| Business Summary | | HomeGold
Financial,
Inc.,
together
with
its
subsidiaries,
is
a
specialty
finance
company
primarily
engaged
in
the
business
of
originating,
selling
and
servicing
sub-prime
first-
and
second-lien
residential
mortgage
loan
products
(Mortgage
Loans).
The
Company
sells
a
significant
portion
of
the
loans
it
originates,
primarily
through
two
methods,
whole-loan
cash
sales
and
securitization.
HomeGold
originated
$597.0
million,
$234.0
million
and
$785.3
million
of
loans
during
2000,
1999
and
1998,
respectively.
The
Company's
major
operating
subsidiaries
are
HomeGold,
Inc.
and
Carolina
Investors,
Inc.
On
April
28,
2000,
the
Company
approved
a
merger
agreement
with
HomeSense
Financial
Corp.
and
affiliated
companies,
a
privately
owned
business,
located
in
Lexington,
South
Carolina.
The
merger
was
consummated
on
May
9,
2000. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | HomeGold
Financial,
Inc.
is
a
financial
services
company
which
originates,
services,
sells
and
securitizes
mortgage
loans.
For
the
six
months
ended
6/01,
revenues
rose
22%
to
$27.8
million.
Net
loss
before
extraordinary
item
declined
8%
to
$17.3
million.
Revenues
reflect
an
increase
in
loan
production
due
to
the
merger
with
HomeSense
and
an
increase
in
average
loan
origination
fees
charged.
Lower
loss
reflects
the
absence
of
a
$1.6
million
provision
for
credit
losses. | More
from
Market Guide: Significant
Developments |
| | | | FY1999 Pay | |
| John Sterling, Jr., 62 Chairman | $209K | Ronald Sheppard, 42 CEO | -- | Forrest Ferrell Pres | -- | Rhonda Johnson CFO,
Exec. VP | -- | John Crisler, 43 Exec.
VP, COO | 104K | 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
|
|