| | Business Summary | | First
Alliance
Corporation,
along
with
several
of
its
subsidiaries,
filed
under
Chapter
11
of
the
United
States
Bankruptcy
Code
on
March
23,
2000.
The
Company
was
a
financial
services
organization
principally
engaged
in
mortgage
loan
origination,
purchases,
sales
and
servicing.
The
Company's
loan
volume
has
been
primarily
generated
through
loan
originations,
with
99%
of
its
2000
volume
coming
from
its
branch
and
"Loan
by
Mail"
operations.
Loans
originated
by
the
Company
primarily
consisted
of
fixed-
and
adjustable-rate
loans
secured
by
first
mortgages
on
single-family
residences.
The
majority
of
the
Company's
loans
have
been
made
to
borrowers
that
used
the
loan
proceeds
for
such
purposes
as
debt
consolidation
and
financing
of
home
improvements.
Typically,
the
Company's
borrowers
have
been
individuals
who
did
not
qualify
for
conventional
loans
because
of
impaired
or
unsubstantiated
credit
characteristics
and/or
unverifiable
income. | | More
from
Market Guide: Expanded
Business Description |
| | Financial Summary | | First
Alliance
Corp.
is
a
financial
services
organization
principally
engaged
in
mortgage
loan
organization,
purchases,
sales
and
servicing.
For
the
six
months
ended
6/30/01,
total
revenues
fell
26%
to
$8.5
million.
Net
loss
fell
84%
to
$3.9
million.
Revenues
reflect
the
filing
of
Bankruptcy
which
resulted
in
the
closure
of
the
entire
loan
organization.
Net
loss
reflects
a
decrease
in
estimated
liquidation
costs
and
compensation
expense. | | More
from
Market Guide: Significant
Developments |
| | Officers | | | FY1999 Pay | |
| Brian Chisick, 60
Chairman,
CEO | $395K | Francisco Nebot, 42
Pres,
CFO, Director | 387K | Jeffrey Smith, 38
Exec.
VP, COO, Director | 340K | Faez Kaabi, 32
VP,
Controller | 124K | Jerry Hager, 42
VP,
Gen. Counsel | 123K | | Dollar amounts are as of 31-Dec-1999 and compensation values are for the fiscal year ending on that date; "Pay" is salary, bonuses, etc.. |
| More
from
Market Guide on Officers & Directors:
Expanded
List, Bios,
Compensation,
Options
|
|
![[one-year price graph]](http://chart.yahoo.com/c/0b/f/facoq.ob.gif)