Zacks.com Features the Following Top Stocks in the Finance - Mortgage and Real Estate Industry: Countrywide, Fannie Mae, Freddie Mac, American Home Mortgage, and New Century Financial.

Business Editors

CHICAGO--(BUSINESS WIRE)--March 17, 2003

If you're tired of mortgaging your financial future to the whims of the market, take a look at what the finance - mortgage and real estate industry has to offer. Refinance your portfolio with several recommendations from the All Stars. Here are the top recommendations in the finance - mortgage and real estate industry: Countrywide Financial Corporation (NYSE:CFC), Fannie Mae (NYSE:FNM
FNM Free National Movement (Bahamas)
FNM Foot and Mouth ), Freddie Mac (NYSE:FRE), American Home Mortgage Holdings, Inc. (NASDAQ:AHMH), and New Century Financial Corporation (NASDAQ:NCEN). Discover the full story at Zacks.com http://allstartoppicks.zacks.com

What Do The All Stars Recommend:

Countrywide Financial Corporation (NYSE:CFC), through its subsidiaries, provides mortgage banking and diversified financial services in domestic and international markets. The company recently released operational highlights for the month of February, where average daily applications were $2.2 billion, or +10% over the January month and +108% better than last year. Furthermore, loan fundings and purchase fundings advanced by +121% and +37% from last year respectively, while the closing February mortgage loan pipeline advanced by +104%. In the company's most recent quarterly report, CFC posted earnings of $1.94 per diluted share, which was +53% better than last year while marking its seventh straight quarter of record earnings per share.

Fannie Mae (NYSE:FNM) is the largest non-bank financial services company in the world. It operates pursuant to a federal charter and is one of the nation's largest sources of financing for home mortgages. Over the past several quarters, FNM has met or surpassed Wall Street's expectations. Even more impressive is that earnings estimates have been rising as well. Operating earnings per share in 2002 advanced by +21.3% to $6.31, while operating earnings for the fourth quarter of that year increased by +18.6% to $1.66.

Freddie Mac (NYSE:FRE) is a stockholder-owned corporation that supports homeownership and rental housing. Freddie Mac purchases single-family and multifamily residential mortgages and mortgage-related securities, which it finances primarily by issuing mortgage passthrough securities and debt instruments in the capital markets. In 2002, FRE's total mortgage portfolio increased by $173 billion, marking a growth of +15%, reflecting record new business purchases. It retained portfolio increased by $76 billion, also +15%. On a GAAP basis in the fourth quarter, FRE watched diluted earnings rise by +27% to $2.38 per share from $1.87 last year.

American Home Mortgage Holdings, Inc. (NASDAQ:AHMH), together with its subsidiaries, American Home Mortgage Corp. and Marina Mortgage Company, Inc., is an independent retail mortgage banking company primarily engaged in the business of originating and selling residential mortgage loans. In early February, AHMH signed a definitive agreement to acquire the retail mortgage lending branches of Principal Residential Mortgage, which includes 78 mortgage branches locate in 25 states. The deal creates the country's 14th largest retail mortgage lending enterprise, and should close in the first quarter of 2003. The deal gives AHMH 209 total American Home retail branches and, according to Chairman and Chief Executive Michael Strauss, should increase its loan production capability by about +25% and immediately increase earnings.

New Century Financial Corporation (NASDAQ:NCEN) is a specialty finance company that, through its subsidiaries, originates, purchases, sells and services sub-prime mortgage loans secured primarily by first mortgages on single-family residences. For the months of January and February, NCEN saw loan production volume jump by +73% to $2.9 billion. Even though February is the shortest month of the year, the company experienced growth of +72% while January's growth was +74%. The company reaffirmed its 2003 production estimate of $18 billion.

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