AMRESCO ANNOUNCES ACQUISITION OF CKSRS HOUSING GROUP, LTD.DALLAS--(BUSINESS WIRE)--May 11, 1995--AMRESCO, INC inc - /ink/ increment, i.e. increase by one. Especially used by assembly programmers, as many assembly languages have an "inc" mnemonic. Antonym: dec. . (Nasdaq: AMMB) announced today that its subsidiary, AMRESCO Capital Corporation, has signed a definitive agreement to acquire the assets of CKSRS Housing Group, Ltd., a Miami, Florida-based mortgage banking company specializing in the origination Origination The process through which a mortgage lender creates a mortgage secured by some amount of the mortgagor's real property. Notes: Also known as loan origination, everyone must go through the origination process when securing a mortgage for a piece of real , sale and servicing of multifamily mortgages in the state of Florida, as a Freddie Mac Freddie Mac: see Federal Home Loan Mortgage Corporation. Program Plus Multifamily Seller/Servicer. "This acquisition represents an important step in the expansion of AMRESCO's mortgage banking services," said Mike Maberry, President of AMRESCO Capital Corporation. "Through this acquisition, we are obtaining access to a significant source of funding for multifamily mortgages. Additionally, we will greatly expand our existing mortgage banking presence in the attractive Florida market." CKSRS Housing Group's activities will be consolidated into AMRESCO Capital Corporation's existing mortgage banking operations. Larry E. Silvester, Managing Partner of CKSRS Housing Group, will manage AMRESCO Capital's Florida activities, including Freddie Mac lending. The transaction is subject to Freddie Mac's approval of the transfer of the Program Plus designation and other normal closing conditions. AMRESCO is a leading real estate and financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. company. In addition to commercial mortgage banking, the company acquires and provides asset management services for distressed real estate loans and real estate properties. AMRESCO acquired Holliday Fenoglio, Inc., a Houston, Texas-based commercial mortgage banker Mortgage Banker A company, individual or institution that originates, sells and services mortgage loans. Notes: Don't confuse a mortgage banker with a mortgage broker. , in August 1994. Holliday Fenoglio is active in the Florida market through its Boca Raton Boca Raton (bō`kə rətōn`), city (1990 pop. 61,492), Palm Beach co., SE Fla., on the Atlantic; inc. 1925. Boca Raton is a popular resort and retirement community that experienced significant industrial development in the 1970s and 80s. and Orlando offices. AMRESCO Capital Corporation is a full-service commercial real estate mortgage company that was formed in mid- mid- pref. Middle: midbrain. 1994. CONTACT: Barry Edwards, Thomas J. Andrus AMRESCO, INC. (214) 953-7700 or Morgen-Walke Associates, Inc. Investor Contacts: Michele Katz Press Contacts: Paul Steidler, Jackie Day (212) 850-5600 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion