The growing mound of nonperforming mortgages led Stanford Kurland, the former Countrywide Financial Corp. executive, to start Private National Mortgage Acceptance Co. LLC last March to buy and service distressed loans.

But the expected flood of loan sales did not materialize.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.