American Banker (04/15/08) P. 12; Launder, William
Greenfield Partners LLC has agreed to acquire Clayton Holdings Inc., the beleaguered provider of mortgage due diligence and servicing. Clayton officials believe the transaction will help the Connecticut-based company pay down debt, shore up its balance sheet and survive the slumping securitization market. Clayton recorded a 2007 net loss of $97 million, as turmoil in the mortgage market prompted many Wall Street mortgage conduits--the firm's core clientele--to post massive writedowns and others to close up shop altogether. Clayton, though, does have its share of fast-expanding business lines, ranging from mortgage consulting to providing independent valuations of hard-to-price securities.
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