Chase Manhattan Mortgage Corporation Names Tom Garvey As National Production Executive

Business Wire, March 30, 1999

EDISON, N.J.--(BUSINESS WIRE)--March 30, 1999--Thomas M. Garvey has been named National Production Executive of Chase Manhattan Mortgage Corporation (CMMC), a unit of The Chase Manhattan Corporation (NYSE: CMB). Garvey continues to hold the title of Executive Vice President of CMMC.

As National Production Executive, Garvey will lead the development of Chase's mortgage origination strategies across the retail, wholesale, correspondent, and alternate distribution lending channels. Chase is the nation's third largest mortgage originator.

"To compete in a consolidating industry, Chase is emphasizing the importance of an integrated approach to retain existing customers and add value to them via cross selling at the point of sale," said Thomas Jacob, chief executive officer of Chase Manhattan Mortgage Corporation. "Now, with Tom Garvey responsible for each of Chase's mortgage production channels, we will continue to develop our new origination technology platform, and maximize our productivity through greater consistency in operating processes and the leveraging of our strengths across all channels."

Garvey, 47, has served as head of CMMC's Retail Channel for the last three years. Previously, he was president of Chase Personal Financial Services, the number one jumbo mortgage lender in the United States. His mortgage experience spans 18 years at Chase, encompassing positions of increasing responsibility.

Chase Manhattan Mortgage Corporation is a subsidiary of The Chase Manhattan Corporation, with more than $365 billion in assets. CMMC, with headquarters in Edison, New Jersey, is the nation's third largest originator and servicer of residential mortgages, providing home financing and ancillary products and services nationwide. Chase's National Consumer Services franchise serves more than 30 million consumers coast to coast. Chase can be reached on the Web at www.Chase.com.