First Magnus reports $2.37 million January net loss

By Caroline Salls

Pittsburgh, Feb. 27 - First Magnus Financial Corp. reported a $2.37 million net loss for January on $45,258 in revenues, according to its monthly operating report filed Tuesday with the U.S. Bankruptcy Court for the District of Arizona.

The figures compared to a $30.15 million December net loss on $105,462 in revenues.

Cash on Jan. 31 was $23.8 million, compared with $13.0 million on Dec. 31.

First Magnus, a Tucson, Ariz., mortgage loan originator, filed for bankruptcy on Aug. 21. Its Chapter 11 case number is 07-10578.

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