Stephan, here is the press release you referred to. I hope it is only a matter of time until these positive developments are reflected in the stock price!
Monday April 21 12:30 PM EDT - Source: Westmark Group Holdings, Inc.
Record Revenue for March Announced By Westmark
Group Holdings
$10 Million In Credit Lines Closed By Westmark Mortgage Corporation
DELRAY BEACH, Fla., April 21 /PRNewswire/ -- Westmark Group Holdings, Inc. (Nasdaq:
WGHI) announced today that through its subsidiary, Westmark Mortgage Corporation, revenue
reached $458,000 from loan sales in March. A breakdown included $8.0 million in "B/C" sales
and $900,000 in "A" sales.
For the quarter, revenues have increased from $307,000 in January and $367,000 in February;
the quarterly revenue from loan sales totaled $1.142 million.
Mark Schaftlein, CEO of Westmark Group Holdings, Inc. stated, "Revenues continue to exceed
our projected internal growth estimates, while revenue per loan is tracking to expected results."
Also announced today was that Westmark Mortgage Corporation recently closed on two credit
facilities of $5 million each. This brings the Company's liquidity through its lines of credit to $20
million.
Schaftlein stated, "This liquidity provides the company with the capacity to continue with its
growing loan production. In addition, the costs of credit and transaction fees have been reduced
which will ultimately lead to lower over-all borrowing cost to the mortgage company."
Westmark Group Holdings, Inc. is a diversified financial services company which, through its
subsidiary, Westmark Mortgage Corporation, is actively engaged in the nationwide origination,
purchase and sale to investors of primary non-conforming loans secured by residential properties. |
