The chief financial officer of Kondaur Capital, the investor in nonperforming loans, left the company about 10 days ago — at the same time that the NPL investor's founder and chairman Jon Daurio was forced out by the firm's board.
According to NPL investors and a source at Kondaur, CFO Janice Ramocinski resigned from the privately held firm, whose investors and backers include Carlyle Group and Tourmalet Advisors.
During her long career in mortgage banking, she has worked for such lenders as North American Savings in Santa Ana, Calif., Westwood Savings and Loan, and Touche Ross & Co.
At press time Ramocinski could not be reached for comment. A spokesman for Kondaur confirmed that she was no longer at the company, but he could not comment further.
To date, no reason has been given for Daurio's departure.
Kondaur, of Orange, Calif., manages about 3,000 non- and subperforming loans, notes it bought in the secondary market. Sources say the company is trying to sell off some of its holdings to other NPL investors.
This year it laid off about 40% of its staff. Kondaur is believed to be one of the largest U.S. investors in NPLs.
Several weeks ago it bid on a pool of roughly 1,000 distressed loans from the Federal Housing Administration, but it is unclear if that purchase ever closed.
