WealthSpring Mortgage, Minnesota's Seventh Largest Residential Mortgage Company, Announces Name Change

Business Wire, Sept 23, 2003

Business Editors

MINNEAPOLIS--(BUSINESS WIRE)--Sept. 23, 2003

Michael Warner, president of WealthSpring Mortgage, announced today the change of his company's name from American Summit Mortgage. "Our new name reflects our deep desire to always look out for each client's unique financial situation, all the while keeping their concerns in mind. Our goal is to help them build wealth and financial freedom. We want each client to become a raving fan." Warner said.

WealthSpring Mortgage has grown rapidly. In May of 1997, Michael McVay began American Summit in Arden Hills, MN with 23 employees. Today, McVay is the chairman, CEO, and sole owner. WealthSpring Mortgage has garnered much success by offering homeowners greater loan options when buying and refinancing their homes. Today, WealthSpring is the seventh largest residential mortgage company in the state of Minnesota(1).

McVay, who founded his first company at the age of 17, created American Summit Mortgage to directly respond to client needs that arose from a lack of choices in the mortgage industry. "What we do is enable the client to get better financing than before. Instead of trying to fit the client to a loan, we try hard to fit a loan to the client," McVay said. Creating a mortgage company that focuses itself on customer needs and works to fit the loan to the customer is one of the things that distinguish WealthSpring Mortgage from the competition.

Warner has also been instrumental in helping the company achieve its success during his tenure as Vice President of Mortgage. Today he oversees the company. "Going forward, we will be able to offer clients even faster personalized service. It is our mission to try to deliver whatever solution exactly matches the financial situation for each client," Warner said.

About WealthSpring Mortgage

The company recently embarked on a new branding campaign. It is now comprised of a wholesale mortgage lending division named Avizen Lending Solutions, as well as the retail mortgage broker division, WealthSpring Mortgage. Avizen Lending Solutions and WealthSpring Mortgage are also affiliated with ClearRock Title. Headquartered in Golden Valley, MN, the company also has offices in Arden Hills, Eden Prairie, and Woodbury. It serves clients in over 15 states. Michael McVay, founder, currently employs over 450 people.

(1)As ranked by The Business Journal according to loan volume in its February 21, 2003 issue.