Delta Financial Corporation Announces New Member of Board of Directors; Margaret Williams Joins Board.Business Editors WOODBURY, N.Y.--(BUSINESS WIRE)--April 11, 2000 Delta Financial Corporation (NYSE NYSE See: New York Stock Exchange : DFC DFC - A dataflow language. ["Data Flow Language DFC: Design and Implementation", S. Toshio et al, Systems and Computers in Japan, 20(6):1- 10 (Jun 1989)]. ) announced today that Margaret Williams, a communications consultant, has joined the Company's Board of Directors. Since June of 1997, Williams has been providing consulting services to a number of clients, including the Scholastic Publishing Company, the Children's Defense Fund The Children's Defense Fund (CDF) is a national organization that is committed to the social Welfare of children. Founded in 1973, the nonprofit group uses its annual $9 million budget to lobby legislators and to speak out publicly on a broad array of issues on the law, the family, and , where she was Director of Communications Director of Communications is a position in the private and public sectors. The Director of Communications is responsible for managing and directing an organization's internal and external communications. from 1985 to 1990, the Central European University CEU was established in 1991 with campuses in Prague, Czech Republic, and Budapest, Hungary, after an idea of several Central European intellectuals received financial support from George Soros. , Arts France USA and the National Black Women's Health Project. Hugh Miller, President and Chief Executive Officer, stated, "We are delighted to have Maggie Williams joining our Board of Directors. She brings an important and much needed perspective to our Board. We believe that she will help us stay true to our commitment to become not only a leader in this industry, but a leader in establishing clear guidelines for lending practices which help better protect consumers." Williams is the former Assistant to the President of the United States The head of the Executive Branch, one of the three branches of the federal government. The U.S. Constitution sets relatively strict requirements about who may serve as president and for how long. and Chief of Staff to First Lady, Hillary Rodham Rodham is an English surname which may refer to a number of persons or places. People Family of Hillary Rodham Clinton
Founded in 1982, Delta Financial Corporation is a Woodbury, NY-based specialty consumer finance company engaged in originating, acquiring, selling and servicing non-conforming home equity loans. Delta's loans are primarily secured by first mortgages on one- to four-family residential properties. The Company originates home equity loans primarily in 27 states. Loans are originated through a network of approximately 1,500 brokers and the Company's Fidelity Mortgage retail offices. Loans are also purchased through a network of approximately 120 correspondents. Since 1991, Delta Financial has sold approximately $6.0 billion of its mortgages through 25 AAA AAA: see American Automobile Association. (Triple A) A common single-cell battery used in a myriad of electronic devices of all variety. Like its double A (AA) cousin, it provides 1.5 volts of DC power. When used in series, the voltage is multiplied. rated securitizations. As of December 31, 1999, the Company's servicing portfolio was approximately $3.6 billion. "Safe Harbor" Statement under 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: Certain statements contained in this press release, which are not historical fact, may be deemed to be "forward-looking" statements under federal securities laws that involve risk and uncertainties. There are many important factors that could cause Delta Financial Corporation and its subsidiaries' actual results to differ materially from those indicated in the forward-looking statements. Such factors include, but are not limited to availability of funding, changes in factors influencing the loan securitization market, regulatory changes (legislative or otherwise) affecting mortgage lending activities and the real estate market, competition, loan losses, loan prepayment rates, delinquency and default rates, costs of 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. , general economic conditions, including interest rate risk, future residential real estate values demand for Delta Financial Corporation and its subsidiaries' services, and other risks identified in Delta Financial Corporation's Securities and Exchange Commission filings. |
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