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Shelton, CT -- On the heels of its successful IPO, Clayton Holdings believes that its new capital base gives it a stronger platform to offer new services to mortgage lenders and servicers.
Chairman and CEO Frank Filipps isn't surprised by the success of the offering, which raised more than $127 million, and he believes it sets the stage for Clayton Holdings to grow.
In addition, Mr. Filipps told MSN that the stock offering gives Clayton "a currency with which we can pursue a number of acquisition opportunities."
Clayton Holdings plans to use the capital to pay back debt, reduce interest costs, and develop new products and markets.
Mr. Filipps said demand for outsourcing is very strong, and Clayton is looking to expand its reach into the primary mortgage market.
"That's going to open a whole new world of opportunity to us," he said.
Already, Clayton Holdings has formed a special servicer to manage problem loans on behalf of one client.