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The company claims in a lawsuit against the Puerto Rican government that the territory could lose "a major lender in the Puerto Rico housing market" if it is denied a $230 million tax refund.
June 5 -
Doral Financial (DRL) in San Juan, Puerto Rico, is developing a revised capital plan to address concerns from the Federal Deposit Insurance Corp.
May 5 -
The Puerto Rican company is looking to shore up its capital levels after the FDIC invalidated about 40% of its Tier 1 capital. Management will have plenty of challenges as it looks to fill the capital hole.
May 20
Doral Financial (DRL) in San Juan, Puerto Rico, has agreed to sell roughly $825 million of assets to Abbey Finance Holdings PR.
The $7.8 billion-asset Doral said in a regulatory filing Monday that it will sell loans and foreclosed properties to Abbey for $369 million. The assets consist of roughly $624 million of residential mortgages and properties and about $201 million of commercial mortgages and properties.
Doral said the property values are based on outstanding principal balances as of April 30 or the most recent appraised value. Doral will continue to service the assets for an interim period.
Doral is embroiled in a
