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Monday September 27, 7:01 am Eastern Time
Company Press Release
SOURCE: Virtuallender.com, Inc.
Virtuallender.com, Inc. Announces Merger
Proceeding With University Mortgage, Inc.
SAN MATEO, Calif., Sept. 27 /PRNewswire/ -- Virtuallender.com, Inc. (OTC Bulletin Board: VLDC - news),
an on-line mortgage banker/direct lender, has announced today that it will merge with University Mortgage, Inc.,
a retail mortgage lender and broker serving residential homeowners in the Mid-Atlantic region.
University Mortgage, Inc. was established in 1984, and is licensed in Maryland, Virginia and Pennsylvania; it is
an approved loan correspondent with the United States Department of Housing and Urban Development
(HUD).
Maintaining two retail loan production facilities in the Washington, DC, and Baltimore, Maryland, metropolitan
areas, University Mortgage specializes in purchase mortgage originations within the Realtor and builder
community as well as niche marketing strategies utilizing targeted direct mail combined with sophisticated data
mining techniques.
University Mortgage, Inc. is currently exploring several potential strategic relationships -- including merger,
acquisition and financing transactions -- in order to accomplish the Company's business plan of becoming a
diverse E-Commerce financial services company with 50 state mortgage lending capability.
Michael Scott Hess serves as Chairman and CEO of University Mortgage, Inc. Since 1984, Hess has operated
as a merchant banker -- starting, acquiring, capitalizing and operating small to mid-size companies. Hess has
planned, managed and financed high profile domestic and international projects as well as public and private
companies in the mortgage banking, life insurance, real estate and other financial services industries.
``We are excited about the strategic integration of University Mortgage, Inc.'s East Coast mortgage operations
with Virtuallender.com's West Coast presence. The addition of Virtuallender.com's Internet origination and
wholesale sub-prime lending capabilities compliments our existing retail mortgage business. Access to
Virtuallender.com's state-of-the-art Internet technology is an integral step in University Mortgage, Inc.'s
expansion plan as a diversified national lender.'
Virtuallender.com, Inc. benefits consumers by providing a faster, flexible and more complete online mortgage
solution, avoiding the frustration, delays and costs of the traditional ``bricks and mortar' mortgage business
commonly used by consumers and Realtors. Virtuallender.com, Inc. is a subsidiary of Internet business incubator
M&A West, Inc. (OTC Bulletin Board: MAWI - news).
Virtuallender.com, Inc. has established close ties with some of the nation's leading lenders such as 1st Security
Crosslands, World, Dominion Resource/Saxon, PCFS and Downey Savings.
For more information on Virtuallender.com, Inc. visit virtuallender.com.
Statements regarding financial matters in this press release other than historical facts are ``forward-looking
statements' within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities
Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The
Company intends that such statements about the Company's future expectations, including future revenues and
earnings, and all other forward-looking statements be subject to the safe harbors created thereby. Since these
statements (future operational results and sales) involve risks and uncertainties and are subject to change at any
time, the Company's actual results may differ materially from expected results. |
