PSM Holdings, Inc., (OTCBB:PSMH) through its wholly owned subsidiary, Prime Source Mortgage, Inc. (PSMI) provides mortgage brokerage and banking services across the United States. The company offers adjustable rate mortgages and fixed rate loans; and residential mortgage loans for purchases, refinancing, construction loans, second mortgages, debt consolidation, and home equity loans. It also solicits and receives applications for secured residential mortgage loans and provides mortgage banking services using warehouse lines of credit. PSMI is currently licensed in fourteen states with expansion plans in an additional fifteen states, and oversees the operations of more than 20 branches. The company embarked on an aggressive acquisition strategy in 2011 adding five independent mortgage companies in multiple markets.
Investment Date: February 7, 2013; April 3, 2014
Type of Investment: Convertible Preferred Stock
Board Representation: 2 Board Seats