Seeking Alpha

Doral completes sale of mortgages; evaluating strategic alternatives

  • Sold to FirstBank Puerto Rico are the servicing rights on about $242.1M UPB of mortgages.
  • "The Company believe(s) that unless it promptly and proactively responds to these anticipated regulatory and economic trends arising in the Puerto Rico market the Company’s regulators could take additional regulatory action ... The Company is developing and evaluating alternative strategic initiatives to respond to the significant trends affecting the Company’s business in order to maximize shareholder value," and has retained several investment banks for assistance."
  • DRL -8.7%
  • Press release
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