Advanced Financial announces letter of intent to acquire several real estate related companies.SHAWNEE, Kan.--(BUSINESS WIRE)--Aug. 15, 1995--Advanced Financial Inc. (AMEX AMEX See: American Stock Exchange :AVF) announced that it has entered into a letter of intent with a private group to acquire several real estate related companies. Negotiations are continuing with respect to the material terms and conditions of a definitive agreement. No further details about the potential acquisitions will be available until the definitive agreement has been executed. Advanced Financial Inc. (AFI) is an American Stock Exchange American Stock Exchange (AMEX) Stock exchange in the U.S. Originally known as “the Curb,” it began as an outdoor marketplace in New York City c. 1850. It moved indoors to its present location in the Wall Street area in 1921. listed holding company with its principal operations conducted through the wholly owned AFI Mortgage Corp. (AFIM AFIM Association for Independent Music ) subsidiary. AFIM is a full service residential mortgage banking company originating and servicing single family first and second mortgage loans. AFIM has all approvals necessary to service mortgages for the Federal National Mortgage Association (FNMA), Federal Home Loan Mortgage Corporation Federal Home Loan Mortgage Corporation, commonly known as Freddie Mac, privately owned, government-sponsored organization that uses private capital to buy home mortgages as a means to help lower housing costs. (FHLMC See Federal Home Loan Mortgage Corporation. ), Government National Mortgage Association (GNMA) and private investors in secondary mortgage markets. CONTACT: Advanced Financial Inc., Shawnee Brad Morris, 913/441-1160 |
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