Mortgage lender profit rises

Sunderland Corp. of Las Vegas, parent of mortgage lending firm Del Mar Mortgage, reported fourth quarter revenue of $3.1 million, up 150 percent from $1.2 million in the fourth quarter of 1998.

Sunderland's net income rose 137 percent to $708,000 or 11 cents per share from $298,000 or 5 cents a share one year earlier.

Through its Del Mar subsidiary, Sunderland has completed more than $500 million in lending transactions to more than 200 borrowers over the last three years. The company has approximately 4,500 investors.

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