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."

Subscribe Now

Authoritative analysis and perspective for every segment of the mortgage industry

30-Day Free Trial

Authoritative analysis and perspective for every segment of the mortgage industry