American Home Mortgage Holdings Announces Exclusive Agreement With CIBC's Amicus Holdings Inc.Business Editors NEW YORK--(BUSINESS WIRE)--Feb. 26, 2002 American Home For the American mortgage lender, see . The American Home is a center of intercultural exchange located in Vladimir, Russia. The home is designed to model a typical American suburban home and its main focus is the ESL school that provides lessons for Russian students. Mortgage to Provide Mortgage Services to Amicus AMICUS Automated Management Information Civil Users System Holdings' Private Label Partners Safeway SELECT Bank(TM)and Marketplace Bank(TM) American Home Mortgage Holdings, Inc., (Nasdaq: AHMH AHMH American Home Mortgage Holdings, Inc. ) one of the nation's largest independent retail mortgage bankers Mortgage Banker A company, individual or institution that originates, sells and services mortgage loans. Notes: Don't confuse a mortgage banker with a mortgage broker. , and Amicus Holdings Inc., an electronic banking division of Canadian Imperial Bank of Commerce The Canadian Imperial Bank of Commerce TSX: CM NYSE: CM, better known to most customers as CIBC, is one of Canada's major banks. CIBC is classified as a Domestic Chartered Bank (Schedule I). (NYSE NYSE See: New York Stock Exchange : BCM BCM Baylor College of Medicine BCM Become BCM Business Communications Manager (Nortel) BCM Broadcom Corporation BCM Business Continuity Management BCM Business Contact Manager (Microsoft) ), announced today an exclusive agreement. American Home Mortgage's online mortgage channel, MortgageSelect.com will provide private label mortgage origination services to Amicus Holdings' private label banks, specifically Safeway SELECT Bank in California, Arizona, Washington, Colorado, Oregon and Nevada www.safewayselectbank.com and Marketplace Bank in Florida www.marketplacebank.com. Amicus Holdings' private label banking programs, Safeway SELECT Bank and Marketplace Bank, are able to draw upon the strength of American Home Mortgage's position as a large mortgage originator to provide low prices and great mortgage rates. These financial institutions will now accommodate their customers' demands for mortgage services, while MortgageSelect.com handles everything from providing products to processing and underwriting Underwriting 1. The process by which investment bankers raise investment capital from investors on behalf of corporations and governments that are issuing securities (both equity and debt). 2. The process of issuing insurance policies. the loan. And because the relationship is private labeled, all activity is provided under the bank's own brand. "We chose MortgageSelect.com to outsource our mortgage services because of their commitment to superior customer service, extensive product selection and competitive mortgage rates," said Rob Almeida, chief officer of strategy and development for Amicus Holdings. "We believe they are one of the most highly rated online mortgage lenders in the industry and their online platform will enable us to seamlessly extend our product and service offering. This agreement will allow us to provide front end banking services to prominent brands, while having MortgageSelect.com provide backend mortgage services." Through this offering, Amicus Holdings' private label banking programs will be able offer their customers the ability to apply for a loan, use decision-making tools, check the status of a loan, request a credit report, and track interest rates, among many other valuable time-saving tools. The banks also stand behind their on-line rates by offering a $300 money-back `Best Price Guarantee' on certain mortgages. "The chance to work with Amicus Holdings is a tremendous opportunity for our private label solutions business in terms of penetrating new banks and offering these financial institutions a large variety of mortgage services," said Donald Henig, Executive Vice President of new sales channels for MortgageSelect.com. "As an Internet banking leader, Amicus Holdings can also strengthen its service offering to its private label partners with MortgageSelect.com's proven track record of compelling products and services." About MortgageSelect.com MortgageSelect.com is the Internet division of American Home Mortgage Corp. Launched in 1999, MortgageSelect.com continues to lead the industry in online technology and service. MortgageSelect.com acquires customers on a variable cost model through private labeling, co-branding partnerships, and over 3,000 affiliates. MortgageSelect.com supports three call centers located on both coasts and is currently ranked as one of the top Internet mortgage lenders by National Mortgage News. About American Home Mortgage American Home Mortgage Holdings (Nasdaq "AHMH") is a leading independent retail originator of residential mortgage loans both online and offline. Its online operation, MortgageSelect.com is a leader in online closed loan volume, and has outperformed its online competitors in terms of profitability. Offline, the Company has grown organically and by acquisition and now has 63 community loan offices across the country. For additional information, please visit the Company's Website at www.mortgageselect.com. About Amicus Holdings Inc. Amicus Holdings Inc., a division of CIBC CIBC Canadian Imperial Bank of Commerce CIBC Centres Interinstitutionnels de Bilan de Compétences CIBC Commonwealth Institute of Biological Control (Trinidad) CIBC Commercial International Brokerage Company , provides electronic 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. for many great brands in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. including President's Choice Financial President’s Choice Financial is a financial institution that offers banking services through a joint venture between Loblaw Companies (a supermarket chain) and CIBC (a major Canadian bank). , Marketplace Bank and Safeway SELECT Bank. Through its network of more than 395 pavilions, contact centers open 24/7 and more than 8,000 ATMs in North America, Amicus Holdings Inc. services more than 900,000 customers and is acquiring more than 30,000 new customers a month. Amicus Holdings Inc. offers a superior customer experience by combining a new standard of friendly, helpful and responsive customer service with better rates and no fees on day-to-day banking. About Safeway SELECT Bank Safeway SELECT Bank is the result of a strategic alliance between Safeway Inc. and Amicus Holdings Inc., a subsidiary of the Canadian Imperial Bank of Commerce, one of the leading operators of electronic banking in North America. Amicus Holdings Inc. provides all banking services, employs Safeway SELECT Bank Customer Associates and holds all deposits, which are insured by the FDIC FDIC See: Federal Deposit Insurance Corporation FDIC See Federal Deposit Insurance Corporation (FDIC). . The bank currently operates 120 in-store bank pavilions inside select Safeway stores in Northern California Northern California, sometimes referred to as NorCal, is the northern portion of the U.S. state of California. The region contains the San Francisco Bay Area, the state capital, Sacramento; as well as the substantial natural beauty of the redwood forests, the northern , Colorado, Nevada, Arizona, Washington and Oregon. About Marketplace Bank Marketplace Bank is the result of a strategic alliance between Winn Dixie Inc. and CIBC National Bank, a subsidiary of the Canadian Imperial Bank of Commerce, one of the leading operators of electronic banking in North America. CIBC National Bank provides all banking services, employs Marketplace Bank Customer Associates and holds all deposits, which are insured by the FDIC. The bank currently operates 125 in-store bank pavilions inside select Winn Dixie stores in Florida. |
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