More Good News for the Mortgage Industry!
Looking for a pure play in the Mortgage Industry? PSMH. The Fannie Mae, Freddie Mac news is incredibly positive for the mortgage market.
PrimeSource Mortgage generates revenues by originating mortgage loans that are funded by more than 75 national lenders from whom they are able to obtain the most competitive rates available.
The good news for the mortgage industry is that shares of Fannie Mae and Freddie Mac soared after the regulator for the two mortgage finance companies that said it will provide the companies with more flexibility to manage their investment portfolios.
Fannie and Freddie were two of the biggest gainers on the S&P 500 index. Fannie Mae’s shares were up 3 percent to $64.45 and Freddie Mac’s stock gained 2.5 percent to $61.01.
This is occurring while PSMH looks for growth: The branch operation is considered Business Model A, and has growth plans to exceed 35 branch locations by the end of 2007, a 40% increase.
PrimeSource Mortgage is everywhere! They are licensed in twenty-four states: Alaska, Arizona, Arkansas, California, Colorado, Florida, Georgia, Idaho, Indiana, Iowa, Kansas, Louisiana, Minnesota, Michigan, Missouri, Nebraska, Nevada, New Mexico, North Dakota, Oklahoma, South Dakota, Tennessee, Texas, and Wyoming.
Ron Hanna, Chairman, Executive VP, Dir.
PSM Holdings, Inc.
1112 North Main Street
Roswell, NM 88201
Phone: (505) 622-5113
Email: psmortg@aol.com
Website: http://www.psmholdings.com
Investor Contact
Ron Hanna
(505) 257-2339
Source: PSMH and WSJ
About PSMH: PSM Holdings, Inc., through its wholly owned subsidiary, PrimeSource Mortgage, Inc., offers mortgage brokerage and financial services. It acts as an agent or broker for mortgage lenders, as the lender or principal in loan transactions, as well as solicits and receives applications for secured and unsecured loans. As of May 12, 2006, it operated through 30 offices in New Mexico, Texas, Oklahoma, Colorado, Nevada, and Arizona. PSM Holdings was incorporated in 1991 and is based in Roswell, New Mexico.
Forward Looking Statement: This press release contains statements, which may constitute “forward-looking statements” within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of PSM Holdings Inc, and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
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Primary SIC — Industry Classification 6163 – Loan brokers
Modified 9/19/07