Items Tagged with 'Fieldstone'

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  • Fieldstone EVP Kills Wife, Jumps to His Death

    Numerous media outlets are covering the murder-suicide of former Fieldstone executive vice president Walter Buczynski, who beat his wife to death and then plunged to his death by jumping off the Delaware Memorial Bridge. Buczynski was EVP in charge of secondary markets at the now-defunct Fieldstone Mortgage, which had been purchased in July by C-BASS before going Chapter 11 in November of last year.
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  • Fieldstone to Lay Off 14 Percent of Workforce

    Fieldstone Investment Corporation (NASDAQ:FICC), one of the nation's largest subprime mortgage originators, said late Friday after market close that it plans to reduce its number of wholesale operations centers from nine to three and that it will close nine of its smaller retail branch offices. Layoffs will impact 14 percent of the company's workforce -- or roughly 125 employees -- Fieldstone officials said in a press statement The lender is currently set to be acquired by scratch-and-dent giant Credit-Based Asset Servicing (C-BASS) is a deal worth $4.00 per share. Fieldstone shares closed at $3.31 on Friday in light trading volume. Company officials did not specify if the reductions were part of the company's acquisition plan.
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  • Fieldstone Settles Litigation Claims; Full Steam Ahead for C-BASS Merger

    Fieldstone Investment Corporation (NASDAQ:FICC) said late yesterday that it had settled litigation with former Fieldstone shareholders, relating to the price paid by Fieldstone to redeem their shares following the closing of Fieldstone's Rule 144A equity offering in 2003. As part of the settlement agreement, Fieldstone agreed to pay $10.6 million to the former shareholders involved in the lawsuit and has received a full mutual release from all of the parties to the litigation.
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