| Business Summary | | LASER
Mortgage
Management,
Inc.
is
a
specialty
finance
company
that
invests
primarily
in
mortgage-backed
securities
and
mortgage
loans.
The
mortgage-backed
securities
include
mortgage
pass-through
certificates,
collateralized
mortgage
obligations,
other
securities
representing
interests
in,
or
obligations
backed
by,
pools
of
mortgage
loans
and
mortgage
derivative
securities
(collectively,
the
Mortgage
Securities).
The
mortgage
loans
are
secured
by
first
or
second
liens
on
single-family
residential,
multi-family
residential,
commercial
or
other
real
property
(the
Mortgage
Loans
and,
together
with
the
Mortgage
Securities,
the
Mortgage
Assets).
On
April
25,
2001,
the
Company
approved
a
plan
of
liquidation
and
dissolution.
Concurrent
with
the
preparation
of
the
plan
of
liquidation,
the
Board
has
authorized
the
Company's
management
to
engage
a
financial
advisor
to
consider
a
sale
or
merger
of
the
Company
as
an
alternative
to
liquidation. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | LMM
is
a
specialty
finance
company
that
invests
in
mortgage-backed
securities
and
loans
including
mortgage
pass
-through
certificates,
collateralized
mortgage
obligations
and
other
securities
with
interests
in,
or
obligations
backed
by
pools
of
mortgage
loans.
For
the
three
months
ended
3/01,
interest
income
totaled
$5.3
million,
up
from
$2.4
million.
Net
loss
rose
51%
to
$2.1
million.
Results
reflect
a
higher
average
investment
portfolio,
offset
by
a
higher
interest
expense. | More
from
Market Guide: Significant
Developments |
| | |
| Position | William Michaelcheck, 54 | Chairman,
Pres, CEO | Charles Howe II, 39 | CFO,
Treasurer, Sec. |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|