Message #15 From:
NewsBot Date: January 4, 2007 05:00:00 AM
TMFZ News TMSF Holdings, Inc. Announces $10 Million Subordinated Debt Funding
LOS ANGELES--(BUSINESS WIRE)--TMSF Holdings, Inc. (OTCBB:TMFZ), today announced that it has signed an
agreement with Genesis Financial Services Fund, LLC on a subordinated
note with a maximum draw of $10 million. The note authorizes a $3
million draw-down immediately upon signing, with the balance required to
be drawn down during a one-year period. It has a term of five years and
is subject to certain financial and general covenants similar to those
associated with the Company’s existing
warehouse credit facilities. The Company intends to utilize the capital
provided by the subordinated debt to implement its growth strategy for
2007. The strategy calls for TMSF to seek out opportunistic acquisitions
that will dramatically strengthen its foothold in California, while
continuing to build its national origination platform.
“In today’s real
estate marketplace, we believe there is significant value in expanding
our working capital to provide us with enhanced growth opportunities,”
commented Raymond Eshaghian, CEO of TMSF Holdings, Inc. and President of
The Mortgage Store Financial Inc.
About TMSF Holdings
TMSF Holdings, Inc. is a financial holding company that through its
wholly owned subsidiary, The Mortgage Store Financial, Inc., is engaged
in nationwide mortgage banking. The goal of The Mortgage Store
Financial, Inc. is to become a national leader in the mortgage banking
industry by continuing to expand its geographic coverage and maximizing
the volume of business from existing clients while adopting innovative
processes to improve its profitability.
Information Regarding Forward Looking Statements
Certain statements contained in this news release may be deemed to be
forward-looking statements under federal securities laws and TMSF
intends that such forward-looking statements be subject to the
safe-harbor created thereby. Such forward-looking statements are made
based on management's belief as well as assumptions made by, and
information currently available to, management pursuant to the `safe
harbor' provisions of the Private Securities Litigation Reform Act of
1995. Actual results may differ materially from the results anticipated
in these forward-looking statements as a result of a variety of factors.Such factors include, but are not limited to, (i) the condition of
the U.S. economy and financial system, (ii) the stability of residential
property values, (iii) the potential effect of new state or federal laws
or regulations, (iv) the effect of increasing competition in TMSF’s
sector, (v) the interest rate environment, (vi) TMSF's ability to
maintain adequate financing facilities, (vii) the risks identified in
the Company’s Annual Report on Form 10-K for
the fiscal year ended December 31, 2005 and its other periodic filings
with the Securities and Exchange Commission.
