Key strategic role to manage Company's enormous growth and enable value generation WALLA WALLA, WASHINGTON - (November 7, 2008), NetMore America, Inc. (NetMore), an expanding next generation mortgage banker, announced today the hiring of Edwin Fuchs as the Company's new Chief Financial Officer.
Mr. Fuchs brings to this new position over 20 years of finance experience and a deep understanding of the mortgage industry. Mr. Fuchs will be based at the Company's corporate headquarters in Walla Walla, WA.
"Ed's experience in finance, deep understanding of the mortgage industry and personal qualities makes him the ideal person to lead our finance operation through NetMore's next period of rapid growth" commented Mark Freedle, President and CEO of NetMore.
"The addition of Ed to our senior management team demonstrates our commitment to build a sustainable national platform through proactive financial oversight and by pursuing smart growth strategies to be a leading next generation mortgage leader." Edwin Fuchs, Chief Financial Officer
Mr. Fuchs, who is a Certified Public Accountant and Certified Mortgage Banker, joins NetMore as an accomplished finance executive with over 20 years experience. From 2000-2007 Ed was the Chief Financial Officer of Central Pacific Mortgage Inc. where he was responsible for directing and managing the Company's financial management, reporting and treasury activities. Mr. Fuchs was elevated to the Chief Financial Officer role at Central Pacific Mortgage after serving two years as Senior Vice President of Capital Markets and two years as Vice President of Accounting.
During his career Ed has worked in both secondary marketing and correspondent sales at leading firms. Mr. Fuchs began his career with Arthur Young Public Accounting, and has worked as an internal auditor for Shearson Lehman and the Pacific Stock Exchange.
"I am truly excited to join the talented team at NetMore America" stated Mr. Fuchs. Over the last 12 months NetMore has put in place a strong sales and operational infrastructure that has successfully managed its enormous growth, having just closed approximately $100 million in loans in October 2008.
The NetMore team has the vision, passion and the determination to make NetMore a driving force of change in the mortgage industry and the leading next generation mortgage banker. I look forward to the opportunity to contribute to the Company's continued expansion and success.
About NetMore America NetMore America is a next generation mortgage leader building a sustainable national platform through responsible lending. The Company was founded in 2006 and has expanding retail and wholesale mortgage originations channels. NetMore's product mix is currently 67% FHA and 33% agency loans.
NetMore employs over 200 persons and is based in Walla Walla, Washington, with an operations center located in Clackamas, Oregon. For more information on NetMore please visit www.netmoreamerica.com. "Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: The statements that are not historical facts contained in this release are forward-looking statements that involve risks and uncertainties, including, but not limited to, the results of capital raising efforts, conditions in the residential lending market, regulatory changes pertaining to the mortgage industry, interest rates, general trends in the housing markets, the impact of competition, and other risks.
NetMore undertakes no obligation and has no intention of updating forward-looking statements. MEDIA CONTACTS: John Lovallo Lovallo Communications Group Telephone: 203-431-0587 Cell 203-526-6371 Email: email@example.com