Genesis Financial Inc (GFNL)

Genesis Financial, Inc. was incorporated in the State of Washington on January 24, 2002 or the purpose of purchasing and reselling seller financed real estate loans. The Company is engaged in the business of purchasing and selling real estate receivable loans and periodically providing bridge capital funding. Loans consist of real estate loans and mortgage notes collateralized by primarily first position liens on residential and commercial real estate. The loans collateralized by real estate are typically non-conventional either because they have originated as a result of seller financing, or the underlying property is non-conventional. The Company invests in loans using investor funds, equity funds and funds generated from external borrowings including a line of credit facility from an affiliated stockholder and banks. The Company does not originate residential loans and therefore is not subject to governmental regulation as a lender, bank, mortgage broker, or other regulated financial institution. The Company also structures, packages, and/or originates non-conforming commercial loans.