GreenLight Press Release 01/2006

WELLS FARGO HOME MORTGAGE, GREENLIGHT FINANCIAL SERVICES AND FREDDIE MAC LEAD EFFORT TO STREAMLINE eMORTGAGE TRANSACTIONS

FiServ, MERS, VMP Mortgage Solutions, Veri-docs.com, Join Effort to Jumpstart Era of Paperless Mortgages


DES MOINES, IA − Jan. XX, 2006, − Wells Fargo Home Mortgage announced today that it has successfully sold an eMortgage to Freddie Mac. The secondary market transaction was completed with the assistance of a team of technology companies that will provide digitally encrypted electronic documents, settlement services, closing and eDocument custody services. This is the first of several eMortgages Wells Fargo Home Mortgage will process during the next several months with Greenlight Financial Services. Freddie Mac and Wells Fargo Home Mortgage officials said the transaction using the Mortgage Industry Standards Maintenance Organization (MISMO) XML data standards holds the promise to reduce total mortgage origination and processing time."We're extremely pleased with the progress we're making to create a better and faster mortgage lending process for the home buyer," said Eric Stoddard, an executive vice-president at Wells Fargo Funding, the correspondent division of Wells Fargo Home Mortgage. "This is the next stage in the mortgage closing process, and wouldn't be possible without the collaboration of our technology and financial service associates."Freddie Mac, one of the nation's largest investors in residential mortgages, has been a long-time advocate for streamlining the home-lending process through the widespread adoption of a paperless electronic mortgage technology. "Today's announcement shows the potential time and financial savings that eMortgages can provide to America's borrowers and lenders," said Joseph Smialowski, executive vice-president of Freddie Mac Operations and Technology Division. "It underscores the reality that eMortgages succeed when a team of providers works together so our lenders can get the most from each new innovation, no matter who developed it." The latest milestone in the "paperless" revolution began on Dec. 14, 2005, when the Irvine, Calif.,-based Greenlight Financial Services, one of the leading direct-to-consumer mortgage lenders, electronically originated a single family mortgage using Freddie Mac's Internet-based automated underwriting service, Loan Prospector.com. Veri-docs.com, the settlement agent, then used Fiserv's eLending closing room to electronically close the eMortgage using electronic documents developed by VMP Mortgage Solutions, Inc. Wells Fargo Funding purchased the eMortgage from Greenlight Financial Services and, in turn, sold it to Freddie Mac after the loan was certified by Wells Fargo Document Custody. "The ability to expedite transactions electronically is the perfect extension to our online business, which draws customers seeking a streamlined lending experience," said Stacey Sommer, Senior Vice President of Greenlight Financial Services. "Our customers are very enthusiastic about the speed and ease that this technology brings to the lending process."Fiserv is the e-vault vendor, and provided the connection to MERS® eRegistry, which identifies the owner and custodian for registered eNotes. Wells Fargo Document Custody is the custodian of record in the registry. This is the first electronic transaction where a third party custodian has been involved in an eMortgage transaction on the MERS® eRegistry.[A great quote from MERS goes here.]Both Wells Fargo Home Mortgage and Freddie Mac are pleased with the results of the process test."There's still a great deal of fine-tuning to be done," said Stoddard, "but we're clearly on the path to developing the environment to create and sell e-notes throughout the industry.""We were able to work through many critical technology and process issues, which has accelerated our publication of our eMortgage purchasing standards - which we are publishing WHEN," said Smialowski. Freddie Mac received the first eMortgage on Oct. 2, 2000, the day after the federal E-SIGN law took effect and ushered in the possibility of using electronic documents for consumer financial transactions. Since then, Freddie Mac, Wells Fargo Home Mortgage and the mortgage industry have worked to develop uniform standards through MISMO to guide the development and implementation of eMortgage technology.About Freddie MacFreddie Mac is a stockholder-owned corporation established by Congress in 1970 to support homeownership and rental housing. Freddie Mac purchases single-family and multifamily residential mortgages and mortgage-related securities, which it finances primarily by issuing mortgage pass-through securities and debt instruments in the capital markets. Over the years, Freddie Mac has made homeownership possible for one in six homebuyers and more than two million renters across America. For additional information about Freddie Mac, see the company's Web site: www.freddiemac.com About Greenlight Financial ServicesGreenlight Financial Services (www.greenlightloans.com; 866-66-FASTER) has become one of the fastest growing direct-to-consumer mortgage lenders in the industry; providing a combination of advanced technology, competitive interest rates, and outstanding customer service. Greenlight originates first and second mortgages, as well as equity lines of credit. Founded in 2001, Greenlight Financial Services is headquartered in Irvine, California.
About Wells Fargo Home MortgageWells Fargo Home Mortgage is the nation's No. 1 retail mortgage lender* and one of the country's leading servicers of home mortgages. Wells Fargo Funding is the correspondent business line of Wells Fargo Home Mortgage. It is the nation's second largest correspondent lender, with a client base of over 1,000 banks, thrifts and mortgage lenders in all 50 states. Wells Fargo Home Mortgage, which is celebrating its centennial in 2006, operates the country's largest mortgage network from nearly 2,400 mortgage and Wells Fargo banking stores and the Internet. Based in Des Moines, Iowa, it services loans for more than 5 million customers nationwide.Wells Fargo Document Custody is the nation's No. 1 document custodian based on number of files held. It has been in business for more than 30 years. Based in Minneapolis, it holds loans for more than 200 customers nationwide.

