FORUM MARKETS Inc 8-K

What Happened
Forum Markets, Inc. (FRMM) reported on March 27, 2026 that its wholly owned subsidiary, ETHZilla Modular Mortgage LLC (EMM), entered a Master Loan Purchase Agreement (MLPA) and Master Loan Servicing Agreement (MLSA) with Zippy Loans, LLC on March 23, 2026. The MLPA establishes a revolving forward-flow program under which EMM may purchase manufactured-home chattel loan receivables from Zippy Loans up to an aggregate commitment of $150,000,000 over a five-year term. Concurrently, EMM and Zippy Loans executed an initial Purchase Commitment (Mar 23–Jun 30, 2026) for up to $15,000,000, and FRMM acquired 31 manufactured-home loans on March 23, 2026 for $1,436,710.67, funded with cash on hand. Under the MLSA, Zippy Loans will service purchased loans and remit collections (net of fees and reimbursable expenses) to EMM monthly.

Key Details

• Total MLPA commitment: up to $150,000,000 over a five-year term.
• Initial Purchase Commitment period: March 23, 2026 through June 30, 2026; commitment up to $15,000,000.
• Initial acquisition: 31 manufactured-home chattel loans for $1,436,710.67, funded with cash on hand.
• Servicing: Zippy Loans to service loans; fees are tiered by FICO and include a minimum monthly servicing fee; collections held in a segregated servicing account.
• Additional terms: loans must meet eligibility criteria (e.g., FICO, LTV, loan size/term, geographic limits); Zippy provides representations, repurchase obligations on certain events, indemnities and confidentiality. FRMM reported it owns ~15% of Zippy, Inc. (Zippy Loans’ parent).

Why It Matters
This agreement creates a structured, ongoing channel for FRMM to acquire manufactured-home loan assets, potentially growing its receivables and related interest income. The MLPA’s $150M capacity and initial $15M commitment signal material growth potential versus the one-time earlier purchase disclosed in January 2026. Key investor considerations from the filing include credit quality controls (FICO, LTV limits), repurchase exposure to the seller, servicing reliance on Zippy Loans (and associated fees), and the related-party aspect that FRMM holds an ownership stake in Zippy’s parent company. The initial purchase was funded from cash on hand, which is a near-term liquidity note for investors.