Metrociti Reaches Historic Peak; March Is Biggest Month For Mortgage Funding and Origination in Company History

Apr 23, 2001, 01:00 ET from Metrociti Mortgage

    LOS ANGELES, April 23 /PRNewswire Interactive News Release/ -- Metrociti
 Mortgage and its affiliates today announced record funding and origination
 figures for the month of March.  At a time when many mortgage companies are
 focusing their efforts on refinancing, Metrociti reported over $170 million in
 total fundings for March, the majority being new purchase transactions.  March
 closed out the 1st Quarter 2001, resulting in a 36% increase in production
 over 1st Quarter 2000, despite a decline in home sales for the same period.
 Metrociti's 1st quarter production figures far exceeded expectations.
     Paul Wylie, president of Metrociti, attributed his company's unprecedented
 success to its unique business approach.  "We form strategic alliances with
 leading real estate brokers across the nation, as well as with leading credit
 unions, builder/developers and retailers.  That's our key."  Metrociti is
 recognized as an industry leader in forming Affiliated Business Arrangements
 (ABA's), with an eye on corporate synergy.  Wylie expressed optimism at the
 latest numbers.  "Our March numbers are proof positive that innovative
 products and sound business practices always foster growth," he added.
 
     Established in 1989, Metrociti is the largest independent, privately-held
 retail mortgage banker in the country, currently ranking among the top 1% of
 all lenders nationwide.  In 2000, it funded in excess of 1.5 billion dollars
 in residential mortgage loans.  With 17 branches across the western United
 States and over 350 loan consultants and support personnel, Metrociti has
 negotiated over 45 profitable ABA's, making it the #1 ABA provider in the
 West.  Metrociti enjoys an industry-leading success ratio of 80% in its ABA's
 with many of the nation's top privately-held real estate companies.  "We're
 enjoying our current success but we're also focused on the future.  And the
 future is growth," Wylie concluded.
 
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SOURCE Metrociti Mortgage
    LOS ANGELES, April 23 /PRNewswire Interactive News Release/ -- Metrociti
 Mortgage and its affiliates today announced record funding and origination
 figures for the month of March.  At a time when many mortgage companies are
 focusing their efforts on refinancing, Metrociti reported over $170 million in
 total fundings for March, the majority being new purchase transactions.  March
 closed out the 1st Quarter 2001, resulting in a 36% increase in production
 over 1st Quarter 2000, despite a decline in home sales for the same period.
 Metrociti's 1st quarter production figures far exceeded expectations.
     Paul Wylie, president of Metrociti, attributed his company's unprecedented
 success to its unique business approach.  "We form strategic alliances with
 leading real estate brokers across the nation, as well as with leading credit
 unions, builder/developers and retailers.  That's our key."  Metrociti is
 recognized as an industry leader in forming Affiliated Business Arrangements
 (ABA's), with an eye on corporate synergy.  Wylie expressed optimism at the
 latest numbers.  "Our March numbers are proof positive that innovative
 products and sound business practices always foster growth," he added.
 
     Established in 1989, Metrociti is the largest independent, privately-held
 retail mortgage banker in the country, currently ranking among the top 1% of
 all lenders nationwide.  In 2000, it funded in excess of 1.5 billion dollars
 in residential mortgage loans.  With 17 branches across the western United
 States and over 350 loan consultants and support personnel, Metrociti has
 negotiated over 45 profitable ABA's, making it the #1 ABA provider in the
 West.  Metrociti enjoys an industry-leading success ratio of 80% in its ABA's
 with many of the nation's top privately-held real estate companies.  "We're
 enjoying our current success but we're also focused on the future.  And the
 future is growth," Wylie concluded.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X53388565
 
 SOURCE  Metrociti Mortgage