TMSF Reports $10M Debt Funding

TMSF Holdings Inc., a Los Angeles-based holding company for The Mortgage Store Financial Inc., has announced an agreement with Genesis Financial Services Fund LLC on a $10 million subordinated debt funding.Under the agreement, a five-year subordinated note with a maximum draw of $10 million authorizes an immediate $3 million draw-down, with the balance required to be drawn down during a one-year period, the company reported. TMSF Holdings said it plans to use the capital to carry out a growth strategy for 2007 that calls for it to "seek out opportunistic acquisitions that will dramatically strengthen its foothold in California, while continuing to build its national origination platform."