Brooke Capital Re-Evaluates Loss Mitigation Relationships
26 August 2008 - 6:31AM
Marketwired
Brooke Capital Corporation (AMEX: BCP) today announced that it has
notified certain securitization trusts that it will discontinue
providing services to troubled borrowers unless past due servicing
fees are immediately paid. As outlined in the recent Form 10-Q
filing with the SEC, Brooke Capital is owed fees for collateral
preservation consulting by securitization trusts. The amount of
these past due fees is nearly $7 million.
Chairman Robert Orr stated, "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."
About Brooke Capital Corporation:
Brooke Capital Corporation (AMEX: BCP) is an Overland Park,
Kan.-based insurance organization founded in 1997. Brooke Capital
is an insurance agency franchisor and loan consultant.
Contact: Karen Haus Market Street Partners (415) 445-3238 Email
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