The group's principal activity is to provide specialty consumer finance and asset management services. It operates through two segments: portfolio asset acquisition and resolution and mortgage banking. The portfolio asset acquisition and resolution segment acquires performing, nonperforming, nonconforming and subperforming notes receivable and promissory notes from financial institutions and mortgage and finance companies. This segment services and collects such notes receivable through enforcement of terms of original note, modification of original note terms and if necessary, liquidation of the underlying collateral. The mortgage-banking segment originates or purchases, sub prime residential mortgage loans for individuals whose credit histories, income and other factors cause them to be classified as nonconforming borrowers.
