SOURCE: Delta Financial Corp

January 31, 2007 10:48 ET

Delta Funding Corporation Celebrates 25th Anniversary

WOODBURY, NY -- (MARKET WIRE) -- January 31, 2007 -- Delta Financial Corporation (AMEX: DFC) today announced the celebration of the 25th anniversary of its wholly owned subsidiary, Delta Funding Corporation.

"Delta is proud to celebrate this milestone, which illustrates the Company's fortitude and resilience in this ever-changing and challenging industry," said Hugh Miller, president and chief executive officer. "Our headcount has grown considerably over the last 25 years and currently totals approximately 1,400 employees located throughout the United States. We attribute a large part of our success to our employees to whom we are extremely grateful for all of their hard work and unwavering dedication."

Mr. Miller continued, "At 25 years, we have one of the longest operating histories in the sector, which is testament to our making decisions based on the long-term interests of our Company. In many instances, this has meant taking the road less traveled, by avoiding market-prevalent risky strategies, which may have temporarily boosted our short-term results, but would have left us more vulnerable in the long term. Throughout our 25 years, Delta has remained predominantly focused on originating non-conforming fixed-rate mortgage loans -- a strategy that has become the cornerstone of our business model."

About the Company

Founded in 1982, Delta Financial Corporation is a Woodbury, New York-based specialty consumer finance company that originates, securitizes and sells predominantly fixed-rate non-conforming mortgage loans. The Company's loans are primarily secured by first mortgages on one- to four-family residential properties. The Company originates non-conforming loans through a network of approximately 3,000 independent brokers and the Company's retail offices. Since 1991, the Company has completed 50 asset-backed securitizations, collateralized by approximately $18.0 billion in mortgage loans.

Contact Information

  • For More Information Contact:

    Jayne L. Cavuoto-Krafchik
    Director of Investor Relations
    (516) 812-8217
    Email Contact

    Drew Biondo
    Director of Corporate Communications
    (516) 812-8208
    Email Contact