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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): September 2, 1998
MEGO MORTGAGE CORPORATION
(Exact name of registrant as specified in its charter)
DELAWARE 0-21689 88-0286042
(State or other jurisdiction (Commission File Number) (IRS Employer
of incorporation) Identification Number)
1000 PARKWOOD CIRCLE
SUITE 500
ATLANTA, GEORGIA 30339
(Address of principal executive offices, including zip code)
Registrant's telephone number, including area code: (770) 952-6700
NOT APPLICABLE
(Former Name or Former Address, if Changed Since Last Report)
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Item 5. Other Events
On September 2, 1998, Mego Mortgage Corporation (the "Company") issued
a press release announcing that Jeffrey Moore had resigned as a director of the
Company and as its President and that William Paul Ralser had been appointed to
replace Mr. Moore as President of the Company and as the Company's Chief
Operating Officer.
Item 7. Exhibits
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Exhibit No.
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99.1 Press release dated September 2, 1998
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Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
Date: September 16, 1998
MEGO MORTGAGE CORPORATION
By: /s/ James L. Belter
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James L. Belter
Executive Vice President
Treasurer and Chief Financial Officer
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EXHIBIT INDEX
99.1 Press release dated September 2, 1998
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EXHIBIT 99.1
NEWS
BULLETIN MEGO MORTGAGE
1000 PARKWOOD CIRCLE
FROM: 5TH FLOOR
FRB ATLANTA, GA 30339
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The Financial Relations Board, Inc.
FOR FURTHER INFORMATION:
AT THE COMPANY AT THE FINANCIAL RELATIONS BOARD
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Champ Meyercord, Chief Executive Gen'l Info: Paula Schwartz (212) 661-8030
Officer and Chairman Analyst Info: Cecelia Heer (212) 661-8030
(800) 550-6346 Media Info: Alan Goldsand (212) 661-8030
FOR IMMEDIATE RELEASE
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September 2, 1998
MEGO MORTGAGE CORPORATION ANNOUNCES THE ELECTION OF
WILLIAM PAUL RALSER AS PRESIDENT AND CHIEF OPERATING OFFICER
Chairman & President of First Fidelity Bancorp and
Former Executive of Countrywide Funding Corporation
Brings Over 30 Years of Mortgage Lending Experience
ATLANTA, GA, SEPTEMBER 2, 1998 -- Mego Mortgage Corporation (Nasdaq:MMGC) today
announced that William Paul Ralser, 57, was appointed President and Chief
Operating Officer of the Company, replacing Jeffrey S. Moore, 40, who has
resigned as President and as a Director of the Company.
Champ Meyercord, Chairman of the Board and Chief Executive Officer of
Mego Mortgage noted, "We thank Jeff for his valuable contributions to the
Company. Jeff founded Mego Mortgage and takes with him our best wishes for
success."
Mr. Ralser, who was elected a Director of the Company as part of Mego
Mortgage's successful recapitalization in July, has served since 1996 as the
Chairman of the Board and President of First Fidelity Bancorp, Inc., an
FDIC-insured California Thrift and Loan company. Prior to joining First
Fidelity, Mr. Ralser had a successful 10-year career at Countrywide Funding
Corporation, where he was Executive Vice President. While at Countrywide, among
other things, his responsibilities included the turnaround of Countrywide Thrift
and the start-up of the Affordable Housing Division. Mr. Ralser is a Magna Cum
Laude graduate of the University of Notre Dame, where he earned his B.B.A. in
Finance.
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Commenting on this most recent addition to Mego Mortgage's management
team, Mr. Meyercord stated, "We are delighted to welcome Paul in his new
positions as President and Chief Operating Officer of Mego Mortgage. Paul has
over 30 years of experience in all aspects of the mortgage lending business,
including a wealth of operating and underwriting expertise. Paul will be a key
player in the Company's development as a specialty finance lender."
Mego Mortgage Corporation is a specialty finance company that
originates, purchases and sells debt consolidation, home improvement and other
equity-based loans collateralized by liens on the borrower's home. The Company
is based in Atlanta, Georgia and originates its loans nationwide through
diversified origination channels.
# # #
This press release contains "forward-looking statements" within the meaning of
the Private Securities Litigation Reform Act of 1995. Such forward-looking
statements involve known and unknown risks, uncertainties or other factors which
may cause actual results, performance or achievements of the Company to be
materially different from any future results, performance or achievements
expressed or implied by such forward-looking statements. For more complete
information concerning factors which could affect the Company's results,
reference is made to various disclosures in the Company's periodic reports,
including reports on Forms 10-K, 10-Q, and 8-K, as well as other documents filed
with the Securities and Exchange Commission.
To receive Mego Mortgage's latest news release and other corporate documents via
FAX -- NO COST -- please dial 1-800-PRO-INFO. Use Company's ticker MMGC.
