American Residential/American Mortgage Network Move into New Corporate Headquarters in Sorrento Mesa.Business Editors/Real Estate Writers SAN DIEGO--(BUSINESS WIRE)--March 5, 2002 American Residential Investment Trust, Inc. (NYSE NYSE See: New York Stock Exchange :INV INV abbr. in vitro fertilization ) and its mortgage banking subsidiary, American Mortgage Network (AmNet), completed their move into new corporate headquarters in Sorrento Mesa on February 25th. The Company announced in December 2001 that it had leased approximately 24,000 square feet of space at 10421 Wateridge Circle, Suite 250, San Diego, California “San Diego” redirects here. For other uses, see San Diego (disambiguation). San Diego is a coastal Southern California city located in the southwestern corner of the continental United States. As of 2006, the city has a population of 1,256,951. 92121. The main telephone number is 858-909-1200. John M. Robbins, Jr., Chief Executive Officer of American Residential Investment Trust and American Mortgage Network, said, "We are proud to be part of the San Diego San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. business community and firmly believe that our city offers an excellent work environment for all types of businesses and employees. Our roots are firmly established here and we are committed to the area's success. We continue to build our origination Origination The process through which a mortgage lender creates a mortgage secured by some amount of the mortgagor's real property. Notes: Also known as loan origination, everyone must go through the origination process when securing a mortgage for a piece of real subsidiary and hire experienced mortgage banking professionals to support the infrastructure for our regional centers." American Mortgage Network originates mortgages through the wholesale channel and exclusively serves the mortgage broker community nationwide. Regional sales 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. centers are located in Roseville (Sacramento), California; San Diego, California; Portland, Oregon; New Haven New Haven, city (1990 pop. 130,474), New Haven co., S Conn., a port of entry where the Quinnipiac and other small rivers enter Long Island Sound; inc. 1784. Firearms and ammunition, clocks and watches, tools, rubber and paper products, and textiles are among the many , Connecticut; and Atlanta, Georgia. Several additional regional centers are scheduled to open during 2002. American Mortgage Network funded $43.3 million in mortgages during the fourth quarter of 2001 and $69.8 million in January 2002. About American Residential Investment Trust American Residential Investment Trust, Inc. is a real estate investment trust (REIT REIT See: Real Estate Investment Trust REIT See real estate investment trust (REIT). ) that has traditionally invested in subprime residential mortgage assets. For more information on American Residential, please visit the Company's web site at www.amerreit.com. About American Mortgage Network American Mortgage Network (AmNet) is a taxable REIT subsidiary of American Residential Investment Trust, Inc. AmNet originates loans for the national mortgage broker community through its network of regional centers. Certain matters discussed in this press release may constitute 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. within the meaning of federal securities laws. Forward-looking statements include statements regarding the Company's plans to open regional offices and projected personnel additions. Actual results and the timing of certain events could differ materially from those projected in or contemplated by these forward-looking statements due to a number of factors, including but not limited to: lack of Company experience in opening regional offices and generating mortgage loans; general economic conditions; the ability to attract and retain experienced mortgage banking personnel; the availability of financing for the origination of mortgage assets; and other risk factors outlined in American Residential Investment Trust's SEC reports. |
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