Acceptance Capital Mortgage Corporation Announces Opening of Structured Products Group, LLC and Third Party Origination Busin...

Acceptance Capital Mortgage Corporation (“ACMC”), a wholly owned subsidiary of Complete Financial Solutions Inc. (OTC trading symbol “CFSU”) today announced recent developments in two important growth initiatives:

1) Acceptance Capital Structured Products Group, LLC, an Indiana-based company owned by ACMC and a group headed by William Johnston, is now accepting funded loans from ACMC for sale into the secondary investor markets.

2) Through its new Indiana-based corporate office, ACMC has begun in-house underwriting and approval of loans for delivery to the structured products group.

“It is significant that both of these operations are now up and running and producing business,” stated Allen Ringer, CEO of CFSI. “The addition of these functions together with the new entity, first announced in January has resulted in ACMC’s approval and funding of both first-party and third-party business. First-party business consists of loans originated by ACMC branches and employees. Third-party business is new for ACMC, and is where a loan is underwritten, approved and funded by ACMC on behalf of another company that has originated the loan. Effectively we have become true Mortgage Bankers, which gives us significant, additional financial opportunity.”

Mr. Ringer added, “These new ventures bode well for CFSI and for our customers as we will now control more of the revenue streams from each originated and funded loan. Our goal is to effectively manage these revenue streams, thereby passing the best value back to our borrowers while attaining maximum revenue for our company. The simultaneous management of these complex services is simplified by AlliancePro Processing Corporation [another CFSI subsidiary] enhancing its proprietary software systems currently in place.”

About CFSI

Complete Financial Solutions Inc. is an emerging financial services company. Through its subsidiary companies, CFSI offers mortgage origination and processing services in 26 states. Acceptance Capital Mortgage Corporation (“ACMC”) is a HUD approved lender allowing ACMC to both bank and broker FHA loans. ACMC offers a spectrum of common and niche mortgage products through a variety of correspondent and broker relationships. Insurance Solutions Inc. offers protection products to mortgage customers of ACMC and to the general public, where properly licensed to do so. For more information, visit our website at www.cfsi.biz.

Complete Financial Solutions Inc.Allen Ringer, 509-462-9236CEOaringer@cfsi.bizorRich Inza, 954-251-0616Investor Relationsrinza@cfsi.biz

Complete Financial Solut... (PK) (USOTC:CFSU)
과거 데이터 주식 차트
부터 11월(11) 2024 으로 12월(12) 2024