Greenlight Financial Services Expands National Presence for Continued Growth in 2003

Business Wire, Jan 14, 2003

Business Editors

IRVINE, Calif.--(BUSINESS WIRE)--Jan. 14, 2003

One of America's Fastest Growing Direct to Consumer Mortgage Lenders

Opens East Coast Headquarters

Greenlight Financial Services, one of the nation's fastest growing direct to consumer mortgage companies, today announced the opening of its East Coast Headquarters, in New Jersey. The Green Brook, NJ office expands Greenlight's national presence and complements the mortgage lender's headquarters in Irvine, California. The New Jersey staff will supply the same excellent customer service that Greenlight has always prided itself on, servicing customers with the most competitive rates on purchase mortgages, refinancing, or home equity loans.

The opening of Greenlight's New Jersey office is the latest step in the enormous growth the company has experienced since its launch last year. Greenlight opened its doors in September 2001 with 12 staff members; today, Greenlight has 314 employees, with plans to add another 200 by the end of 2003. Two billion dollars in loans have been originated by Greenlight since its inception.

Greenlight's East Coast headquarters will be run by Steve Loges, who will serve as Operations Manager. Prior to joining Greenlight, Loges served as Consultant to Advisory Services at PB Associates, and before that was GMAC / Ditech.com's Lead Underwriter. Loges will focus on launching Greenlight's East Coast Call Center and Processing operations for the origination unit, as well as overseeing daily operations and the expansion of Greenlight throughout the Eastern seaboard.

"We are excited to expand our base of operations and are thrilled to bring Steve Loges on to lead the new office," said Joann Pham, Greenlight's Founder, and CEO. "Greenlight's New Jersey office will serve a dual purpose: it broadens our national reach while providing additional resources for our constantly expanding team of loan counselors and support -- a step that has become necessary to handle the huge volume of loans we provide."

Delivering increased functionality, the New Jersey office will include a Servicing Department, allowing customers the convenience of dealing with one company -- now customers can pay their loans directly through Greenlight. The office will also allow for increased customer service to coincide with the exponential growth the company has recently experienced.

Greenlight is home to the industry-first "Greenlight Challenge" -- if a client is ever able to find a more competitive rate elsewhere, they are free to cancel without any cost or obligation. No up-front fees or rate lock deposits are ever required. Unlike with many mortgage lenders, Greenlight's original quote, the Greenlight Discount Fee, never becomes inflated by the end of the loan process; a Greenlight loan quote is one that consumers can count on.

About Greenlight Financial Services:

Greenlight Financial Services (www.greenlightloans.com), one of the fastest growing direct to consumer mortgage lenders in the industry specializes in refinancing, as well as purchase mortgages and home equity loans. As Greenlight does not charge any up-front fees or require deposits to lock in rates, it combines advanced technology with experienced customer care to provide the quickest, most accurate answers, very low interest rates and superior service. Greenlight Financial Services is headquartered in Irvine, CA.