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-------------------------------------------------- Anza Capital Inc. Closed a Record $208,000,000 in Loans; Closes More Than $550,000,000 in 2nd Quarter
FRIDAY , NOVEMBER 15, 2002 03:01 AM
COSTA MESA, Calif., Nov 15, 2002 (BUSINESS WIRE) -- Vincent Rinehart, president & CEO of Anza Capital Inc. "AnzaCap," (OTCBB:ANZA) (Frankfurt Exchange:ANZA.f)(Berlin Exchange:ANZA.BE) announced that American Residential Funding Inc. (AMRES), a wholly owned subsidiary, arranged a record $208,000,000 in home loans for the month of October.
The fiscal 2nd quarter produced more than $555,000,000 in closed loans, raising the possibility that AMRES could exceed $2 billion in home loans for the full year ending April 2003.
Rinehart said: "The very low interest rates, combined with the rapid expansion of our branch network, has resulted in breaking through the loan volume and revenue targets set earlier this year. Business remains strong, with continued growth in the 39 states we are licensed to do home loans."
"In addition, Expidoc.com, an ANZA wholly owned subsidiary, is also setting record income marks. Their largest customer, a nationwide mortgage banking firm, is at a pace to order over 1,200 loan document signings for the month of November," stated Rinehart.
"ANZA is wrapping up the accounting for the 2nd quarter ending October, and expect to file their 10-Q prior to Dec. 15," he said.
This news 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 ANZA's 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 ANZA's reports, as well as their subsidiaries, and other documents filed with the Securities and Exchange Commission, especially the ammended 10-KSB filed March 5, 2002, and recent Quarterly reports, the most recent filed Sept. 20, 2002. ANZA 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.
CONTACT: ANZA Capital Inc., Costa Mesa Vincent Rinehart, 714/866-2100 E-mail: vince@amres.net
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