Brooke Capital Corp., an insurance agency franchisor and loan consultant, announced that, for certain securitization trusts, it will discontinue providing services to troubled borrowers unless past due servicing fees are immediately paid. The company said is owed fees totaling almost $7 million for collateral preservation consulting by securitization trusts.
"Today's credit environment is challenging. However, delinquencies in the payment of borrower servicing fees have caused hardships for our franchisees, vendors and shareholders. Resolution of this issue is my number one priority," Robert Orr, chairman of Brooke Capital, said in a company release.