The group's principal activity is to provide mortgage banking services. It originates, finances, sells, securitizes and services non-prime mortgage loans secured by residential real estate. The group focuses on borrowers who do not meet conforming underwriting guidelines due to higher loan-to-value ratios. It originates loans primarily through approved and licensed independent mortgage brokers. As of 31-Dec-2003, the group had a network of 6,800 independent brokers throughout the United States. The group also operates axiom financial services and home funds direct, which originates direct-to-consumer loans.