Wachovia Press Release 2/22/2006

February 22, 2006 INCREASED SOCIAL SECURITY AWARENESS DRIVING MANY CONSUMERS TO PLAN AND SAVE MORE FOR RETIREMENT Wachovia's Retirement Fitness Survey Reveals Link Between Social Security Awareness and Retirement Preparation
CHARLOTTE, N.C. – While many consumers continue to express a great deal of uncertainty and worry about how well they are preparing for retirement, concern over Social Security has led to additional planning, saving and investing for retirement, according to a new Wachovia survey.
Wachovia's annual Retirement Fitness Survey revealed that more than 80% of consumers said Social Security will be important to their own retirement well-being, yet nearly half are not confident that it will be available to them when they retire.
As a result, 51% of consumers say they are making changes to how they prepare for retirement. Those changes include increasing their retirement savings in 401(k) plans and IRAs, planning more precisely, investing in alternate investments like real estate and working with a professional advisor.
“People are realizing more and more that they have to take their retirement well-being into their own hands,” said Bob Reid, president of Wachovia’s Retirement and Investment Products Group, adding that 18% of consumers have lowered their lifestyle expectations in retirement. “The headlines around Social Security issues and pension cutbacks have caused more individuals to look in the mirror and consider their own retirement situations.”
In recent years, the future of Social Security has been a topic of national debate, and several companies have announced plans to freeze their pension plans. In his State of the Union address, President Bush called on Congress to create a commission to examine the full impact of baby boom retirements on Social Security.
Wachovia's annual Retirement Fitness Survey examined consumers' emotions along with their actions, or what they are doing to prepare for retirement. The national survey of 2,100 consumers follows Wachovia's inaugural Retirement Fitness Survey released in 2005.
While more consumers are responding to issues over Social Security, the number of those who are concerned about retirement is similar to the initial survey. More than half of consumers expressed uncertainty (58%), worry (55%), or fear of making a mistake (50%) when preparing for retirement. Also, 43% reported feeling overwhelmed, saying there are too many choices of where and how to invest, the market requires constant monitoring or they can’t afford to save. Women, on average, were more likely to express one of these emotions.
“People are still very concerned about where they are in the planning cycle, especially considering the fact that they must plan and save for longer years in retirement,” Reid said. “Increased longevity, combined with concerns over retirement savings, have created a new retirement reality for many people.”
Consumers were asked in the survey to provide tips to help others get in better retirement shape. Their top responses included talking to an advisor (16% of respondents); setting up automatic deductions or direct deposits into accounts (12%); depositing small amounts of money every month (12%); contributing to an IRA 0r 401(k) (11%); and budgeting and tracking expenses to find money to save (8%).
Four retirement fitness categories were developed based on results from the survey. A short Retirement Fitness Quiz is available at http://www.wachovia.com/retirement to help individuals determine their category. The fitness categories include:
At the starting line (31%). Consumers in this group are concerned about saving for retirement and may not be doing enough to prepare. More than the other groups, they feel uncertainty, worry and fear.
Looking fit (9%). Consumers in this group are concerned about saving for retirement but they appear to be on the right track. Their main concern is feeling overwhelmed with too many choices of where and how to invest.
Fitness evaluation may be useful (29% of respondents). Consumers in this group are not as prepared for retirement as some of the other groups, but they also are not as concerned.
Peak Performer (31%). Consumers in this group are not as concerned about their retirement savings and appear to be on the right track. More than the other groups, they feel confident, hopeful and involved.
Wachovia's Retirement Fitness Survey was conducted by Evanston, Ill.-based Richard Day Research, Inc. (RDR). The results are based on online interviews with 2,100 consumers nationwide, ages 35-64 with household income or household investable assets greater than $75,000.
The consumer survey is part of Charlotte-based Wachovia Corporation’s ongoing, companywide focus on the retirement planning market for individuals and institutions. Wachovia offers consumers a complimentary retirement consultation through its more than 3,100 Financial Centers. Consumers also can speak to trained and licensed retirement specialists by calling Wachovia's Retirement Resource Center at 888-840-2517. In addition, Wachovia Securities offers detailed planning tools through its sophisticated EnvisionSMinvestment-planning process1.
The Retirement and Investment Products Group, a division of Wachovia's Capital Management Group, consists of retirement products and services for retail and institutional customers. Wachovia's Capital Management Group includes the Retirement and Investment Products Group, Wachovia Securities retail brokerage business, Evergreen Investments asset management business and the Securities Lending business.
Wachovia Corporation (NYSE:WB) is one of the largest providers of financial services to retail, brokerage and corporate customers, with banking operations from Connecticut to Florida and west to Texas, and retail brokerage operations nationwide. Wachovia had assets of $520.8 billion, market capitalization of $82.3 billion and stockholders' equity of $47.6 billion at December 31, 2005. Its four core businesses, the General Bank, Capital Management, Wealth Management, and the Corporate and Investment Bank, serve more than 13 million household and business relationships primarily through 3,131 offices in 15 states and Washington D.C. Its full-service retail brokerage firm, Wachovia Securities, LLC, also serves clients through 719 offices in 49 states, Washington D.C., and six Latin American countries. The Corporate and Investment Bank serves clients in selected industries nationwide. Global services are offered through 40 offices around the world. Online banking and brokerage products and services also are available through wachovia.com.
1Unlike financial planning, Envision does not include a detailed analysis of insurance, real estate investment or savings strategies. It also does not cover estate and tax planning
Wachovia Securities is the trade name under which Wachovia Corporation provides brokerage services through two registered broker-dealers: Wachovia Securities, LLC, member NYSE/SIPC, and Wachovia Securities Financial Network, LLC, member NASD/SIPC. Each broker-dealer is a separate non-bank affiliate of Wachovia Corporation.

