GREENWICH, Conn., April 15, 2015 /PRNewswire/ -- Carrington Capital Management, LLC (CCM), an alternative asset management firm focused on investing in the US real estate, mortgage and fixed income markets, announced today 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 of 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," said 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."
About Carrington Capital Management, LLC:
Carrington Capital Management, LLC (CCM) is an alternative asset management firm focused on investing in the US real estate, mortgage and fixed income markets. To learn more about Carrington Capital Management, visit our website at www.carringtoncap.com.
About The Carrington Companies:
The Carrington Companies own and operate multiple businesses that cover virtually every aspect of single family residential real estate transactions through investments in U.S. real estate and international mortgage markets, loan origination and servicing, asset management and property preservation, real estate brokerage, title and escrow services. To read more visit: www.carringtonhc.com.
Through its collective associates made up of Carrington leaders and employees, the company's non-profit organization, Carrington Charitable Foundation, seeks to promote giving back to the community through causes that reflect the interests of Carrington Associates. For more information about Carrington Charitable Foundation and the organizations and programs it supports through specific fundraising efforts, please visit: http://carringtoncf.org.