Info

Fieldstone Investment Corporation (FIC) is an integrated mortgage banking company that originates, securitizes, sells and services single-family residential mortgage loans. The Company operates as a real estate investment trust (REIT). FIC originates loans for borrowers through its subsidiary, Fieldstone Mortgage Company. During the year ended December 31, 2006, the Company originated loans through two primary channels: wholesale and retail. These two channels constitute its two production segments. The wholesale segment originates non-conforming loans, and the retail segment originates both non-conforming and conforming mortgages. FIC also has investment portfolio and corporate segments. In 2006, the Company sold the assets pertaining to all of its conforming wholesale offices, its conforming operations center and a majority of its conforming retail offices to third parties. In July 2007, Credit-Based Asset Servicing and Securitization LLC completed its acquisition of FIC.