Allied Home Mortgage Launches LOAN EZ Web Portal and Celebrates Banner Year With Record Crowd at National Convention.

Business Editors

HOUSTON--(BUSINESS WIRE)--Oct. 30, 2002

In celebration of what has become almost routine leap-frog success from the previous year, Allied Home Mortgage Capital Corporation (AHMCC) held its largest and most prestigious convention Sept. 10-15, 2002 at the Hyatt Regency Hotel Downtown in Houston. Nearly 1,500 branch managers, loan originators and processors attended the company's national event, doubling the previous year's attendance.

The convention celebrated Allied's banner year of achievements in 2001 including:

-- Providing $9 billion in residential mortgages

-- Being named the top mortgage broker in the U.S. by www.mortgagestats.com

-- Launching www.prestamopronto.net - a Spanish-language Web site for consumers

-- Being named the exclusive mortgage lender for Carleton Sheets

-- Signing an agreement with Military.com to provide mortgage lending services to its membership

-- Debuting the TruApp automated fraud detection system

-- Expanding to roughly 750 branch offices in 49 states, Guam and the Virgin Islands

CEO Jim Hodge gave the keynote address in which he carried out the "Field of Dreams" event theme by lauding his employees as stars and encouraging them to continue to pursue their entrepreneurial dreams with the company.

Ron Litt, Sr. vice president for Technology and Marketing, made several announcements in his address including:

-- The launch of LOAN EZ, Allied's own Web portal for loan

services and lenders with an initial set of charter LOAN EZ

Partners

-- Allied was named a "Preferred Point Partner" by Calyx

Software, which now distributes Allied's proprietary LOAN EZ

interface with every copy of Point

-- Allied's "For Sale By Owner" initiative,

www.theyellowsign.com, now has a home inventory of over 7,000

homes whose value exceeds $1.6 billion

A companion trade show featured 110 booths from leading service providers and lenders in the mortgage industry. Fannie Mae and Freddie Mac were a part of this year's meeting for the first time, marking one of the few private conventions in which they were both present. Both the convention and trade show received rave reviews from attendees.

"We were very excited about the convention. Allied's success is nothing short of phenomenal and we are very pleased to have been such a large part of their efforts. 2001 was a banner year and 2002 looks to be on deck to exceed even that!" Fran Clemens, Sr. vice president of InterFirst Wholesale Mortgage Lending, said.

Tom Gay, Freddie Mac's loan prospector representative, commented, "We were so impressed by the quality and professionalism of Allied's employees that we want to return to the next convention with a greater level of participation."

One hundred and forty workshop and breakout sessions were offered to attendees (primarily employees of Allied's corporate office and more

than 750 national branches) on a variety of mortgage industry related topics. A new Underwriting Plaza was also unveiled where branch managers could bring processed loan files for on-the-spot review and approval.

About Allied:

Founded in 1991, AHMCC is the largest privately held mortgage banker/broker in the U.S., with offices in 49 states, Guam and the Virgin Islands. It offers a wide variety of mortgage products and services from over 800 lenders. Allied is a preferred lender on Military.com (the largest military Web site on the Internet) and the exclusive mortgage lender for Carleton Sheets. The company is approaching $1 billion dollars a month in financing. Allied has experienced sequential double-digit growth since it was founded in 1991.

For more information about the company, visit Allied's Web sites at www.branchasap.com, www.mortgageasap.com and its new Spanish language site, www.prestamopronto.net.