Quicken Loans Press Release 2/10/2006

Home prices have gone up, mortgage rates have risen, and the rate of home appreciation has slowed. Houses are sitting on the market longer and investors are shying away because it's harder for them to sell their properties, let alone make a profit these days.
Even home builders are becoming more competitive to get homes sold. According to the National Association of Home Builders, 40 percent of builders were offering non-price incentives in December--anything from free home upgrades to free landscaping to free flat-screen TVs.
It has become a buyer's market. So what's a seller to do?
Change Your Expectations The bubble hasn't burst, but the market has certainly slowed. Expect that you won't be able to sell your home right away. You also might not be able to make as much of a profit off the sale as you would have six months ago. So be prepared to drop your asking price more than you expected or price your home slightly below what comparable homes in your area have sold for recently.
Consider Paying the Buyer's Discount PointsInstead of lowering your asking price, you might also think about paying the buyer's discount points. If you're flexible enough to help the buyer with his interest rate and tax bill, that could go a long way to getting your home sold faster.
One discount point will lower the buyer's mortgage rate one-quarter percent. The buyer gets a lower monthly payment while being able to deduct the discount points from their income taxes; the selling agent and the buying agent get bigger commissions; you get your asking price and everybody wins.
Dis-ARM YourselfIf, after much consideration, you decide not to sell your home, consider refinancing. If you have an adjustable rate mortgage that's going to adjust soon, it will probably adjust to a rate that's higher than you could get on a fixed-rate mortgage. So why not "dis-ARM" yourself and refinance to a fixed rate? You'll be saving yourself from the headache of higher monthly mortgage payments.
As a seller, it's possible you may not make as large a profit off the sale of your home as you would have a year ago. And your home might not sell as fast as you'd like. But you can get around dropping your asking price in favor of paying the buyer's discount points, a tactic that should make all parties happy.

