Printer Friendly

AMERICAN RESIDENTIAL ADDS 3 BRANCHES; NEW BRANCHES PUT COMPANY IN NEW GROWTH REGIONS

 AMERICAN RESIDENTIAL ADDS 3 BRANCHES;
 NEW BRANCHES PUT COMPANY IN NEW GROWTH REGIONS
 LA JOLLA, Calif., June 10 /PRNewswire/ -- American Residential Mortgage Corp., one of the country's top five private lenders, has entered new regional markets with the opening of offices in Emeryville, Calif.; Columbus, Ohio; and Denver. "In addition to putting the company in areas of strong homebuying activity, these sites increase the company's branches to 39, and expand the geographic diversity of its network," said Jim Gilcrest, executive vice president, in making the announcement.
 "The opening of these offices reflects the company's commitment to carefully planned growth," Gilcrest said. "The high demand for consumer loans has created the right opportunity for American Residential to enter new territories. Unlike most of California, the Emeryville area has maintained a good level of lending activity. Home sales in Columbus have remained strong throughout the recession. Denver has turned from one of the country's most depressed regions into an area of robust growth. We believe that this is the right time to invest in these regions and build our market presence."
 Offices in Columbus and Denver also represent key steps in American Residential's overall growth strategy, Gilcrest noted, because they add an important Midwest link to the company's strong East and West Coast operations.
 American Residential, which serves both the wholesale and retail markets, will initially focus on wholesale transactions in Emeryville and Denver. "This lets us set up business quickly," Gilcrest said, "since we can bring our extensive support and expertise to loans already in process from brokers." In Columbus, the company will also serve consumers at the retail level, offering nearly 50 types of loans to meet a range of financing options.
 American Residential Mortgage Corp., headquartered in La Jolla, operates 39 offices nationwide. As of March 31, 1992, the company serviced and subserviced approximately $8.5 billion in loans.
 -0- 6/10/92
 /CONTACT: Kailynn Emmel of American Residential Mortgage, 619-535-4310/ CO: American Residential Mortgage Corp. ST: California IN: FIN SU:


EH-KJ -- SD001 -- 8908 06/10/92 15:11 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jun 10, 1992
Words:341
Previous Article:ASSET INVESTORS CORP. DECLARES SECOND QUARTER DIVIDEND OF 40 CENTS PER SHARE
Next Article:P&G ANNOUNCES EXECUTIVE CHANGES


Related Articles
AMERICAN RESIDENTIAL MORTGAGE CORP. ENDS YEAR WITH RECORD $5.6 BILLION IN LOAD ORIGINATIONS
AMERICAN RESIDENTIAL ADDS MIDWEST OFFICES; COMPANY MOVES TO TAP STRONG HOME-BUYING MARKETS
MAJOR REALIGNMENT FOR NATION'S 8TH-LARGEST EQUIPMENT RENTAL COMPANY
American Bancshares Announces Opening Of New Full-Service Branch In Downtown Palmetto
EMB Corporation Completes Purchase of American Residential Funding, Inc.
Sterling National Bank Expands Long Island Presence.
Residential Property: New post for Nick at Burchell Edwards.
Homing in on a new challenge.
The New York Mortgage Company Expands Retail Network with Ten New Branches; Establishes Presence in Five More States.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters