American Mortgage News

Will focus on expanding Lend America its rapidly growing direct-to consumer retail platform

Company expects to be a top five FHA lender by early 2009

Higher loan limits on FHA insured loans offer tangible solution for new set of borrowers

Company now offers $1,200 “stimulus package” to provide additional assistance to borrowers

Become part of strong growing national mortgage company

New York Times bestselling author Todd Duncan to be featured speaker

LOS ANGELES--(BUSINESS WIRE)--TMSF Holdings, Inc. (OTCBB:TMFZ), today announced that it has signed an agreement with Genesis Financial Services Fund, LLC on a subordinated note with a maximum draw of $10 million. The note authorizes a $3 million draw-down immediately upon signing, with the balance required to be drawn down during a one-year period. It has a term of five years and is subject to certain financial and general covenants similar to those associated with the Company’s existing warehouse credit facilities. The Company intends to utilize the capital provided by the subordinated debt to implement its growth strategy for 2007. The strategy calls for TMSF to seek out opportunistic acquisitions that will dramatically strengthen its foothold in California, while continuing to build its national origination platform.

MIAMI--(BUSINESS WIRE)--Bayview Financial®, an $11 billion real estate lending and investment finance company, announced Jan. 1 the name change of its Southlake, Tex.-based InterBay Funding, LLC seller finance subsidiary to Bayview First Funding, LLC, effective January 1, 2007. NOTE: The name change does not apply to Bayview Financial’s InterBay Funding®, which originates small commercial loans.

National broker selects partners to enhance services and incentives

CHARLOTTE, N.C.--(BUSINESS WIRE)--1st Metropolitan Mortgage, a division of Empire Equity Group, has added two additional lenders and three service providers to its Preferred Lenders and Vendors Programs (PLVP). Aegis Mortgage Corp. and Credit Suisse Bank have been approved as preferred lenders, and Ellie Mae, Richmond Title and Turning Point have been approved as preferred vendors. The preferred program strategically aligns individual branches with select partners and uses collective buying power to negotiate preferred service levels and pricing incentives that a single branch may not otherwise enjoy.

Boston-based mortgage banking firm grows operations; Raises preferred equity investment from leading New York financial services company

BOSTON--(BUSINESS WIRE)--Summit Mortgage LLC, a premier, private Boston-based mortgage banking firm, today announced it experienced continued growth in 2006 despite a challenging mortgage and real estate market.