Washington Mutual Press Release 2/15/2006

Washington Mutual Consolidates Home Loan Support Offices
SEATTLE--(BUSINESS WIRE)--Feb. 15, 2006--Washington Mutual Inc. (NYSE:WM), a leading provider of financial services to consumers and small businesses, today announced that it would consolidate the network of processing offices that provide administrative support to its home loan businesses from 26 to 16 offices.
The action is in keeping with strategies the company outlined at its annual investor conference last November to revamp its back office operations from one shaped by acquisitions to one that reflects current business needs while increasing efficiency companywide. Those strategies include consolidating real estate and moving back office functions to lower cost domestic and offshore locations.
In addition, this action reflects the company's ongoing focus on adjusting the cost structure of its home loans business and effectively managing capacity to better match current and anticipated mortgage market conditions.
The consolidation of these offices will result in the elimination of approximately 2,500 jobs. Work volumes from the impacted locations will be shifted to 16 remaining Washington Mutual home loan support offices, including Irvine, California; suburban Chicago; and Jacksonville, Florida. The job reductions announced today will be partially offset by new hiring at these locations.
While Washington Mutual continues to drive efficiency through consolidation of support service locations and other initiatives, it will also execute strategies designed to fuel profitable growth, including increasing the number of locations dedicated to sales and customer service. Last week, the company confirmed plans to open 150 to 200 new retail banking stores nationally in 2006.
With a history dating back to 1889, Washington Mutual is a leading provider of financial services to consumers and small businesses. At December 31, 2005, Washington Mutual and its subsidiaries had assets of $343.12 billion. Washington Mutual currently operates more than 2,600 retail banking, mortgage lending, commercial banking, and financial services offices throughout the nation. Washington Mutual's press releases are available at www.wamunewsroom.com.

Abn Amro Press Release 1/9/2006

Amsterdam, 09 January 2006
ABN AMRO to receive 2006 Gold Medal for International Corporate Achievement in Sustainable Development
The World Environment Center (WEC) announces today that ABN AMRO will receive the Gold Medal Award for International Corporate Achievement in Sustainable Development in recognition of its leadership in sustainability. The WEC Gold Medal Award will be presented to ABN AMRO on Friday 12 May 2006 in Washington, D.C. (United States). An independent jury elected to honour ABN AMRO with its 22nd annual Gold Medal award because of the Group's leading role in the creation and implementation of the Equator Principles. The Equator Principles are a voluntary set of guidelines for determining, assessing and managing social and environmental risk in project financing. The principles are based on the policies and standards set by the International Finance Corporation (IFC). ABN AMRO spearheaded the development and implementation of the global program in the private sector. As a result, more than thirty international banks representing 80% of project financing in the world have agreed to adopt the Equator Principles. "The award is a confirmation of ABN AMRO's efforts and achievements in sustainable development and reaffirms our commitment to continuing to promote sustainability actively across our industry and in the wider business world," said Rijkman Groenink, Chairman of the Managing Board of ABN AMRO. The WEC believes that the broad adoption of the Equator Principles will have a global impact on sustainable development. "The Equator Principles define precisely how financial institutions should contribute to sustainable development; through assessing projects on social and environmental criteria in order to lend responsibly" said Gold Medal Jury Chairman Dr. Joel Abrams, Professor Emeritus of the University of Pittsburgh. About the Gold Medal for International Corporate Achievement in Sustainable DevelopmentThe World Environment Center 'Gold Medal for International Corporate Achievement in Sustainable Development' was established in 1985 to recognize pre-eminent industry leadership initiatives and contributions to worldwide environmental quality and sustainable development. The WEC Gold Medal is awarded annually by an independent Jury comprised of international experts from academia, government, industry and non-governmental organizations.About the World Environment CenterThe World Environment Center (WEC) is an independent, not-for-profit, non-advocacy organization. Working with the private sector, international organizations, non-governmental organizations and academia, the WEC promotes sustainable development by encouraging leadership, improving health and safety practices worldwide, and fostering the efficient use of natural resources to protect the global environment. The WEC supports its mission through three central programs: the International Environment Forum (IEF); the WEC Gold Medal Award; and Capacity Building for the Environment programs.

