December 21, 2014 1:09 PM ET

Real Estate Management and Development

Company Overview of Carrington Holding Company, LLC

Company Overview

Carrington Holding Company, LLC, through its subsidiaries, provides services in the areas of single family residential real estate transactions and investments in the United States. It engages in offering real estate and mortgage markets related asset management services; mortgage servicing and lending; and real estate services. The company also provides real estate brokerage services in the areas of buying/selling homes, retail sales, investment, rentals, distressed property sales, and short sales; and escrow, and title and settlement services. In addition, it offers property services, including property-specific customized solutions; and home solutions that include property preservation, m...

599 West Putnam Avenue

Seven Greenwich Office Park

Greenwich, CT 06830

United States

Founded in 2003

3,340 Employees

Phone:

949-517-7100

Key Executives for Carrington Holding Company, LLC

Founder and Chief Executive Officer
Chief Operating Officer
Chief Real Estate Officer
Age: 58
Chief Investment Officer and Head of Asset and Risk Management
Compensation as of Fiscal Year 2014.

Carrington Holding Company, LLC Key Developments

Carrington Holding Company, LLC Reports Unaudited Consolidated Financial Results for the Nine Months Ended September 30, 2014

Carrington Holding Company, LLC reported unaudited consolidated financial results for the nine months ended September 30, 2014. Total revenue was $210,549,321 compared to $147,280,852 a year ago. Income from operations was $8,881,864 compared to loss of $18,514,319 a year ago. Net loss before income taxes was $13,001,781 compared to loss of $26,283,033 a year ago. Net loss was $13,018,606 compared to loss of $26,310,619 a year ago. Net cash provided by operating activities was $13,807,386 compared to net cash used in operating activities of $14,313,581 a year ago. Purchase of property, furniture and equipment was $7,417,310 compared to $5,880,673 a year ago. The increase in revenue was primarily due to higher mortgage originations, asset management fees, real estate service fees, and servicing fees. The increase in Interest income was due to a rise in the average balance of loans held for sale, as a result of higher loan originations from MLD segment.

Carrington Holding Company, LLC Reports Unaudited Consolidated Earnings Results for the Six Months Ended June 30, 2014

Carrington Holding Company, LLC reported unaudited consolidated earnings results for the six months ended June 30, 2014. For the period, the company reported total revenues of $139,029,345 compared to $99,613,327 a year ago. Income from operations was $6,337,312 compared to loss from operations of $8,227,858 a year ago. Net loss before income taxes was $21,498,721 compared to $13,750,581 a year ago. Net loss was $21,492,105 compared to $13,777,422 a year ago. Net cash used in operating activities was $10,607,172 compared to $31,869,304 a year ago. Purchases of property, furniture and equipment were $2,556,533 compared to $3,895,312 a year ago. The revenue was primarily due to higher asset management fees, real estate service fees and mortgage originations.

Carrington Holding Company, LLC Announces the Opening of Four New Branches; Appoints Jeff Scannicchio as Senior Vice President of Mortgage Lending Operations

Carrington Mortgage Services, LLC announced the opening of four new branches in Warrenton, Virginia; Plano, Texas; Houston, Texas; and Fishers, Indiana. Carrington’s branch expansion initiatives and management appointments provide business development opportunities in each of these regions, while extending a wide range of product offerings and faster turn times to effectively meet market demands – particularly with respect to reaching and serving “underserved” borrowers (typically those in the sub-640 FICO score range). The company also announced the appointment of Jeff Scannicchio as Senior Vice President of Mortgage Lending Operations. The company’s experienced managers named to lead Carrington’s new branches include: Jessica Furr in Warrenton; Mike Denton in Plano; Oliver de Boer in Houston; and Ryan Higley in Fishers. Carrington’s newly appointed SVP Jeff Scannicchio will manage national operations for the Mortgage Lending Division and support the organization’s objectives in continuing to grow the operation’s functional capacity, efficiency and market share.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
March 3, 2014
Carrington Mortgage UK Limited
 

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