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Home > Company Index > Financial Services > Mortgage Banking & Related Services > Westmark Group Holdings, Inc.

Westmark Group Holdings, Inc.
OTC: WGHI
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 PROFILE
Westmark Group Holdings has fallen short of the mark, and the group has found itself holding very little. Through its subsidiary, Westmark Mortgage, the group was an underwriter, originator, and purchaser of sub-prime mortgage loans. However, the group has liquidated substantially all of its mortgage loans, as well as its related real estate, after discovering that its portfolio's value had been overestimated while its operating expenses had been underestimated throughout 1999. Westmark Mortgage's operations were the sole business of Westmark Group Holdings; the company is using the money from the liquidation of its assets to pay back its lenders.

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 FINANCIAL OVERVIEW
Fiscal Year-End: December
1999 Sales (mil.): 23.40
1-Yr. Sales Growth: 35.3%
Employees: 188
Revenue per employee: $124,468.09

 KEY PEOPLE
• Mark Schaftlein
    CEO
• Irving Bowen
    CFO

 CONTACT INFO
355 NE 5th Ave., Ste. 4
Delray Beach, FL 33483
US
Phone: 561-243-8010
Fax: 561-526-3305

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