Monday August 10, 1:19 pm Eastern Time
Company Press Release
First Americans President Participates in Office of Thrift Supervision Native American Conference.
LENEXA, Kan.--(BUSINESS WIRE)--Aug. 10, 1998--First Americans Mortgage Corp., a subsidiary of AmeriResource Technologies Inc. (OTC BB:ARET - news), announced Monday the participation of their President Dustan R. Shepherd in the recent conference sponsored by the Office of Thrift Supervision and the State of New Mexico Office of Indian Affairs.
The conference, ''Building Homes...Fulfilling Dreams...Sustaining Communities'' was held on Aug. 4 & 5 in Albuquerque, N.M. and was attended by more than 225 individuals from across the country representing lenders, nonprofit organizations, government officials and members of tribal government.
Shepherd participated on a panel titled "Successful Tribal Lending Programs." He discussed the development and implementation of the Chickasaw Initiative and the possible expansion of the product to other locations.
Concurrent with the OTS conference the Office of the Comptroller of the Currency sponsored a conference on Native Americans Economic Development in Washington, D.C. On Thursday President Clinton announced at that conference an initiative between the U.S. Department of Treasury and the U.S. Department of Housing and Urban Development to develop a pilot program for a one-stop mortgage center on the Navajo Nation and one other reservation to be announced later.
Shepherd assisted in writing the original proposal while a consultant for the Navajo Partnership for Housing. The concept is to create a program where members of the Navajo Nation can come to one office to obtain a homesite lease and the subsequent approval from the Bureau of Indian Affairs, a mortgage and construction service. The Navajo Nation has a documented need for over 10,000 homes.
AmeriResource Technologies Inc. is a holding company that through its subsidiaries, is a full service mortgage, consulting and design/construction firm based in Lenexa, specializing in construction management services and economic development both within and outside the Native American Community.
This release may contain forward looking statements that involve risks and uncertainties, including without limitations, continued acceptance of the company's products and services, increased levels of competition, new products and technological changes.
The company's dependency on financing third party suppliers and intellectual property rights and other risks detailed from time to time in the company's federal filings, annual reports, offering memorandums, or prospectus.
Contact:
AmeriResource Technologies Inc., Lenexa
Dustan R. Shepherd, 913/859-9236
or
Robert Solarchik, 800/913-9767
954/346-5796 |
