American Financial Resources Inc. / AFR Mortgage announces it is launching an FHA Correspondent Mortgage Lending Division

Parsippany, NJ – May 19, 2010.  American Financial Resources Inc. (AFR Mortgage), a nationwide mortgage banker, announced today they are launching a new FHA correspondent residential mortgage lending division that will purchase closed loans from selected FHA direct endorsed lenders.

Today, the secondary market is faced with many challenges especially for the small to mid-sized mortgage lender.  According to Mr. Richard Dubnoff, CEO, “There is a real need to provide this type of service to the midsize mortgage banking community.  The AFR Mortgage Correspondent Lending Division will be a trusted source for the secondary market”.  AFR will be one of the few secondary investors in the country to purchase FHA insured loans on manufactured homes. 

About American Financial Resources, Inc.

Established in 1998, American Financial Resources Inc. (AFR) is a privately owned mortgage banker headquartered in Parsippany, New Jersey.   The company is a HUD Direct Endorsement FHA lender, Fannie Mae approved seller/servicer and GinnieMae Issuer.  AFR is approved to do business nationwide and is currently one of the top 25 largest FHA lenders in the country.   The company operates as three divisions, Correspondent Lending, Wholesale, and Residential Mortgages.

For more information about the company visit their websites at:  www.afrcorrespondent.comwww.afrwholesale.comand www.afrmortgage.com

 

Parsippany, NJ – March 28, 2010.  American Financial Resources Inc, a nationwide mortgage lender has selected Timios Inc., as their exclusive agent to conduct closings and escrow services for all residential mortgages where permitted by state and local laws. 

“The selection of Timios Inc. as our exclusive settlement agent strengthens our position to ensure the integrity and full compliance with each and every loan transaction,” said Richard Dubnoff, CEO.  “In addition, this partnership brings multiple benefits for our customers doing business with us.  For our wholesale mortgage brokers, it means lower costs and better service. Borrowers will no longer have to cover escrow service fees as AFR will pick up the cost at closing.  Brokers will no longer need a Closing Protection Letter and E&O insurance.  Brokers will also receive instant order confirmation, be given a dedicated closing specialist, and they will have same day disbursement of escrow.  Brokers, borrowers, realtors, or sellers may continue to select the title insurance company of their choice.  In the event they choose Timios as their title agent, we have negotiated reduced pricing where allowed by state and local laws.”

Last year, American Financial Resources closed $1.4 billion in loan volume.

About American Financial Resources, Inc.

Established in 1998, American Financial Resources Inc. (AFR) is a privately owned mortgage banker headquartered in Parsippany, New Jersey.   The company is a HUD Direct Endorsement FHA lender, Fannie Mae approved seller/servicer and GinnieMae Issuer.  AFR is approved to do business nationwide and is currently one of the top 25 largest FHA lenders in the country.   The company operates as three divisions, Residential Mortgages, Wholesale, and Correspondent Lending. 

For more information about the company visit their websites at: www.afrmortgage.com www.afrwholesale.com and www.afrcorrespondent.com

About Timios Inc.

Timios Inc. is a nationwide provider of title insurance and settlement services.  Timios utilizes a centralized processing and fulfillment model with one company-wide operating system. Combined with direct integrations with its lender customers, this model ensures fast, accurate processing in a paperless environment which yields superior customer service.

Denville, NJ – March 5, 2010. American Financial Resources Inc, a nationwide mortgage lender opened a new branch office in Cherry Hill, NJ to service the local communities of central and southern NJ.

The branch office will be led by Phil Valianti, the former head of American Mortgage. Mr. Valianti has over 20 years of experience in the mortgage industry and has been an active member of the local community for over 30 years. “The opening of an AFR Branch Office in Cherry Hill makes good business sense for both AFR and the community. American Financial Resources has an excellent reputation as a mortgage lender and offers a suite of mortgage products that most mainstream banks do not” said Phil Valianti. “We will be actively engaged in the local communities working with Realtors, Financial Advisors, and citizens with mortgage or refinancing needs”. The new branch office will be located at 1010 Berlin Road, Cherry Hill, NJ.

About American Financial Resources, Inc.

Established in 1998, American Financial Resources Inc. (AFR) is a privately owned mortgage banker headquartered in Denville, New Jersey. The company is a HUD Direct Endorsement FHA lender, Fannie Mae approved seller/servicer and GinnieMae Issuer. AFR is approved to do business nationwide and is currently one of the top 25 largest FHA lenders in the country. The company operates as three divisions, Retail, Wholesale, and Correspondent Lending.

For more information about the company visit their websites at: www.afrmortgage.comwww.afrwholesale.com and www.afrcorrespondent.com

Denville, NJ – January 25, 2010. Despite a challenged economy, American Financial Resources
Incorporated, a nationwide mortgage banker, announced today they achieved record Revenue and Sales
Volume for year ending 2009.

“While this has been a tumultuous year for the mortgage industry, I am confident in the strategies we
have in place” said Rich Dubnoff, CEO. “We will continue to manage our growth in light of the many
changes reshaping our industry and to stay focused on meeting the needs of our client base. The key is
to position ourselves for the long term”.

American Financial Resources total revenue for 2009 was $1.4 billion, doubled from 2008. Total loans
closed were 7,000, twice the volume over the previous year.

About American Financial Resources, Inc.
Established in 1998, American Financial Resources Inc. (AFR) is a privately owned mortgage banker
headquartered in Denville, New Jersey. The company is a HUD Direct Endorsement FHA lender, Fannie
Mae approved seller/servicer and GinnieMae Issuer. AFR is approved to do business nationwide and is
currently one of the top 25 largest FHA lenders in the country. The company operates three divisions,
Retail, Wholesale, and a Correspondent Lending Division.
For more information about the company visit their websites at: www.afrmortgage.com
www.afrwholesale.com and www.afrcorrespondent.com

Denville, NJ – October 26, 2009. American Financial Resources Incorporated (AFR Mortgage), a nationwide mortgage banker, announced today it will be consolidating their New Jersey offices to a new
central location in Parsippany, NJ. The consolidation of their business offices is scheduled to take place in the first quarter of 2010.

The move stems from the unprecedented growth the company has experienced over the last several years. According to Mr. Richard Dubnoff, CEO, “We simply have outgrown our capacity. This
consolidation will allow us to service our customers more efficiently by having the administration and operations in one central location”. AFR Mortgage estimates 250+ employees will relocate to 9 Sylvan
Way, Parsippany, NJ.

About American Financial Resources, Inc.
American Financial Resources Inc. is an independent mortgage banker, licensed in all 50 states, and currently one of the top 25 largest FHA lenders in the country. The company maintains 9 regional sales
offices through out the country. For 2009, the company’s sales will be in excess of $1.5 billion dollars. For more information about the company visit their website at: www.afrmortgage.com or
www.afrwholesale.com