Download PDF Version

(Sherman Oaks, CA, March 14, 2006) - Metrocities Mortgage today announced record closing figures for 2005. During the year, the residential lending leader and its family of companies tallied over $10 billion in closed loan volume - a 57% increase over its 2004 production. The company also announced that it plans to add Loan staff in 2006 to accommodate its ongoing growth.

In addition to the record number of closings, the company made significant strides toward achieving its goal of becoming the nation's No. 1 joint venture (JV) lender. In 2005, Metrocities:

• Experienced a 90% increase in its number of joint venture relationships over 2004
• Was named the "Most Innovative Mortgage Company" by Inman News real estate news service
• Received the CustomerSat ACE Award for mortgage borrower satisfaction
• Implemented a Heroic Customer ServiceSM Program which includes service-level guarantees, "great rate commitments" and communications pledges.

"In early 2005, we established the goal of becoming the country's No. 1 joint venture lender by the end of the decade," explained Paul Wylie, CEO, Metrocities Mortgage. "I'm pleased to report, and our significant growth last year shows, that Metrocities is on its way toward achieving that goal."

"Despite the industry's current trend toward consolidation, we continue to add new business relationships," added John Stewart, President, Western Division/Strategic Initiatives. "As such, we are hiring experienced Loan Officers nationally to help support this growth.""

Ranked in the top 1% of lenders nationwide, the cornerstone of Metrocities' business is its JV model, in which the mortgage banker forms strategic alliances with real estate agencies, builders, financial firms and others to provide the desired "one-stop," in-house shopping services for residential real estate clients.

Clients of Metrocities Mortgage and its JVs have access to more than 7,000 different loan programs and a company that has one of the highest loan application approval rates in the industry. The direct lender and preferred mortgage broker's full-service lending capabilities include both traditional and innovative loan programs tailored to meet the needs of every borrower. Examples include Interest-only, Stated Income/Stated Asset, and Vacation/Investment home financing.

The company received the 2005 national Inman News "Most Innovative Mortgage Company" award for its use of technology and innovation in enhancing the real estate transaction for consumers and real estate professionals. Runners-up included Countrywide, Bank of America, DiTech and others.

Additionally, the company recently received the mortgage Ace Award from CustomerSat, Inc., the leader in real-time, multi-channel feedback solutions for building customer satisfaction and loyalty. Fully 93% of clients responded that they "definitely will," or "probably will" recommend Metrocities and it affiliates to their friends. This satisfaction level is significantly higher than the industry average of 82%*.

About Metrocities Mortgage

Established in 1989, Metrocities Mortgage is ranked in the top 1 percent of residential mortgage lenders nationwide for closed loan volume, closing over $10 billion** in 2005. Headquartered in Sherman Oaks, California, Metrocities Mortgage has become a leading nationwide lender based on unique loan programs and successful joint ventures with key real estate companies, credit unions, financial advisor/business management companies, builders and other affinity groups. Loan Officers have access to over 7,000 loan programs and proprietary search engine technology enabling them to find the best loan products for their clients. *Mortgage Banking Magazine, Oct. 2005, CFI Mortgage Origination Satisfaction Program Survey. **Includes Metrocities' family of companies. For additional information, please contact 800) 215-7138 or visit www.metrocitiesmtg.com. 0206-129