Fieldstone Mortgage For Sale?

Fieldstone Investment Corp., Columbia, Md., a top-25-ranked nonprime lender, has put itself on the auction block, hiring Lehman Brothers as its adviser, according to investment banking officials."There's definitely a book out on them," said one mergers-and-acquisitions adviser, requesting anonymity. Another investment banker confirmed this. Fieldstone president and chief executive officer Michael Sonnenfeld did not return a telephone call about the matter. The company is publicly traded. News of the sale was first reported in the Dec. 11 issue of National Mortgage News.