SOURCE: Shearson Home Loans

March 08, 2007 12:41 ET

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