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GlassBridge Enterprises ( (GLAE) ) has issued an announcement.
On May 30, 2024, GlassBridge Enterprises, Inc. entered into a Pledge Agreement with Western Alliance Bank, pledging its interests in agreements related to mortgage servicing rights as security for a third-party servicer’s loan agreement. On June 11, 2025, the servicer defaulted on the loan due to failing to maintain required liquid assets, provide audited financial statements, and a temporary suspension as an approved seller of Fannie Mae Mortgage Loan pools. Despite the default, the company expects the issue to be resolved promptly, preventing foreclosure on the collateral.
More about GlassBridge Enterprises
Average Trading Volume: 11
Technical Sentiment Signal: Sell
Current Market Cap: $625K
For a thorough assessment of GLAE stock, go to TipRanks’ Stock Analysis page.