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(COMTEX) B: IMN Financial Announces That It Has Entered Into a "Gesta B: IMN Financial Announces That It Has Entered Into a "Gestation" Warehouse Lender Agreement With Prudential Securities Credit
MELVILLE, N.Y. (Sept. 3) BUSINESS WIRE -Sept. 3, 1998--Edward R.
Capuano, President and Chairman of the Board of Directors of IMN
Financial Corp. (OTC BB:IMNF), was pleased to announce today that the
Company has entered into a Mortgage Loan Purchase and Sale Agreement
between its retail mortgage banking subsidiary, Island Mortgage Network Inc. and Prudential Securities Credit Corporation (New York, NY).
The amount of this "Facility" is twenty-five million dollars ($25,000,
000). In commenting on this new relationship, Capuano expressed
"excitement in being associated with another fine organization like
Prudential."
The year 1998 continues to pave the way towards future growth, and
sustained profitability, and has put the Company on solid footing. The
Company continues to focus on building its retail mortgage network
through synergistic acquisitions.
Except for the historical information contained herein the matters
discussed in this news release include forward-looking statements that
may vary significantly based on a number of factors, including but not
limited to, risks in product and technology development, market
acceptance of new products and continuing product demand, the impact of competitive products and pricing, changing economic conditions, both here and abroad, and other risk factors detailed in the Company's most recent annual report, and other filings with the Securities and
Exchange Commission.
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CONTACT: IMN Financial Corp., Melville
Edward R. Capuano, Chief Executive Officer
Cheryl Schneider, Public Relations
516/844-9805
KEYWORD: NEW YORK
INDUSTRY KEYWORD: BANKING Today's News On The Net - Business Wire's
full file on the Internet
with Hyperlinks to your home page.
URL: businesswire.com
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