Shawshank, VA 8/10/2011 (PennyPayDay) – PSM Holdings, Inc. (OTC:PSMH) announced today, in a press release, that it has completed the acquisition of Fidelity Mortgage Inc., effective August 8, 2011. Fidelity Mortgage is located in Grand Junction, Colorado. At the closing, Fidelity Mortgage, Inc., was merged into UCMC, which is a wholly owned subsidiary of PSMI, and its parent company, PSMH. The principals of Fidelity Mortgage, Mr. James Pulsipher and Mr. Jared Peterson, received 1,785,714 shares of common stock of PSMH for their equity in Fidelity Mortgage. Mr. Pulsipher will also sit on the board of directors of UCMC. In addition, PSMH has signed a letter of intent to purchase FMC Properties, LLC., which is the holding company that owns the Fidelity Mortgage building located at, 700 Belford Avenue, Grand Junction, Colorado.
Fidelity Mortgage has been doing business in Grand Junction since 1986. According to the terms of the agreement, Mr. Pulsipher will continue to lead the Grand Junction mortgage operation for PSMI. In addition, the Grand Junction offices will serve as the regional corporate offices and lending center for Prime Source Mortgage. This region consists of current and any new offices in Colorado, Idaho, Utah, Montana, North and South Dakota, and Wyoming.
Mr. Pulsipher stated, "We believe this new partnership with PSMH will create new opportunities for us and allow us to substantially grow our lending platform. At the same time, we look forward to continuing to provide the world-class service our clients and customers have come to expect." Ron Hanna, CEO of PSMH, stated, "We are so fortunate to bring on a company of the caliber of Fidelity. James, Jared and the rest of their team have taken customer service to a new level and they will significantly to the PSM family and motto of, "We Walk You Home." This acquisition represents one more step in our goal of becoming one of the premier mortgage banking companies in the US."
PSM Holdings, Inc., through its wholly owned subsidiary, PrimeSource Mortgage, Inc. (PSMI) provides mortgage brokerage and banking services across the United States. PSMI is currently licensed in 19 states across the United States, and oversees the operations of more than 30 branches.
PennyPayday Free Stock Quotes and Approach to the Stock Market
PennyPayday focuses on bringing penny stocks and small-cap companies from all exchanges, such as (PSMH), into the spotlight for investors seeking early development opportunities. PennyPayday has quickly become a recognized penny stock site and a top source for investors seeking information and research on today's emerging hot stocks. PennyPayday provides the investing public with stock market daily news, free real-time stock quotes, free stock charts, research for investing, as well as economic stories, videos, and market briefs from a staff of experienced and dedicated financial journalists.
Sign up for our Free Newsletter today, and join the thousands already getting our emails on the hottest stocks to watch.
Disclaimer: Neither www.PennyPayday.com nor its officers, directors, partners, employees or anyone involved in the publication of this website or newsletters is a registered investment adviser or licensed broker-dealer in any jurisdiction whatsoever. PennyPayday may or may not have been compensated by mentioned companies: (PSMH). For full disclaimer/disclosure please read PennyPayday's disclaimer.
No comments:
Post a Comment