Portrait of a US financial mortgage firm: Fieldstone Investment (1995-2007)

Found in 1995, Fieldstone Investment was a specialist international investment banking firm. Fieldstone Investment headquarters were located in Columbia, Maryland. Fieldstone Investment was performing in the real estate investment trusts sector. During its year of operation, Fieldstone Investment employed more than 1 000 financial specialists in the US. Fieldstone Investment was active in 27 states across the US and was doing business with many independent mortgage brokers.

More about Fieldstone Investment

Fieldstone Investment used to manage a portfolio of non-conforming mortgage loans own by its mortgage origination subsidiary, Fieldstone Mortgage Company. Fieldstone Investment was an investment banking firm and was formed to facilitate the financing and sale of mortgage loans and mortgage-related assets. Fieldstone Investment was the direct credit facilitator of Fieldstone Mortgage Company. Fieldstone Investment supported mortgage loans.

Fieldstone Investment was listed on the NASDAQ Stock Market under the ticket symbol FICC. The President and CEO of Fieldstone Investment was Michael J. Sonnenfeld. For several years, Michael J. Sonnenfeld operates as a mortgage banker.

The ex CEO of Fieldstone Investment Michael J. Sonnenfeld holds a BA and MA of Johns Hopkins University as well a degree in law from the University of Michigan. Until the mortgage crisis of 2007, Fieldstone Investment was a successful company generating $200.33 million in annual revenue. Fieldstone Investment had been listed on the top 200 US companies and was delivering dividend to their stockholders. In order to benefit from federal income tax purposes, the company had been elected as a real estate investment trust.

Fieldstone Investment & the US subprime mortgage crisis

The US subprime mortgage crisis is one of the 2007 events that lead to a worldwide financial crisis. Numbers of US mortgages went delinquents, forcing real estate investment trusts like Fieldstone Investment and other mortgages related companies to declare bankruptcy one after the other.

During the mortgage crisis, Fieldstone Investment suffers from the severe deterioration of the subprime loan market. During its years of activity, Fieldstone Investment was one of US largest subprime lenders. And the US subprime mortgage crisis had, according to Michael J. Sonnenfeld, sharply reduced the liquidity of Fieldstone Investment.

In result of the mortgage crisis, Fieldstone Investment accepted a purchase offers coming from Credit-Based Asset Servicing and Securitization LLC also known as C-BASS, a leading issuer, servicer, and investor specializing in credit-sensitive residential mortgage assets based in New York. In July 2007, Credit-Based Asset Servicing and Securitization LLC completed the acquisition of Fieldstone Investment. Sadly, in November 2010, Credit-Based Asset Servicing and Securitization (C-BASS) had to file for bankruptcy as the company could no longer meet lenders' margin calls.

Following the Fieldstone Investment episode, Michael J. Sonnenfeld pursues his career as a managing member of Casa Fund Manager, LLC.