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(Sherman Oaks, CA, August 4, 2005) - Metrocities Mortgage, a leader in the national residential mortgage lending market, has been named the “Most Innovative Mortgage Company” for 2005 through the Inman Innovator Awards competition. The prestigious award recognizes the company’s use of technology and innovation to enhance the real estate transaction for consumers and real estate professionals.

“We are very honored to receive this important accolade,” explained Metrocities CEO Paul Wylie. “The real winners, however, are both our clients and business partners who benefit from Metrocities’ ‘one-stop’ shopping business model, proprietary loan search engine technology and Heroic Customer Service SM Guarantee.

“This award represents what we can accomplish with vision, teamwork and dedication,” he added.

Metrocities has built a successful platform upon the cornerstone of its business model – Affiliated Business Arrangements (ABAs) – in which the company forms strategic alliances with partnering members such as real estate agencies, builders and financial firms to provide the “one-stop” shopping experience preferred by real estate customers. In addition to the company’s recent national expansion efforts, Metrocities launched a business-to-business website (www.metrocitiesaba.com) in 2004 dedicated to providing robust information about its joint venture program. The company also updated its consumer site (www.metrocitiesmtg.com) with an emphasis on providing Heroic Customer Service SM and access to thousands of loan programs.

The Inman Innovator Awards is an annual competition conducted by Inman News, the nation's leading independent real estate news service and content provider. The Innovator awards, which were presented at an event on July 27, honor cutting-edge technology, business models and pioneers in online real estate, brokerage and mortgages. Runners-up in the “Most Innovative Mortgage Company” category included: Bank of America, Countrywide, DiTech, First Metropolitan Mortgage and Wachovia.

Established in 1989, Metrocities Mortgage is ranked in the top 1 percent of residential mortgage lenders nationwide for closed loan volume, closing over $6.3 billion* in 2004. 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 call (800) 215-7138, or visit us online at www.metrocitiesmtg.com. * Includes Metrocities’ family of companies.

Inman News ( www.inman.com) is the nation's leading independent real estate news service and content provider to 250+ U.S. newspapers and 50,000 Web sites, reaching millions of consumers each day through clients and partners such as The Los Angeles Times, Miami Herald, Washington Post, Denver Post, San Francisco Chronicle, Chicago Tribune, Yahoo!, Microsoft, Google, The Wall Street Journal Online and CBS Marketwatch. Inman News also offers information-based products and services for the real estate professional and consumer, including Inman News Membership, Digital Media and News content for the Web and Special Reports. Readership of www.inman.com now averages 5.5 million page views per month and includes real estate’s top brokers, agents, opinion leaders and decision makers. The company headquarters are located in Emeryville, California.