| Business Summary | | Altiva
Financial
Corporation
is
a
specialized
consumer
finance
company
that
funds,
purchases,
makes
and
sells
consumer
loans
secured
by
deeds
of
trust
on
single-family
residences.
Historically,
the
Company
retained
the
right
to
service
a
substantial
portion
of
the
loans
it
has
sold.
The
Company's
borrowers
generally
do
not
qualify
for
traditional
"A"
credit
mortgage
loans.
The
Company
has
one
wholly
owned
operating
subsidiary,
The
Money
Centre,
Inc.
The
Company
makes
sub-prime
residential
mortgage
loans
for
the
purpose
of
debt
consolidation
or
creating
liquidity
from
the
borrower's
home
equity.
The
type
of
loan
products
offered
by
the
Company
are
determined
by
their
profitability
and
the
liquidity
of
the
after-market
for
loan
sales.
As
such,
the
Company's
current
product
mix
is
comprised
primarily
of
first
and,
to
a
lesser
extent,
second
mortgage
products
that
have
combined
loan-to-value
of
up
to
100%. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | Altiva
Financial
Corp.
is
a
specialized
consumer
finance
co.
that
funds,
purchases,
makes
and
sells
consumer
loans
secured
by
deeds
of
trust
on
single-family
residences.
For
the
six
months
ended
2/29/00,
revenues
totalled
$5.3
million,
vs.
expenses
of
$169
thousand.
Net
loss
before
extraordinary
item
increased
2%
to
$5.8
million.
Revenues
benefitted
from
loan
production
by
The
Money
Centre,
Inc.
Higher
loss
reflects
increased
payroll
due
to
the
acquisition
of
The
Money
Centre. | More
from
Market Guide: Significant
Developments |
| Officers | | | FY1999 Pay | |
| Edward Meyercord, 59 Chairman
and CEO | $557K | J. Walker, 53 Exec.
VP and CFO | 184K | Dollar amounts are as of 31-Aug-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
|
|