The Georgia Department of Banking and Finance early this week slapped Kondaur Capital, Orange, Calif., with a final consent order, prohibiting it from lending or buying any loans in the state.
According to a statement released by the DBF, Kondaur – an investor in nonperforming mortgages and a servicer -- was originally slapped with a cease and desist order in April 2009 after being accused of operating in Georgia without a license.
Regulators say that after a final C&D was issued in May 2009 the company “engaged in mortgage lending activities for which a license was required.”
At press time Kondaur CEO John Kontoulis had not returned a telephone call about the matter.
Last month Kondaur founder Jon Daurio, who also served as chairman and CEO, resigned from the company. No reason was given for his departure.
Officials who have conducted business with Kondaur told ASR's sister publication National Mortgage News that the privately held firm is in the midst of restructuring.
Kondaur's backers and partners in NPL investing include such private investing firms as The Carlyle Group, and Tourmalet Advisors.