Last Tuesday, Union Acceptance Corp. received its third extension from a bankruptcy-court order preventing bond insurer MBIA from attempting a forced servicer change since filing Ch. 11 Oct. 31. A press release from the company - also announcing an undisclosed side bar to the court proceedings - was scheduled for a Friday release. The latest extension allows UAC to continue servicing its portfolio through March 31, a company spokesperson confirmed, allowing UAC to seek its second portfolio sale since Dec. 17. Currently UAC is seeking buyers for roughly $300 million of receivables currently warehoused by Bank of America N.A.

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