Kondaur Capital of Orange County, Calif., recently bought two large non-performing loan portfolios one of them from Citigroup, according to investment banking sources.
Moreover, Kondaur is beefing up its staff and reportedly has hired 300 or so new employees in the Orange County area over the past month. At press time officials from both Kondaur and Citi could not be reached for comment about the NPL portfolio.
One investment banker said the NPL portfolio bought from Citi had 1,800 loans in it. The other had about 1,100 mortgages. No other details were available.