| Business Summary | | Resource
Bancshares
Mortgage
Group,
Inc.
was
organized
to
acquire
and
operate
the
residential
mortgage
banking
business
of
Resource
Bancshares
Corporation,
which
commenced
operations
in
May
1989.
The
Company
is
a
diversified
financial
services
company
engaged,
through
wholly
owned
subsidiaries,
primarily
in
the
business
of
mortgage
banking,
through
the
purchase,
sale
and
servicing
of
agency-eligible
and
subprime
residential,
single-family,
first
lien
and
second
lien
mortgage
loans,
as
well
as
the
purchase
and
sale
of
servicing
rights
associated
with
agency-eligible
loans.
In
addition,
two
of
the
Company's
wholly
owned
subsidiaries
originate,
sell
and
service
small-ticket
commercial
equipment
leases
and
originate,
sell,
underwrite
for
investors
and
service
commercial
mortgage
loans. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | RBMG
is
a
diversified
financial
services
company
engaged
primarily
in
the
business
of
mortgage
banking
through
the
origination
and
purchase,
sale
and
servicing
of
residential
mortgage
loans.
For
the
six
months
ended
6/30/01,
revenues
rose
58%
to
$105.5
million.
Net
income
from
continuing
operations
before
accounting
change
totaled
$8.8
million
vs.
a
loss
of
$11.5
million.
Revenues
reflect
a
higher
gain
on
the
sale
of
mortgage
loans.
Net
income
reflects
lower
amortization
cost. | More
from
Market Guide: Significant
Developments |
| | | | FY1999 Pay | |
| Douglas Freeman, 49 Chairman,
CEO | -- | David Johnson, Jr., 51 Pres,
Director | $1.1M | Larry Reed, 54 Pres
and Chief Exec. Officerof Meritge Mortgage Corp. | 245K | Steven Herbert, 43 Corp.
Sr. Exec. VP and Corp. CFO | 292K | 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
|
|