ROSWELL, N.M., April 26, 2012 /PRNewswire/ -- PSM Holdings, Inc. (OTCBB: PSMH-OB) will begin announcing monthly loan production numbers effective immediately. These numbers will be based upon the actual closings that took place the previous month prior to the release.
PSMH is proud to announce that in March, 2012, 266 closings occurred through its subsidiary PrimeSource Mortgage, Inc. The 266 closings represent an all-time high for the company for any given month. These closings amount to just under 50 million dollars of loan production. That production consisted of 53% refinance transactions, while 47% came from purchase transactions.
Jeffrey Smith, President of PrimeSource Mortgage, Inc. stated, "I am pleased with these March loan production numbers. The 266 closings are an all-time high for the company, and is further demonstration of the success of our overall growth strategy. I also believe that the composition of our loan volume, refinance versus purchase business, is a healthy blend of our overall loan production."
About PSM Holdings, Inc.
PSM Holdings, Inc., through its wholly owned subsidiary, PrimeSource Mortgage, Inc. (PSMI) provides mortgage brokerage and banking services across the United States. PSMI is currently licensed in many states across the United States, and oversees the operations of more than 30 branches. For more information, visit http://www.psmholdings.com.
Certain statements contained herein, including, without limitation, statements containing the words "believes," "intends" and other words of similar import, constitute "forward-looking statements" within the meaning of Section 7A of Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements include but are not limited to that we are in the process of furthering several of the key milestones we achieved last year and creating new growth opportunities for PSM Holdings, Inc. and its subsidiaries, and that we will continue to enter new projects and strategic partnerships in 2012. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of PSM Holdings, Inc. to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. PSM Holdings, Inc. disclaims any obligation to update or to announce publicly the results of any revision of the forward-looking statements contained or incorporated by reference herein to reflect future events or developments. In addition, loan production numbers are not necessarily indicative of future profitability of the Company, if at all.
Ron W. Hanna, President and CEO
SOURCE PSM Holdings, Inc.