Advertisement
YOU ARE HERE: LAT HomeCollectionsVirtual Mortgage Network Inc
IN THE NEWS

Virtual Mortgage Network Inc

FEATURED ARTICLES
BUSINESS
May 24, 2000 | MARC BALLON, TIMES STAFF WRITER
A Newport Beach mortgage company that attempted to go public two years ago has filed a lawsuit accusing an accounting firm and a law firm of torpedoing the offer by withdrawing their services. The suit, filed in Orange County Superior Court by Virtual Mortgage Network Inc., alleges that Arthur Andersen LLP failed to complete audits that would have allowed the company to go public.
ARTICLES BY DATE
BUSINESS
May 24, 2000 | MARC BALLON, TIMES STAFF WRITER
A Newport Beach mortgage company that attempted to go public two years ago has filed a lawsuit accusing an accounting firm and a law firm of torpedoing the offer by withdrawing their services. The suit, filed in Orange County Superior Court by Virtual Mortgage Network Inc., alleges that Arthur Andersen LLP failed to complete audits that would have allowed the company to go public.
Advertisement
BUSINESS
October 26, 1997 | JAMES S. GRANELLI, TIMES STAFF WRITER
Two Orange County mortgage companies that filed papers to go public last week could hardly be more different. Virtual Mortgage Network Inc. in Newport Beach has been a money-losing operation--dropping a total of $13.6 million since it opened in March 1995. It has no significant track record and an unproven video-conferencing system through which borrowers and lenders meet. Even its accounting firm says that, without the company's share of the $46.9 million it hopes to raise in its initial public offering, Virtual Mortgage's financial woes "raise substantial doubt about the ability of the company to continue as a going concern."
BUSINESS
October 26, 1997 | JAMES S. GRANELLI, TIMES STAFF WRITER
Two Orange County mortgage companies that filed papers to go public last week could hardly be more different. Virtual Mortgage Network Inc. in Newport Beach has been a money-losing operation--dropping a total of $13.6 million since it opened in March 1995. It has no significant track record and an unproven video-conferencing system through which borrowers and lenders meet. Even its accounting firm says that, without the company's share of the $46.9 million it hopes to raise in its initial public offering, Virtual Mortgage's financial woes "raise substantial doubt about the ability of the company to continue as a going concern."
Los Angeles Times Articles
|