Allied Mortgage and Financial Corporation Completes Residential and Commercial Deals in Colorado.

SUNRISE, Fla. -- Allied Mortgage and Financial Corporation, a wholesale collateral-based lender specializing in hard equity, today announced it has completed several transactions in Colorado, including the refinance of a historic property in downtown Denver and a rehab of a ski resort rental property in Breckenridge.

The ski resort property is a family residence left unfinished by the family that previously owned it. Purchased by a local developer, Allied provided a rehab loan enabling the developer to finish renovations to the home, which upon completion is valued at $2.5 million. Allied provided a loan amount based on the completion value, doing escrow draws to release funds to the borrower.

"Allied has always been committed to providing a broad spectrum of lending products to help a diverse group of borrowers," said Anthony Chao, COO, Allied Mortgage and Financial Corporation. "As a direct lender for both residential and commercial properties, Allied is able to find solutions for a variety of properties - from condo conversions to office buildings. Recently, the company embarked on several strategic initiatives that enabled Allied to continue its momentum and promote its solutions on a wider scale."

In Denver, Allied loaned $1.19 million for the conversion of an eight-unit condo complex. Unlike other institutions, which may require a certain number of presales prior to closing the loan, Allied lends based on the sell out value. For this property sell out value is estimated at $1.7 million. Similar to the rehab product, escrow draws are set up to release money to the borrower as the work is completed.

"Recently, our company became licensed to do business in additional states, Colorado being one of them," said Elliot Grub, senior vice president and chief credit officer, Allied Mortgage and Financial Corporation. "With increasingly stringent credit requirements, we are seeing a greater need for collateral-based lending solutions. These deals are indicative of the demand for our solutions, and we look forward to working with borrowers across the U.S. that can be helped by our products and services."

About Allied Mortgage and Financial Corporation

Headquartered in Sunrise, Fla., Allied Mortgage is a wholesale collateral-based lender specializing in residential, commercial, and correspondent hard money lending. Allied Mortgage works with borrowers who may be constrained by time or an impaired credit history, lack of ability to document income, unique property types, debt coverage ratios unacceptable to banks and provides solutions based on property values. The company offers foreclosure bailout and subprime fallout loans. Currently operating in five states, the company is in the process of expanding to several other states across the nation. For more information about Allied Mortgage, please visit the company on the Web at www.alliedmortgage.net.