PROFILE |
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It's the end of IMC Mortgage as we knew it. The company, which previously made high-interest consumer loans and home equity mortgages to borrowers with poor credit, sold nearly all of its business to CitiFinancial Mortgage, a unit of Citigroup. It had been floundering since 1998, when BankBoston (now FleetBoston) refused to extend credit to the company, which still holds some mortgages for sale and continues to manage its assets and repay creditors. IMC joins a list of troubled (or worse) subprime lenders, including United Companies Financial, FIRSTPLUS Financial Group, ContiFinancial, and Wilshire Financial Services; each declared bankruptcy. Greenwich Street Capital Partners controls more than 90% of the company.
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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: December
1999 Sales (mil.): 205.80
1-Yr. Sales Growth: (53.2)%
Employees: 7
Revenue per employee: $29,400,000.00
CONTACT INFO |
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5901 E. Fowler Ave.
Tampa, FL 33617
US
Phone: 813-984-8801
Fax: 813-932-8257
Online: Web Site
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