Doral Financial Corporation
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| Doral Financial Corporation | |
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| Type of Company | Public (NYSE: DRL) |
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| Founded | San Juan, Puerto Rico; 1972 |
| Headquarters | San Juan, Puerto Rico |
| Key people | John A. Ward III, Chairman & CEO, Glen Wakeman, President & COO |
| Industry | Finance and Insurance |
| Products | Banking Checking Accounts Insurance Stock Brokerage Investment Bank Asset-Based Lending Consumer finance |
| Revenue |  US$ 1.02 billion (2005)[1] |
| Net income | US$ 207.88 million (2005)[1] |
| Employees | 2,598 (2005)[1] |
| Website | www.doralfinancial.com |
Doral Financial Corporation is a financial holding company located in San Juan, Puerto Rico which offers a full range of financial services in Puerto Rico and the New York City metropolitan area through its wholly owned subsidiaries. Its main subsidiaries, Doral Mortgage and HF Mortgage, are two of the largest mortgage companies in Puerto Rico. It also owns Doral Bank, a business and consumer financial services company offering banking services and various types of commercial and consumer loans. Its headquarters are located at 1451 F.D. Roosevelt Avenue, near the Golden Mile District of Hato Rey, San Juan.
Doral Financial’s chief assets are its residential mortgage loans, with its main source of income arising from the origination, purchase, sale, and servicing of those mortgage loans. It offers Federal Housing Administration and Veterans Administration loans, Rural Housing Service loans, conforming conventional loans, nonconforming loans, second mortgage loans, home equity mortgage loans, and other mortgage loans. Other assets consist of commercial real estate loans, construction loans, and consumer loans (such as auto loans, personal loans and credit card loans). It also issues and sells various types of mortgage-backed securities and other investment securities. The company operates through a network of 58 mortgage branches (2005) in Puerto Rico and one branch office in New York City.
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[edit] Stats
- Ranked the 701st and 1,502nd Largest Company In The World by Forbes, by total Assets and Profits, respectively (2006).[1]
- Has over $19.2 billion in assets (2005).[1]
- Approx. 2,598 employees.
- Symbol: DRL (NYSE)
[edit] Subsidiaries
- Doral Bank Puerto Rico
- Doral Bank FSB
- Doral Mortgage Corporation
[edit] Competitors (in Puerto Rico)
- Banco Bilbao Vizcaya Argentaria
- Banco Popular de Puerto Rico
- Banco Santander Central Hispano
- Citibank
- Eurobank
- FirstBank
- Oriental Financial Group, Inc.
- RG Premier Bank
- Scotiabank
- Westernbank
