We are a fully integrated mortgage banking company that originates, securitizes, sells and services single-family residential mortgage loans and maintains a portfolio of mortgage loans that we originated. We have elected to be taxed as a real estate investment trust, or REIT, for federal income tax purposes. We originate loans for borrowers nationwide through our operating subsidiary, Fieldstone Mortgage Company (Fieldstone Mortgage or FMC). Fieldstone Mortgage has been operating since 1995, and we believe we have developed processes and criteria that promote sound underwriting and pricing decisions and provide the ability to efficiently approve and fund non-conforming and conforming loans with efficiency and quality. During 2006, we originated loans through two primary channels: Wholesale and Retail. These two channels constitute our two production segments. Our wholesale segment originates non-conforming loans through its network of independent mortgage brokers as more fully described in the section titled, Wholesale Segment. Our retail segment originates both non-conforming and conforming mortgages through its retail offices as more fully described in the section titled, Retail Segment. Prior to 2006, we structured our business through a non-conforming channel and a conforming channel, each of which had wholesale and retail lending divisions. In early 2006, we sold the assets pertaining to all of our conforming wholesale offices, our conforming operations center and a majority of our conforming retail offices to third parties. We combined our remaining conforming retail personnel, branches and assets into our non-conforming retail division, which will continue to offer both non-conforming and conforming products, and implemented our current channel structure which we believe is more closely aligned with the way we now operate.
Company profile
Ticker
FICC
Exchange
Employees
Location
Fiscal year end
Industry (SIC)
SEC CIK
Corporate docs
Latest filings (excl ownership)
15-12G
Securities registration termination
17 Jul 07
25-NSE
Exchange delisting
17 Jul 07
8-K
Entry into a Material Definitive Agreement
5 Jul 07
8-K
Other Events
3 Jul 07
8-K
Entry into a Material Definitive Agreement
6 Jun 07
8-K
Entry into a Material Definitive Agreement
21 May 07
10-Q
2007 Q1
Quarterly report
10 May 07
8-K
Entry into a Material Definitive Agreement
4 May 07
10-K/A
2006 FY
Annual report (amended)
30 Apr 07
8-K
Entry into a Material Definitive Agreement
27 Apr 07
Latest ownership filings
No filings