Wells Fargo Press Release 2/7/2006

Wells Fargo Receives Highest Possible Rating for Community Reinvestment Wells Fargo Bank, N.A. receives “Outstanding” rating
San Francisco — February 7, 2006
Wells Fargo & Company (NYSE: WFC) said today that Wells Fargo Bank, N.A. received an “Outstanding” rating – the highest regulatory rating possible – in its most recent Community Reinvestment Act (CRA) examination by the Office of the Comptroller of the Currency (OCC). Wells Fargo Bank, N.A., which serves more than 10 million households in 23 states, met and exceeded community needs in areas such as affordable housing, financial education and small business lending.
The Community Reinvestment Act of 1977 requires banks to meet the credit needs of all the communities where they do business, especially low-to-moderate income communities and families.
“Community reinvestment is integral to our business because it helps ensure the success of every neighborhood we serve,” said John Stumpf, President and Chief Operating Officer. “For Wells Fargo it’s important not only that we meet the guidelines set forth by the OCC, but also that we exceed them. We believe it’s the right thing to do for our communities – it’s just good business!”
Wells Fargo received an overall “Outstanding” rating, and also was rated “Outstanding” in each of the exam’s three Test categories:
Lending (mortgages, small business, and community development for affordable housing and economic development);
Services (retail banking stores, alternative delivery channels, and financial outreach), and;
Investments (funding capital and grants to community organizations).
The examination period included CRA performance from Oct. 1, 2001 through Sept. 30, 2004.
In the Lending Test category, which represents half of the rating, the OCC said Wells Fargo “dominated the markets for mortgage and small loans to businesses in most of its assessment areas.” It also said Wells Fargo’s distribution of small loans to businesses among geographies of different income levels, including low- and moderate-income communities, was “Excellent” and that the Bank’s distribution of small business loans among businesses of different revenue size was also “Excellent.”
The OCC rated Wells Fargo’s mortgage lending among various geographies and borrowers of different income levels as “Good.” It said Wells Fargo’s use of flexible mortgage products, including down payment assistance programs, strengthened the Bank’s efforts to meet the credit needs in its markets. It specifically noted:
National Home Ownership ProgramSM: Qualified homebuyers are not required to make a down payment or have traditional credit history. Moreover, the loan allows homebuyers to use some secondary income, including cash-based income, for qualifying purposes.
Community Development Mortgage Program: Offers special loan advantages to help make homeownership a reality for low- to moderate-income community members. The program provides financing to homebuyers who may have higher debt to income ratios, and/or the need for down payment requirements. There is no mortgage insurance required.
The OCC said Wells Fargo’s CRA performance was due in part to the volume and nature of its community development lending for low-to-moderate income individuals, affordable housing, rehabilitation financing and economic development. During the exam period, Wells Fargo financing enabled developers to create or retain 22,000 affordable living spaces in a number of markets.
In the Investment Test category, the OCC rated Wells Fargo’s investments and charitable contributions totaling over $725 million as “Outstanding,” reflecting “an excellent level of responsiveness to the needs of its markets, especially affordable housing.” It said “in many markets, the bank has been a leader in developing and participating in complex investments” involving a number of businesses and functions across the Company, including Wells Fargo Community Development Corporation, Wells Fargo Foundation and its Wells Fargo Housing Foundation.
In the Service Test category, the OCC said Wells Fargo demonstrates “excellent responsiveness” to the banking needs of communities and individuals of different income levels through retail delivery systems and community development services such as Wells Fargo’s bi-lingual online financial literacy program, Hands on Banking®. The OCC specifically noted Wells Fargo’s range of services to the traditionally un-banked Hispanic population including the Company’s leadership in accepting the Mexican Matricula Consular identification card for opening new banking accounts and its low-fee InterCuenta Express wire transfer service to Mexico.
Wells Fargo & Company is a diversified financial services company with $482 billion in assets, providing banking, insurance, investments, mortgage and consumer finance to more than 23 million customers from more than 6,200 stores and the internet (wellsfargo.com) across North America and elsewhere internationally. Wells Fargo Bank, N.A. is the only bank in the United States to receive the highest possible credit rating, “Aaa,” from Moody’s Investors Service.

