American Residential Funding - stock tout AND mortgage faxes
I’ve posted the stock tout and some charts at Fight Back!!!
The fax had no header at all and the disclaimer states that “Mortgage Banking Stock Alert” was paid “$5,000 cash” for the “publication and circulation of this report.”
According to the “report”, American Residential Funding is doing great, is about to launch a new automated loan approval system, etc. etc. etc.
On March 9, almost 5 mill shares traded and the market closed down over 8%.
They started trading on Dec. 20, 04 according to a press release.
“AMRES is a nationwide mortgage banker and broker licensed to originate loans in over 30 states from over 100 branch locations. They are entering their eighth year in business.
AMRES will remain a majority owned subsidiary of Anza Capital, Inc. (AZAC.OB)”
The 12/20/04 press release:
American Residential Funding Begins Trading over the Counter
Monday December 20, 6:00 am ET
COSTA MESA, Calif.--(BUSINESS WIRE)--Dec. 20, 2004--Vincent Rinehart, President & CEO of American Residential Funding, Inc., (AMRES) (Pink Sheets:ARFG - News), a nationwide mortgage banking and brokerage firm, announced today that it has begun trading as a publicly held company.
Mr. Rinehart stated: “We are extremely pleased to begin this new chapter of growth and expansion for AMRES. This new public market opportunity will strengthen AMRES’ business opportunities in mortgage banking.”
“AMRES is taking advantage of their years in the mortgage industry. Currently closing over $1.5 Billion annually in home loans as a broker, AMRES Mortgage Banking (a division of AMRES) will first be expanding their banking services to their own branch network”’ said Rinehart. After the first of January, AMRES will roll out a wholesale loan program to other mortgage brokers.
AMRES is a nationwide mortgage banker and broker licensed to originate loans in over 30 states from over 100 branch locations. They are entering their eighth year in business.
AMRES will remain a majority owned subsidiary of Anza Capital, Inc. (AZAC.OB)
This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 regarding future results of operations and market opportunities that are based on American Residential Funding’s (AMRES) current expectations, assumptions, estimates and projections about the Company and its industry. Investors are cautioned that actual results could differ materially from those anticipated by the forward-looking statements as a result of risks, competition and other factors. These factors, along with other potential risks and uncertainties are discussed in AMRES’s reports, as well as the reports of Anza Capital, Inc., and other documents filed with the Securities and Exchange Commission. AMRES assumes no obligation to update the forward-looking information contained in this news release and encourages all potential investors to do their own due diligence and suitability analysis before any investment is made.
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Contact:
Anza Capital, Inc., Costa Mesa
Vincent Rinehart, 714-866-2100
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