American Business Financial Services, Inc. Honored With Business Excellence Award From Greater Philadelphia Chamber of Commerce.Business Editors BALA CYNWYD, Pa.--(BUSINESS WIRE)--May 29, 2001 American Business 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. , Inc. (Nasdaq:ABFI), a diversified financial The diversified financial services segment includes a range of consumer and commercially-oriented companies offering a wide variety of products and services, including various lending products (such as home equity loans and credit cards), insurance, and securities and investment services company operating nationwide, was advised by the Greater Philadelphia Chamber of Commerce that it has earned the Chamber's prestigious Business Excellence Award for its `Best Practices' approach to doing business in its Upland Upland, city (1990 pop. 63,374), San Bernardino co., S Calif., in a citrus-fruit region at the foot of the San Gabriel Mts.; inc. 1906. Citrus fruits and grapes are packed and processed in the city. Paint, orchard heaters, auto parts, and feed products are also made. Mortgage consumer lending Consumer lending or consumer loans refers to any type of loan product that is not a mortgage; such as a car, boat, manufactured home, home equity loan, home equity line of credit, signature loan, signature line of credit, recreational vehicle, or Certificate of Deposit loans. subsidiary. ABFI is one of only 15 Philadelphia-area companies, and only one of two financial services companies, that received this honor, which is based on guidelines established from the prestigious Malcolm Baldridge National Quality Award. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. ABFI Chairman and Chief Executive Officer Anthony J. Santilli, "We have always prided ourselves on doing business the right way, every day. To have such a high honor given to us by the Chamber of Commerce is extremely gratifying grat·i·fy tr.v. grat·i·fied, grat·i·fy·ing, grat·i·fies 1. To please or satisfy: His achievement gratified his father. See Synonyms at please. 2. , because it confirms that our `Best Practices' approach to business is in the best interest of all of our stakeholders--our customers, our shareholders, our employees, and the community. By combining the best of human and technological excellence, ABFI is serving our customers in new and meaningful ways." ABFI will be honored at an award dinner on June 7, 2001, and the Company's success story will be published in the Chamber of Commerce's book, Profiles of Excellence. American Business Financial Services, Inc., is a diversified financial services holding company operating nationwide, which provides credit services and investment products to consumers and businesses, including business loans, first and second home equity mortgage loans, and subordinated investment notes. For further information, contact Keith Bratz, VP-Corporate Communications, 610-617-7475. Certain statements contained in this press release, which are not historical fact, may be deemed to be forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. under federal securities laws. There are many important factors that could cause American Business Financial Services, Inc. and its subsidiaries' actual results to differ materially from those indicated in the forward-looking statements. Such factors include, but are not limited to, general economic conditions, including interest rate risk, future residential real estate values, regulatory changes (legislative or otherwise) affecting the real estate market and mortgage lending activities, competition, demand for American Business Financial Services, Inc. and its subsidiaries' services, availability of funding, loan payment rates, delinquency and default rates, changes in factors influencing the loan securitization Securitization The process of creating a financial instrument by combining other financial assets and then marketing them to investors. Notes: Mortgage backed securities are a perfect example of securitization. May also be spelled as "securitisation. market and other risks identified in American Business Financial Services, Inc.'s Securities and Exchange Commission |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion