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First NLC reports $21.61 million in earnings from operations for Jan. 18-31
By Caroline Salls
Pittsburgh, Feb. 29 - First NLC Financial Services, LLC reported $21.61 million in earnings from operations for the period of Jan. 18 to Jan. 31 on $5.51 million in total revenues, according to its monthly operating report filed Friday with the U.S. Bankruptcy Court for the Southern District of Florida.
The net earnings for the period were $21.06 million.
Cash on Jan. 31 was $6.24 million.
First NLC, Friedman, Billings, Ramsey Group, Inc.'s mortgage origination subsidiary, filed for bankruptcy on Jan. 18. Its Chapter 11 case number is 08-10632.
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