Fieldstone Investment Corp (FICC) Amends Master Repurchase Agreement

May 21, 2007 4:16 PM EDT
In Today's 8-K Filing From Fieldstone Investment Corp. (Nasdaq: FICC): On May 15, 2007, Fieldstone Investment Corporation and Fieldstone Mortgage Company, a direct wholly owned subsidiary of Fieldstone entered into Amendment No. 5 to the Master Repurchase Agreement, dated as of July 14, 2006, as amended, with JPMorgan Chase Bank, N.A.

The Fifth Amendment extends the termination date of the Chase Master Repurchase Agreement from July 13, 2007 to October 31, 2007. In addition, in connection with the Fifth Amendment, Chase has waived any Event of Default under the Chase Master Repurchase Agreement and related agreements which may be triggered by the pending merger between Fieldstone and Credit-Based Asset Servicing and Securitization LLC.

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