First NLC Financial Services Top Supporter of Mortgage Broker Education Foundation

Market Wire, 20050229

The Florida Association of Mortgage Brokers recently awarded First NLC Financial Services a special charter membership for making the largest contribution in history to the FAMB Foundation, Inc.

With contributions from First NLC and other charter members, the nonprofit FAMB Foundation provides mortgage-related education to both consumers and mortgage professionals. Lynn Ferrie, FAMB State President, presented the award to Neal Henschel, First NLC Chief Executive, at the Broward County trade show this month at the Broward Convention Center in Ft. Lauderdale.

"We have supported the FAMB for more than 15 years." said Mr. Henschel, "I am especially pleased to support the Foundation because I believe that informed brokers and consumers will keep our industry strong."

"Informed consumers are successful consumers," said Harry Gibson, President of the Foundation. "We try to help as many consumers as we can through programs at churches, community centers, and high schools." The Foundation offers a variety of programs, including seminars on reverse mortgages for senior citizens and programs to teach high school seniors sound credit management. The goal is to help consumers and potential consumers gain the information and confidence they need to make their best mortgage decisions.

"The Foundation reaches the families and individuals who need assistance with the jigsaw puzzle of unfamiliar terminology and issues," said Mr. Gibson. "With the various pieces of the mortgage puzzle explained and demystified, consumer graduates are ready to experience and enjoy home ownership."

The FAMB educates mortgage professionals as well as consumers. Courses are available both in the classroom and online. By law, the more than 38,000 licensed mortgage brokers and more than 14,000 registered originators in Florida must complete 14 hours of continuing education before the annual renewal of their licenses. Through the Foundation, FAMB affiliate members receive classroom education for free.

"Knowledgeable professionals package quality mortgages," said Mr. Gibson. "We appreciate the support of Mr. Henschel and First NLC and hope that more of our 2,500 FAMB members will follow First NLC's lead."

First NLC Financial Services is the nation's 27th largest subprime mortgage lender.* The company is privately owned by Sun Mortgage Partners (an affiliated Sun Capital Partners company) and Neal and Jeffrey Henschel. First NLC, which operates in 36 states, has its headquarters in Deerfield Beach, FL, and major operations centers in Tampa, FL; Southfield, MI; Concord, CA; and Anaheim, CA. First NLC is known for its low rates, excellent service, and wide range of mortgage products. For further information, call Chris Coward at 800.950.3314, ext. 1117, or visit www.firstnlc.com.

The Florida Association of Mortgage Brokers was the first mortgage broker association in the nation and the original founders of the National Association of Mortgage Brokers. FAMB's mission is to provide mortgage-related information to first-time homebuyers, homeowners, and business owners throughout Florida. FAMB has chapters in every area of the state. The Florida Association of Mortgage Brokers created the FAMB Foundation in 2000 during the association's 40th anniversary celebration. For further information, call Karen Smith at 800.289.9983 or visit the FAMB web site at www.famb.com.

*This ranking is based on a survey by National Mortgage News, which is published in the Fourth Quarter Data Report by Thomson Publications. The ranking is based on the number of loans originated during the fourth quarter of 2002.