SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 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) July 26, 2000
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WESTMARK GROUP HOLDINGS, INC.
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(Exact name of registrant as specified in its charter)
Delaware
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(State or other jurisdiction of incorporation)
0-18945 84-1055077
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(Commission File Number) (IRS Employer Identification No.)
Westmark Group Holdings, Inc.
8000 North Federal Highway
Boca Raton, Florida 33487
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(Address of principal executive office) Zip Code)
Registrant's telephone number, including area code: (561) 243-8010
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Item 5: Other Events
Suspension of Operations
On July 26, 2000, we suspended operations of our wholly owned mortgage
banking subsidiary, Westmark Mortgage Corporation. The Westmark Mortgage
Corporation operations constituted all of our operations.
We were formerly engaged in the origination, purchase and re-sale to
investors of residential mortgage loans made to borrowers with sub- prime credit
histories through Westmark Mortgage Corporation.
All loans which were in our mortgage pipeline have been delivered to
various market investors on a brokerage basis. Westmark Mortgage Corporation is
also in the process of an orderly liquidation of its assets and existing loan
portfolio with a small workout team.
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 hereunto duly authorized.
WESTMARK GROUP HOLDINGS, INC.
Date: July 28, 2000 By: /s/ Mark D. Schaftlein
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Mark D. Schaftlein, President, Chief
Executive Officer, and Chairman of
the Board of Directors
