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Home > Company Index > Financial Services > Consumer Loans > ContiFinancial Corporation
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ContiFinancial Corporation |
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PROFILE |
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Consumer finance firm ContiFinancial couldn't even qualify for one of its own loans: The company is in Chapter 11 bankruptcy. The former lender originated, bought, sold, and serviced home equity loans for borrowers with poor credit. Having lost its liquidity, ContiFinancial discontinued its lending operations, including commercial loans, equipment leases, and franchise loans. The company took measures such as cutting staff to improve its outlook, but ultimately talks with potential buyer General Motors Acceptance Corporation fell through. The company's mortgage servicing portfolio and servicing platform have been sold to subprime mortgage loan servicer Fairbanks Capital. ContiGroup owns three-fourths of the company.
COMPETITION |
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Citigroup Inc. (C)
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Household International, Inc. (HI)
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STOCK ANALYSIS |
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FURTHER ANALYSIS
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FINANCIAL OVERVIEW |
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Fiscal Year-End: March
1999 Sales (mil.): 421.10
1-Yr. Sales Growth: (36.2)%
Employees: 3,330
Revenue per employee: $126,456.46
KEY PEOPLE |
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Alan H. Fishman
CEO
CONTACT INFO |
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277 Park Avenue
New York, NY 10172
US
Phone: 212-207-5487
Fax: 212-207-2868
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