Here is one - I still have to find the ridiculous one.
Mortgage Bankers Holding Corp. Announces its Mortgage Division Has been
Approved As a Fannie Mae Lender to Sell First Mortgages
CARNEGIE, Pa., Dec. 18 /PRNewswire/ -- Mortgage Bankers Holding Corp. (OTC
Bulletin Board: MBHC) announced today that its mortgage division, Mortgage
Bankers Service Corporation, Inc. (MBSC) has been approved as a Fannie Mae
lender to sell first mortgages. With this approval, MBSC may participate
immediately in Fannie Mae's mortgage programs on a nationwide basis through
all of Fannie Mae's regional offices.
Since its creation by Congress in 1938 and its evolution into a
shareholder owned company in 1968, the Federal National Mortgage
Association's (Fannie Mae's) mission has been to provide financial products
and services that increase the availability and the affordability of
housing for low, moderate and middle-income Americans.
Fannie Mae approval is a standard requirement and/or compensating
factor for State licensing, investor correspondent approvals and warehouse
lending on a nationwide basis. As such, Fannie Mae approval speaks to the
stability of MBSC in the Secondary Market. Mortgage Bankers Service
Corporation's President, James F. Carr, stated, "the appointment of MBSC as
a Fannie Mae lender provides MBSC with a Secondary Market conduit to
purchase whole loans and improve pricing through production as well as
opens opportunities for MBSC to became a correspondent lender with other
Secondary Investors. Additionally, Fannie Mae approval will allow MBSC to
have greater liquidity for additional lending, enabling MBSC to increase
earning potential as well as to better serve the community's housing
needs."
MBSC will further benefit as a direct result of its relationship with
Fannie Mae by having greater product variety, pricing flexibility, state of
the art technology, extensive training opportunities, and exposure to
industry professionals dedicated to the highest level of service.
Mortgage Bankers, Holding Corp. is a diversified technology-based
financial services company which, through its subsidiaries, utilizes data
transfer and exchange to offer a full spectrum of financial and asset
management services and products.
SOURCE Mortgage Bankers Holding Corp. |
