Aimbridge Home Loans Partners with LoanCare Servicing Center to Offer Credit Unions a Private Label Servicing Program

DENVER--April 27, 2004--

Program Helps Credit Unions Retain Members and Win Repeat Business

Aimbridge Home Loans, a division of Aimbridge and a full-service mortgage provider for credit unions and their members, announced an affiliation with LoanCare Servicing Center, Inc. ("LoanCare") to offer credit union business partners a private label servicing program. LoanCare is a national loan subservicer providing subservicing for more than 100 companies, with approximately $5 billion in loan balances under management.

Now, credit unions can transfer their current loan servicing portfolios to Aimbridge Home Loans/Loan Care, who, on a contract basis, will perform all "back office" servicing functions, including member services, payment processing, investor reporting, escrow administration and default management.

"Among the many key benefits our subservicing program offers is lower servicing costs and reduced operational risk for credit unions," Keith Brown, president of Aimbridge Home Loans, said. "Loan Care's servicing platform has critical mass and can pass on cost benefits that come with economies of scale to both the credit union and the credit union member."

Aimbridge Home Loans/Loan Care offers a unique private label program designed to promote the credit union's name. We can integrate a hyperlink into the credit union's existing Web site so its members can have instant, seamless access to a wealth of mortgage loan information on a 24/7 basis.

Additionally, Aimbridge Home Loans/LoanCare uses the credit union's name and logo on monthly billing statements, year-end reporting and other borrower communications. Borrowers can continue to make their checks payable to their credit union, and payments can be made in the credit union's branch offices.

Steve Bentley, CEO and founder of Aimbridge, said, "With greater emphasis on the credit union's name in combination with the use of our LoanCare Servicing Center name, this unique private label program promotes the relationship between the credit union and member resulting in greater member retention, stronger brand recognition and increased opportunity for repeat and referral business for our credit unions."

Another benefit of the Aimbridge Home Loans' affiliation with LoanCare and its private label subservicing program is it allows credit unions to expand their mortgage servicing business without expanding their infrastructure. Using the Aimbridge Home Loans/LoanCare program, credit unions will not need to acquire additional space, hardware, software or human resources for servicing business growth. The program also provides immediate access to advanced servicing systems as credit unions "rent" a state-of-the-art servicing platform saving the expense of developing a servicing platform themselves.

In addition, operational risks, such as administration of Private Mortgage Insurance (PMI) and default management, are transferred to Aimbridge Home Loans/LoanCare. The division is responsible for keeping abreast of and remaining compliant with state and federal regulations as well as government service enterprise (GSE) and private investor requirements.

"Aimbridge Home Loan/LoanCare's private label servicing program will enable our credit union clients to compete with larger financial institutions and consistently provide a better home loan experience to their members," Bentley said. "We believe it is one of the most efficient channels for servicing loans."

About Aimbridge

Founded in 1984, Aimbridge markets financial products, such as auto loans, mortgages and insurance products through partnerships with credit unions. The company helps their partners attract members and deepen their relationships by providing members more reasons to do business with their credit unions.

Aimbridge Group is comprised of five divisions, including Aimbridge Indirect Lending, Aimbridge Home Loans, Aimbridge Financial Services, Aimbridge Disposition Services and Aimbridge Automotive Group. The company is headquartered in Denver and has remote offices throughout the Unites States.

For additional information, visit www.aimbridge.com.