Shearson Home Loans Enters Into a Joint Venture With Stinson Financial
LAS VEGAS, NV -- (MARKET WIRE) -- March 8, 2007 -- Shearson Financial Network Inc. (OTCBB: SFNN)
reports that its subsidiary, Shearson Home Loans, has entered into a joint
venture agreement with Stinson Financial, a mortgage banking company based
in San Diego, California. The agreement enables Stinson's 30-branch loan
origination platform to operate within Shearson Home Loans mortgage banking
infrastructure.
Chairman & CEO Michael A. Barron said, "We continue to seek to improve, and
expand our loan operations by such opportunities as being presented here.
The presence of a strong southern California regional player such as
Stinson gives our network a broader reach into the market. Our partner,
Harry Dennis President of Stinson Financial, is a twenty-year veteran in
mortgage banking who has successfully increased loan production levels
beyond market expectations throughout his career. We believe this venture
provides a great opportunity for revenue growth in the coming years."
About Shearson Home Loans
Shearson Home Loans is a provider of residential mortgages licensed to do
business in 34 states. The company is a consolidator of independent
mortgage brokerages. The company currently is seeking new branches for its
growing network. For more information, please visit the company's website
at www.shearsonhomeloans.com.
Statements in this press release other than statements of historical fact,
including statements regarding the company's plans, beliefs, and estimates
as to projected results and market size are "forward-looking statements."
Such statements are subject to certain risks and uncertainties, including
factors listed from time to time in the company's SEC filings, and actual
results could differ materially. These forward-looking statements represent
the company's judgment as of the date of this release. The company
disclaims, however, any intent of obligation to update these
forward-looking statements.
Contact Information: CONTACT:
Shearson Home Loans
Michael Barron
702-868-7922