Ex-Kondaur CEO Jon Daurio Seeks to Raise $250 Million

Industry veteran Jon Daurio, who departed as president of nonperforming loan investor Kondaur Capital 18 months ago, is out trying to raise upwards of $250 million for a new mortgage company geared toward jumbo loans and other nonconforming products, according to an official who was briefed on his plans.

At deadline Daurio could no be reached for comment.

One mortgage banker said the name of Daurio’s new company is Nikkeal Capital, but there was no firm under that name listed with the California Department of Corporations.

As reported by National Mortgage News, Daurio left Kondaur Capital in May 2011. Sources told NMN that investors were unhappy with the returns on Kondaur’s investment in NPLs.

Kondaur went through a series of layoffs that year but Daurio told this publication that his company was profitable after the job cuts were made.

A year ago the Orange, Calif.-based Kondaur was managing roughly 3,000 non- and subperforming loans that it bought in the secondary market.  

Investors in Kondaur included The Carlyle Group and Tourmalet Advisors.