-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, MTvlGw5O1w9vQBOPT3i3hEJ+jWcCmiYSsOZR4muNE1jil74+rFPP2HetwoVQp+wu GzcZo96aJDlgzVi2wvyiRQ== 0000823063-97-000002.txt : 19970710 0000823063-97-000002.hdr.sgml : 19970710 ACCESSION NUMBER: 0000823063-97-000002 CONFORMED SUBMISSION TYPE: 10-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19961231 FILED AS OF DATE: 19970709 SROS: NONE FILER: COMPANY DATA: COMPANY CONFORMED NAME: MORTGAGE BANCFUND OF AMERICA CENTRAL INDEX KEY: 0000823063 STANDARD INDUSTRIAL CLASSIFICATION: PERSONAL CREDIT INSTITUTIONS [6141] IRS NUMBER: 330281356 STATE OF INCORPORATION: CA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-K SEC ACT: 1934 Act SEC FILE NUMBER: 033-17643 FILM NUMBER: 97638069 BUSINESS ADDRESS: STREET 1: 2 CORPORATE PARK STE 106 CITY: IRVINE STATE: CA ZIP: 92714 BUSINESS PHONE: 7142532900 MAIL ADDRESS: STREET 1: 2 CORPORATE PARK STREET 2: SUITE 106 CITY: IRVINE STATE: CA ZIP: 92606-5128 10-K 1 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K Annual Report pursuant to Section 13 or 15 (d) of the Securities Exchange Act of 1934 For the fiscal year ended December 31, 1996 Commission file number 33-17643 THE MORTGAGE BANCFUND OF America, a California Limited Partnership (exact name of registrant as specified in its charter) California 33-0281356 (State or other jurisdiction of I.R.S. Employer Incorporation or organization ) Identification No. 2 Corporate Park. Suite 106, Irvine, CA. 92714 (address of principal executive office) (714) 253-2900 (registrant's telephone number, including area code) N/A (Former name, former address and former fiscal year, if changed since last report.) Securities registered pursuant to Section 12(b) of the Act: Title of Each Class: N/A Name of Each Exchange on Which Registered: N/A Securities registered pursuant to Section 12(g) of the Act: Title of Class: N/A Indicate by check mark whether the registrant (1) has filed all reports required to be filed by section 13 or 15 (d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file reports), and (2) has been subject to such filing requirements for the past 90 days. YES X NO_______ Partnership units outstanding: 87,087 The Mortgage Bancfund of America (a California Limited Partnership) Index to Form 10-K December 31, 1996 Part I Item 1 - Business Item 2 - Properties Item 3 - Legal Proceedings Item 4 - Submission of matters to a vote of security holders (partners) Part II Item 5 - Market for the registrant's Partnership units and related security holder matters Item 6 - Selected financial data Item 7 - Management's discussion and analysis of financial condition and results of operations Item 8 - Financial statements and supplementary data Item 9 - Disagreements with accountants on accounting and financial disclosure Part III Item 10 - Directors and executive officers of the registrant Item 11 - Executive compensation Item 12 - Security ownership of certain beneficial owners and management Item 13 - Certain relationships and related transactions Part IV Item - 14 Exhibits, financial statement schedules and reports on Form 8-K Signatures PART 1 Item 1: Business General THE MORTGAGE BANCFUND OF AMERICA, is a California Limited Partnership (the "Partnership") of which the general partners are Robert Y. Strom and the Mortgage BancFund Corporation (the Corporation), a California Corporation wholly owned by Mr. Strom. The Partnership was organized to make first and second trust deed commercial real estate loans in the southern California area. The Partnership currently manages operational real estate projects which were acquired through foreclosure. Consolidated Operations The attached financial statements are reported on a consolidated basis with partnership interests which own real estate acquired through foreclosure. State of the Economy The southern California economy continues to be the most important factor which affects the operations of the Partnership. Throughout 1994 and 1995 large industries announced large employee layoffs, plant closings and relocation efforts to other states. All of this has depressed real estate values in the local area. Management is of the opinion that the economy could continue to decline for at least the next two to five years adversely affecting rental rates and property values in general. Employees The Partnership does not directly employ personnel. The Corporate general partner handles all the business affairs of the partnership with its remaining full-time staff of one employee. Item 2: Properties: The Partnership does not own any real property other than foreclosed properties acquired during the normal course of bus -----END PRIVACY-ENHANCED MESSAGE-----