Ameriquest Press Release 1/23/2006

ORANGE, Calif., January 23, 2006 – ACC Capital Holdings Corp (“ACCCH”), parent of Ameriquest Mortgage Co., announced today an agreement with a committee of state Attorneys General and financial regulators representing a final resolution to an inquiry about Ameriquest’s lending practices. Under the agreement, Ameriquest will implement a series of measures to enhance the company’s business practices while continuing to help consumers meet their mortgage financing needs.
The company acknowledged no wrongdoing and there are no restrictions or limitations on the company’s licenses.
As part of the agreement, ACCCH subsidiaries Ameriquest Mortgage Company, AMC Mortgage Services and Town & Country Credit Corporation (referred to collectively as “Ameriquest”), will strengthen their standards, policies and practices, taking a number of steps to better inform consumers and to eliminate potential conflicts of interest in the loan origination and funding processes.
“Doing the right thing for the people we serve has always been one of our core values. We regret those occasions when our associates have not met this ideal to our customers’ expectations,” said Aseem Mital, chief executive officer of ACCCH. “This agreement is good for consumers and fair to the company. It provides a framework for new lending policies that improve and enhance our ability to serve our customers and are a model for the industry.”
Under the agreement, ACCCH has allocated $295 million over the next year to compensate borrowers. The funds will be designated for borrowers who obtained loans from Ameriquest between January 1, 1999 and December 31, 2005. In addition, the company will provide $30 million to reimburse the states for legal fees and other costs related to the states’ inquiry. Distribution of the funds will be handled by an independent settlement administrator.
In addition to its financial commitment, the specific steps Ameriquest has agreed to take include:
Ensuring that borrowers receive a simple one-page form clearly describing all loan terms at least three days before closing.
Centralizing the appraisal process and instituting random selection of appraisers.
Requiring sales associates to follow approved scripts to describe loan terms and conditions and ensure that competitive claims regarding interest rates are accurate.
Implementing measures requiring customers to sign a statement at closing certifying that the information they provided to Ameriquest regarding their stated income is true and correct.
Ensuring that Ameriquest will only refinance a non-prime loan if there is a benefit to the borrower.
Using third-party closing agents to help prevent conflicts of interest.
Ameriquest also implemented a series of policies and programs as part of its best practices efforts prior to the agreement. This agreement reaffirms those enhancements, including:
A mystery shopper program, which the company implemented in 2005, that independently verifies that branch associates are adhering to company policies and procedures.
A “Same Rate” or risk-based pricing policy that the company established in 2003, which prices loans by a precise formula-driven model that uses objective measures of an individual’s credit worthiness.
A quality-based compensation system that the company implemented in 2005, which promotes the fair treatment of customers by including customer satisfaction and loan quality measures in the employee compensation equation.
A whistleblower program that the company launched in 2004, which encourages associates to report inappropriate conduct.
Spanish language loan documents and "Spanish certified" associates available in designated branches to assist Spanish-speaking consumers, continuing a program which has been in place since 2004. The company will now also provide loan documents in any other language in which it advertises in the future.
In addition to the company’s internal monitoring, the agreement calls for the creation by the states of a compliance committee, which will oversee the agreement. An outside firm will also be hired to monitor compliance with the agreement over the next five years.
“Ameriquest worked cooperatively with the states to develop an agreement and ongoing policies that will serve as a model for the industry,” said Florida Attorney General Charlie Crist. “We applaud their willingness to engage with us constructively on these issues and we urge others in the industry to adopt these improved practices.”
“We’ve always had zero tolerance for inappropriate practices,” Mital said. “Where we’ve found mistakes, we’ve worked hard to fix them. We’re now putting in place even more stringent standards and institutional safeguards to ensure that our practices meet or exceed our customers’ expectations. At the same time, Ameriquest remains on a solid financial footing and we’re well positioned to move forward with our plans for disciplined, orderly growth. In fact, we believe these customer friendly measures will help us earn the trust of even more consumers and allow us to compete even more effectively for their business.”
“The commitment of Ameriquest’s management team to get to the root of our concerns was clear from day one,” said New Mexico Attorney General Patricia Madrid. “This agreement is the result of a collaboration that will benefit consumers by increasing and improving the information borrowers receive about their loans and strengthening the lending process.”
“Ameriquest is proud of the role it has played in bringing down the cost of home loans and making credit available to millions of Americans,” said Adam Bass, senior executive vice president and vice chairman. “We will continue to help improve the quality of peoples’ lives by being a national leader in providing home financing options that meet their needs.”