Michele Newsham hired to enhance the Company?s operational infrastructure and lending value chain WALLA WALLA, WASHINGTON - (February 12, 2009), NetMore America, Inc. (?NetMore?), an expanding next generation mortgage banker, announced today the hiring of Michele Sophiea Newsham as the Company?s new Executive Vice President, Operations. Ms. Newsham brings to this new position over 20 years of national operation management experience within the mortgage industry with a strong focus on process design, efficiency modeling and team building. Ms. Newsham will play a critical role in the Company?s risk management efforts and be based at NetMore?s operations center in Clackamas, Oregon. ?Michele?s successful background in operational management, leadership in building partnerships across company lines while balancing production needs and back office compliance is an exceptional fit for NetMore?s immediate and long-term goals.? commented Mark Freedle, President and CEO of NetMore. "Having just closed over $126 million in loans in January 2009, a 33% increase over December 2008, and with our objective of being a nationwide lender by 2010, NetMore is focused on continuing to enhance our operational efficiency to achieve higher productivity and mitigate risk throughout the lending value chain.? In her new role, Ms. Newsham is responsible for national operations for Wholesale Lending and NetMore?s Professional Branch System. Ms. Newsham joins NetMore from Senior Lending Network, where she served as Vice President, National Operations managing the wholesale and retail operations for reverse mortgage originations. Previously, she was Senior Vice President, National Wholesale Operations of American Brokers Conduit (?ABC?), where Ms. Newsham developed and initiated operational processes and procedures that helped ABC to become the fastest growing and a top ten ranked wholesale mortgage lender. During Michele?s tenure, ABC?s annual production grew to over $33 billion at the end of 2006 from just $1.9 billion in 2002 and she was responsible for managing 34 decentralized wholesale operation centers with a staff of five regional managers, three national support managers and over 600 employees nationwide. In addition, during her career Ms. Newsham has held senior operational roles at Washington Mutual and Bank of America among other mortgage origination companies. "I am delighted to be joining NetMore during this exciting period to help further prepare the Company for its nationwide expansion and next stage of growth," commented Ms. Newsham. ?With a significant increase in production volume anticipated in 2009, on top of record volumes realized in 2008, there is no better time to assess and implement best practices and streamlined processes to create efficiencies, manage risk and increase overall profitability. I am excited about working closely with this outstanding team of forward thinking professionals and helping to build a sustainable national platform through responsible lending.? 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 50% FHA and 50% agency loans. NetMore employs over 200 persons and is based in Walla Walla, Washington, with its 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 protected]
