FMF Capital LLC - Non-Prime Lender
2007-03-09
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stories: theglobeandmail.com, snl.com
FMF company explored selling off its operations, but when that proved non-viable, they decided to fold.
FMF operated in 39 US states, and contrary to the Canadian listing, did not do any business in Canada. The Canadian listing seemed to exist purely to get favorable status as an income trust, which ironically became irrelevant quickly as the company had to eliminate dividends only 8 months after listing in March, 2005, as business conditions deteriorated. The stock quickly plunged to penny levels.
Fly by night, much?
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Important: This company is on our list of lending operations that have "imploded". However, please note that "imploded" is a somewhat subjective and does not necessarily mean operations are ceased permanently: it can mean bankruptcy filing, temporary but open-ended halting of major operations, or "firesale" acquisition. All information here is provisional, and may contain inaccuracies (especially newer information). If you are planning on doing business with this company or any other one listed on this site, you should inquire with them directly on whether they can still meet your needs. Many are still operating in some capacity.