First NLC Financial Services, Inc. operates as an independent nonprime mortgage banking company, originating mortgage loans in 38 states across the United States. It originates, underwrites, and funds mortgage loans secured primarily by single-family residences; and sells those loans on a cash basis to institutional loan purchasers. The company markets the loan products to a network of approximately 4,000 approved independent brokers through its wholesale channel. It also originates nonprime and prime loans through its retail channel, consisting of 24 branch offices located in 13 states. Neal S. Hensche and Jeffrey M. Henschel co-founded the company in 1999. First NLC is headquartered in Deerfield Beach, Florida; and has operations centers in Anaheim, California; Concord, California; Tampa, Florida; and Chicago, Illinois. As of 02/16/2005, First NLC Financial Services Inc. is a subsidiary of Friedman Billings Ramsey Group Inc. On January 18, 2008, First NLC Financial Services LLC filed a voluntary petition for reorganization under Chapter 11 in the U.S. Bankruptcy Court for the Southern District of Florida, West Palm Beach.