Metrociti Opens New Lending Operation with Fidelity National Asset Management Solutions (FNAMS)

May 6, 2002

Metrociti Mortgage announced that it has formed a strategic alliance with Fidelity National Asset Management Solutions (FNAMS), the newest partner in its successful ABA program. The new in-house lending joint venture formed between the two companies will be known as MetroNational Mortgage. As one of the largest asset management companies in the country, FNAMS specializes in handling the disposition of real estate owned (REO) properties for lenders and services nationwide. With the creation of MetroNational, FNAMS can now provide attractive financing for investors and buyers of REO properties, thus creating a “one-stop” shopping experience for its clientele.

Paul Wylie, President of Metrociti Mortgage, viewed the alliance as a natural fit for both companies. “Metrociti and FNAMS share the same commitment to independence, growth and high customer service standards. We’re looking forward to working together and building a very successful in-house lending operation.” Tom Di’Mercurio, Executive Vice President of FNAMS, echoed Wylie’s sentiment, adding, “While other companies merge into unmanageable corporate entities, we thrive on our individual approach of simply making things happen. Metrociti’s business approach and philosophy as well as their hands-on management style match our own. FNAMS, like Metrociti Mortgage, creates valuable and profitable relationships with its partners. We’re incredibly excited about joining forces with a strong mortgage lender like Metrociti.”

About Fidelity National Asset Management Solutions
Fidelity National Asset Management Solutions (FNAMS) provides for the management and disposition of real estate owned (REO) properties for servicers and lenders nationwide. FNAMS is a division of Fidelity National Financial, the largest title insurance company in the nation and works closely with foreclosure, bankruptcy and eviction attorneys, appraisers, brokers, title and escrow divisions to successfully manage and liquidate REO properties around the country. Their state of the art proprietary case-management technology allows them to significantly reduce client overhead while providing superior results. FNAMS' technical expertise and experience with the negotiation and liquidation of REO properties is unparalleled.

About Metrociti
Established in 1989, Metrociti Mortgage is the largest, independent privately held retail residential mortgage banker in the country. Metrociti Mortgage is ranked among the top 1% of all mortgage companies nationwide, closing $2.1 billion in 2001. Metrociti Mortgage has become a leading nationwide lender based on unique loan programs and successful strategic alliances with key real estate companies, credit unions, business management companies, builders, title companies and other affinity groups. Metrociti Mortgage is one of the nation's leading providers of successful in-house lending programs (also known as Affiliated Business Arrangements). Loan officers utilize the company's database of over 5,000 loan programs and state-of-the-art, proprietary search engine technology to find the best loan products for their clients. Metrociti Mortgage is renowned for its in-house lending expertise and heroic customer service. For more information, please call 800-464-2484.