Apparently the same - originall formed as International Mercantile Corporation. bnet.com under Softnet Technology of New Jersey gives the following history:
International Mercantile Corporation, a Missouri corporation ("IMTL" or the "Company"), was founded on March 10, 1971, for the purpose of acquiring Frontier Insurance Company and Universal Life Holding Corporation. The Company effected these acquisitions on August 31, 1973. The Company subsequently acquired a controlling interest in Sterling Financial Corporation. Prior to 1997, the Company through various transactions which have previously been reported, divested itself of its entire ownership in these entities. In 1997, the Company acquired University Mortgage, Inc. , a diversified financial services company, which offers a full spectrum of financial and asset management services and products. The Company operates primarily on the East Coast and provides residential mortgages and equity investment. The Company also acquired Home American Mortgage Company, which as of December 1998 had no assets or operations. The Company does not retain any servicing rights on loans it originates.
Does this smkae sense? Originally founded as a financial company - I am really confused here......but other info Edgar etc, indicates that Softnet and IMTL are the same...
