NAB Asset at Loss as Revenue Falls

NAB Asset Corp., a Mission Viejo financial services company, reported a fourth-quarter net loss of $2 million, or 40 cents a share, compared with a net loss of $1.2 million, or 24 cents a share, for the like period last year. Revenue declined 29% to $5.5 million. For the year, the company lost $6.6 million, or $1.29 a share, contrasted with net income of $162,000, or 3 cents a share, for 1998. Revenue declined 24% to $27.2 million. The company said it decided in the third quarter last year to dispose of its investments in Construction Lending Portfolio Services Inc., and its commercial lending business, Nafco Inc.