First Chester County Corporation Forms New Seasoned Loan Transactional Team
WEST CHESTER, Pa.-(Business Wire)-September 23, 2009 - First Chester County Corporation (OTCBB: FCEC) and its wholly owned subsidiary, First National Bank of Chester County, today announced that the American Home Bank (AHB) division of First National Bank of Chester County has expanded its mortgage banking activities to include seasoned loan transactions.
The new seasoned loan transactional team focuses on acquiring high-quality, seasoned, residential mortgage loans from financial institutions and other holders of seasoned mortgage loan portfolios. Based out of Fort Lauderdale, Florida, the new unit consists of a team of mortgage banking professionals with extensive experience in banking, mortgage banking, and capital markets.
James Deitch, Managing Director of American Home Bank, said, “This further enhances our ability to offer a full range of mortgage banking services to our clients. Our seasoned mortgage professionals will help our clients augment their capital base and create liquidity, while at the same time provide them with efficient trade execution.”
The seasoned loan transactional team is staffed to perform all the tasks necessary to facilitate the execution of a client sale including initial data analysis from the servicer’s tape, data analysis and verification, due diligence and execution of both service retained and service released transactions.
The team is headed by Maylin Casanueva, a professional with 23 years of experience in the mortgage industry. She formerly served in similar capacities as a senior member of Redwood Financial Services’ management team. She was also the Director of Transaction Management and Due Diligence Services for CoreStates Securities and Meridian Capital Markets where she worked with both Fannie Mae and Freddie Mac in negotiating MBS (mortgage backed securities) and REMIC (Real Estate Mortgage Investment Conduits) structures.
About First Chester County Corporation
First Chester County Corporation and its wholly owned subsidiary, First National Bank of Chester County, is a financial institution with 24 branch offices located in Chester, Montgomery, Delaware, Lancaster and Cumberland counties. Founded in 1863, First National Bank of Chester County is the eighth oldest national bank in the country. First National provides quality financial services to individuals, businesses, government entities, non profit organizations, and community service groups. Wealth Management and Trust Services are provided through First National Wealth Management, a division of First National Bank of Chester County. Mortgage services are provided through American Home Bank, a division of First National Bank of Chester County. For more information, visit www.1nbank.com or call 1-877-FNB-0100.
Safe Harbor
This release may contain “forward-looking statements” which may be identified by the use of such words as “believe,” “expect,” “anticipate,” “should,” “planned,” “estimated,” and “potential.” Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors discussed in our Annual Report on Form 10-K for the year ended December 31, 2008, our Quarterly Report on Form 10-Q for the quarter ended June 30, 2009, as filed with the Securities and Exchange Commission (SEC), and additional filings we make with the SEC. In addition, the forward-looking statements included in this release represent our views as of the date of this release. We assume no obligation to update publicly or revise any forward-looking statements made herein or any other forward-looking statements made by us, whether as a result of new information, future events or otherwise.
 |
 |
 |
|
||
 |
|
 |
|
||
Search Our News Using Google Search
Can't find what you want? Try using Google:
