Private Companies – Fundamental Research Corp.

Fisgard Capital Corporation – A Conservative Alternative Lender with a Long Track Record – Initiating Coverage

Sep 25, 2023

Highlights Formed in 1994, this company is one of the larger Mortgage Investment Corporations...

Sep 25, 2023

Highlights This company, formed in 2011, is a Mortgage Investment Corporation (MIC) focused on...

Jul 27, 2023

Highlights In 2022, this company yielded 5.8% vs 5.3% in 2021, amid higher mortgage receivables...

May 25, 2023

Highlights This company, formed in 2019, is a Mortgage Investment Entity (MIE) focused on offering...

Apr 20, 2023

Highlights In 2022, this company yielded 6.02% (beating our estimate by 72 bps) vs 5.53% in 2021....

Mar 17, 2023

Highlights In FY2022 (ended September 2022), this company yielded 7.0% vs our estimate of 6.5%, up...

Jan 5, 2023

Highlights 2022 (9M) yield was 6.3% (beating our estimate by 12bps) vs 6.1% in 2021 (full-year)....

Dec 19, 2022

Highlights 2022 (9M) yield was 5.9% (in line with our estimate) vs 6.0% in 2021 (full- year). This...

Oct 3, 2022

Highlights This company is a Mortgage Investment Corporation (“MIC”) primarily focused on offering...

Sep 28, 2022

Highlights In FY2022 (year ended June 2022), mortgage receivables increased 23% YoY to $938M (the...