First Americans Mortgage Corp. Announces Strategic Alliance With Investment Banking Firm, George K. Baum & Company.LENEXA, Kan.--(BUSINESS WIRE)--May 20, 1999-- Dustan R. Shepherd, President of First Americans Mortgage Corporation (FAMC FAMC Fitzsimons Army Medical Center FAMC Florida Agricultural and Mechanical College (now Florida Agricultural and Mechanical University) FAMC First American Monetary Consultants, Inc. ), a subsidiary of AmeriResource Technologies, Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:ARET A`ret´ v. t. 1. To reckon; to ascribe; to impute. ) and John D. Urbina, Senior Vice President and Manager Public Finance of George K. Baum & Company announced today that the two companies will join forces to deliver residential loan programs to Native 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. buyers and tribal governments through the use of mortgage revenue bonds and other public financing strategies. FAMC and the Kansas City Kansas City, two adjacent cities of the same name, one (1990 pop. 149,767), seat of Wyandotte co., NE Kansas (inc. 1859), the other (1990 pop. 435,146), Clay, Jackson, and Platte counties, NW Mo. (inc. 1850). , Missouri-based investment banking firm plan to combine their expertise in an innovative collaboration to develop new means to finance housing in Indian Country Indian country or Indian Country n. 1. Indian Territory. 2. Federal reservation lands under Native American tribal jurisdiction. . "The use of mortgage revenue bonds to finance housing on reservations is virtually nonexistent non·ex·is·tence n. 1. The condition of not existing. 2. Something that does not exist. non today," said Shepherd. "This alliance will allow FAMC to focus on product development for home buyers that would not otherwise qualify for a mortgage under the company's PMI/Freddie Mac loan program. This partnership also allows FAMC to enter other areas of housing finance such as single & multifamily rental, equity financing Equity Financing The act of raising money for company activities by selling common or preferred stock to individual or institutional investors. In return for the money paid, shareholders receive ownership interests in the corporation. for tax credit projects and construction period & infrastructure financing." George K. Baum & Company, founded in 1928, provides a full range of investment banking services and products, to investors, corporations and municipalities. With offices located nationwide, George K. Baum & Company has consistently ranked among the top ten underwriters of housing bonds. For the year ending December, 1998, the firm was nationally ranked third for the number of housing issues financed. Dollar volume for housing issues for the year ending December, 1998 was approximately $1.0 billion. Mr. Urbina commented: "We are pleased to form this association with FAMC. Our common goal is to provide affordable housing and economic development products for Native Americans throughout the Nation. This partnership will expand our ability to deliver specialized financial services to satisfy the diverse needs of Indian Country." The release may contain forward-looking statements that involve risk and uncertainties, including without limitations, continued acceptance of the Company's products and services, increased levels of competition, new products and technological changes. The Company's dependency on financing third party suppliers and intellectual property rights, and other risks detailed from time-to-time in the company's federal filings, annual reports, offering memorandums or prospectus. |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion