Carrington Capital Management, LLC recently announced that it has been advised by the staff of the Securities and Exchange Commission (the “SEC”) that the investigation by the SEC has been completed and, based on the information it has at this time, the staff does not intend to recommend any enforcement action by the SEC. As previously disclosed, CCM received a subpoena from the SEC in September 2013. CCM cooperated fully with the SEC throughout the investigation, which was related to, among other things, CCM’s acquisition of New Century Financial Corporation’s servicing platform, the preferred securities issued to Carrington Investment Partners, LP, a fund managed by CCM, to finance, in part, the acquisition and operation of the mortgage servicing platform and the valuation of those preferred securities.
“We are pleased to have this matter concluded and are very appreciative of our investors who have supported us throughout the process,” says Bruce Rose, chief executive officer and founder of The Carrington Companies. “We worked very hard to protect our investors during a period of extreme market dislocation and we look forward to continuing to grow our business for the benefit of those investors.”
For more information, visit www.carringtoncap.com.