| Business Summary | | PacificAmerica
Money
Center,
Inc.
is
a
mortgage
banking
company
primarily
engaged,
through
its
subsidiaries,
Pacific
Thrift
and
Loan
Company
and
PacificAmerica
Money
Centers,
Inc.,
in
the
business
of
originating
and
selling
home
equity
mortgage
loans
secured
by
single
family
residences.
The
Company
specializes
in
home
equity
loans
for
borrowers
whose
credit
histories
or
other
factors
limit
their
access
to
credit
from
traditional
mortgage
lenders.
PacificAmerica
currently
originates
fixed
and
adjustable
rate
residential
mortgage
loans
to
borrowers
of
all
credit
grades.
At
March
15,
1998,
the
Company
operated
40
retail
loan
offices
in
21
states
and
the
District
of
Columbia. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | PacificAmerica
Money
Center
is
a
mortgage
banking
company
engaged
in
originating,
purchasing,
selling,
holding
and
servicing
home
equity
mortgage
loans
secured
by
single
family
residences.
For
the
six
months
ended
6/30/99,
total
interest
income
fell
32%
to
$4.6
million.
Net
interest
loss
after
loan
loss
provision
fell
28%
to
$1.2
million.
Net
loss
totalled
$9.2
million
vs.
an
income
of
$7.9
million.
Results
reflect
a
lower
loan
loss
provision,
offset
by
lower
loan
sale
gains. | More
from
Market Guide: Significant
Developments |
| Officers | | | FY1998 Pay | |
| Joel Schultz, 62 Chairman,
Pres and Chief Exec. Officer | $646K | Charles Siegel, 49 Chief
Financial and Admin. Officer and Assistant Sec. | 214K | Richard Fremed, 56 Exec.
VP, HR and Investor Relations and Sec. | -- | Norman Markiewicz, 52 Exec.
VP | 155K | Dollar
amounts are as of 31-Dec-1998 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
|
|