Amstar Financial Services Launches Exclusive Construction-to-Permanent Mortgage Program.Business Editors/Real Estate Writers JUPITER, Fla.--(BUSINESS WIRE)--Oct. 16, 2003 Amstar Financial Services, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :AMAF AMAF ASEAN Ministers on Agriculture and Forestry AMAF American Medical Association Foundation AMAF Arab Muslim American Federation AMAF And My Amazing Friends (gaming clan) AMAF Automated Message Accounting Frame ) announced Monday the launching of its new limited documentation construction-to-permanent mortgage program. The product makes Amstar one of a handful of lenders offering limited documentation products for new home construction, with loan-to-value levels as high as 90%. In many Amstar markets, construction starts remain at record highs. This new product niche will be available through all the Amstar lending platforms. Recently, the U.S. Department of Commerce in conjunction with HUD Hud (h  d), a pre-Qur'anic prophet of Islam. Hud unsuccessfully exhorted his South Arabian people, the Ad, to worship the One God. , released statistics regarding new residential construction. Through the end of August, housing starts were running 4.8% ahead of the July forecasts, and 10.7% ahead of the same period 2002. This continued strong demand in the face of interest rate fluctuations caused Amstar to develop the new product. Amstar believes this will continue into 2004 and developed this product to create a new revenue stream for the Company, from both retail and wholesale channels. Caution Concerning Forward-Looking Statements: The Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995 provides a safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. from civil litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. for forward-looking statements. This news release contains information regarding a new loan program that is being marketed by the Company. It is uncertain if this will have an effect on our future business results. Our results are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in this news release. Factors that might cause such a difference include the possibility of lower revenues for the balance of the fiscal year, greater than anticipated operating costs, issuance of additional shares, the outcome of other litigation, the decline of availability of mortgages at reasonable rates, and a downturn in general economic conditions. These forward-looking statements speak only as of the date made. We undertake no obligation to update any forward-looking statements to reflect events or circumstances arising after the date on which they are made. To contact Investor Relations Investor relations The process by which the corporation communicates with its investors. , email the Company at info@americassenior.com. The Company's web addresses are http://www.americassenior.com, http://www.synergy-mortgage.com and http://www.jupiter-mortgage.com |
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