Allied Mortgage National Convention Celebrates Record Year; Trade Show Features More Than 80 Exhibitors.

Business Editors

HOUSTON--(BUSINESS WIRE)--Feb. 20, 2001

Concluding the most successful year in its history, ten-year-old Allied Mortgage Capital Corporation celebrated its achievements at its 2nd National Convention, Feb. 15-17, 2001 in Houston. Attended by more than 800 employees from its branch and corporate offices, the mortgage industry's leading branch network company was addressed in general session by CEO Jim Hodge.

The accompanying trade show featured eighty booths from most of the leading lenders and service providers in the mortgage industry. Ron Litt, CIO of Allied, commented, "the number of exhibitors at our convention is more than you see at most regional broker shows. It's a testament to Allied's strength and industry position."

In his keynote address, CEO Hodge lauded Allied's achievements over the past year. With industry wide originations down over 18 percent, Allied finished 2000 with an increase in funded loans 24 percent over 1999. Hodge commented on Allied's technology successes including the first electronically signed mortgage and Lending Concourse, the first multi-lender automated underwriting engine for sub prime loans. Lending Concourse is a joint venture with WMC Mortgage Corp.

Several new initiatives were announced at the convention. Among them was a non-profit down payment assistance program, known as Alliance Housing Assistance provided through the United American Housing and Education Foundation. Executive Vice President David Hail represented the foundation. Another new program announced was Allquest Real Estate Corporation, a national real estate franchise, being offered to Allied Mortgage branch managers. Allquest Operations Manager Don Davis conducted several break out sessions at the convention, regarding the Allquest initiative.

"Allied's success was built upon the speed with which Allied can adapt to changes, its technological superiority and the market power of its more than 540 branches. There is no company in the USA that has the ability to take advantage of the speed of change more than Allied," said Hodge. During his remarks he paraphrased the principles of eighteenth century British economist Adam Smith by saying, "the corporate philosophy at Allied is based on a greater sense of self-determination, an expectation of rewards, and recognition of efforts. To the maximum extent possible, that has been accomplished at Allied."

About Allied Mortgage Capital Corporation

Allied Mortgage Capital Corporation is the largest U.S. privately held mortgage banker/mortgage broker, with 540 offices in 49 states, Guam and the Virgin Islands. Allied's development of over 700 investors with several thousand programs and innovative partnerships have allowed it to deliver customized products to each borrower. Combined with the energy of branch managers who have the freedom to respond to local market conditions, 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 and www.mortgageasap.com.

Corporate address: Allied Mortgage Capital Corporation, 6110 Pinemont Ave., Houston, TX 77092. Telephone: [phone].