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(Sherman Oaks, CA, Oct. 26, 2006) – Metrocities Mortgage, a leader in the national residential mortgage lending market, has been selected to join with the California Association of Realtors®, Freddie Mac, the National Association of Hispanic Real Estate Professionals (NAHREP), the League of United Latin American Citizens (LULAC), First American Title Insurance Company, the California Housing Finance Agency (CalHFA) and others, in its California Latino Homeownership Initiative.

The initiative is designed to educate real estate professionals on how to serve Latino home buyers and significantly expand homeownership opportunities for Latino families.

“We are very honored to be selected as a mortgage partner in this important initiative,” explained Virginia Martinez, Senior Vice President, Southern California Region, Metrocities Mortgage. “We have long been committed to addressing the needs of ‘expanding markets’ via our MetroAmerica Division. This partnership is acknowledgement of the work we have done in serving underserved, Latino populations.”

One component of the California Latino Homeownership Initiative is a course entitled, “Tapping New Markets: The Latino Homebuyer,” which has been approved by the California Department of Real Estate (DRE) for two units of continuing education credit. The course provides facts on Latinos, strategies for reaching and communicating with home buyers, information on homeownership assistance programs available in California, and a detailed presentation on flexible “emerging markets” mortgages available through the participating lenders.

Other elements include outreach such as home buyer fairs/workshops, promotion of affordable mortgage programs and facilitating access to public agency assistance for income-qualified borrowers from the California Housing Finance Agency (CalHFA).

For additional information on Metrocities Mortgage, please call (800) 215-7138. For more information on the California Latino Homeownership Initiative, please contact Adriana Guerrero at (213) 739-8297, or via e-mail at adrianag@car.org.
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Metrocities Mortgage, LLC
Established in 1989, Metrocities Mortgage is ranked in the top 1 percent of residential mortgage lenders nationwide for closed loan volume. Headquartered in Sherman Oaks, California, Metrocities Mortgage has become a leading nationwide lender based on unique loan programs and successful joint ventures (affiliated business arrangements) 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. As America’s Best Relationship Lender SM. Metrocities Mortgage is renowned for its in-house lending expertise, wide selection of loan programs and Heroic Customer Service SM. For additional information, please contact (800) 215-7138 or visit www.metrocitiesmtg.com.