SOURCE: We Save Homes, Inc.

March 15, 2010 08:30 ET

We Save Homes, Inc. Announces Definitive Agreement to Acquire a 51% Controlling Interest in Metro Pacific Management

IRVINE, CA--(Marketwire - March 15, 2010) - We Save Homes, Inc. (OTCBB: WESA), a software solutions company that provides the mortgage risk management industry with technology that enables collaboration and communication for loan modifications, foreclosures, loss mitigation and short sales, announced today that it has signed a definitive agreement to acquire a controlling interest in Metro Pacific Management, an established, full-service processing service center that has managed contracts for several financial institutions. The Metro Pacific suite of services includes:

--  Full Service National REO Asset Management
--  Customizable Pool Analysis for Acquisition
--  Batch / Bulk / Individual loan analysis for determining exit strategies
--  Borrower contact / Occupancy checks / Skip trace
--  Proprietary Online Auction for Bulk or Individual Sales
--  Foreclosure Avoidance Services and Strategies
--  National Distressed property Real Estate Network
--  High Volume Loan Modification and "Home Retention / Foreclosure
    Avoidance"
--  Streamline Modifications |Super Streamline Modifications |High Touch
    Modifications
    --  Proprietary technologies including Real Estate Owned ("REO")
        property software

We Save Homes, Inc. will have a 51% interest in the joint venture and will control Metro Pacific Management and consolidate its results. The Metro Pacific Management team will continue in their existing roles and will work with WESA management to offer services and solutions to meet any default servicing need.

For this acquisition, We Save Homes, Inc. will pay 300,000 shares of stock plus an undisclosed percentage of the revenue streams that WESA generates from asset investment, processing short sales or other distressed assets, REO management, real estate transactions and its call center. The transaction, which is subject to customary closing conditions, regulatory approvals and approval from WESA shareholders, is expected to close by April 30, 2010.

We Save Homes, Inc. President Ryan Boyajian stated, "By acquiring a controlling interest in Metro Pacific Management, WESA becomes one of the industry leaders as the ultimate outsource solution for all loss mitigation functions. Through the use of our industry leading technology (eTurboMod) as well as our expanding group of expert affinity partners, the joint venture will offer a full range of services and solutions to meet any default servicing needs. Starting with foreclosure avoidance services and strategies and including high volume loan modification, home retention, loan servicing and asset management, we believe that WESA is way ahead of the curve in this market and will be an asset to any lender/servicer in need of our services."

Metro Pacific Management CEO Stuart Campbell commented, "With this strategic acquisition, the combined entities of Metro Pacific Management and We Save Homes, Inc. expand into a full-service mortgage risk management company with tremendous growth potential. This now makes us a 'one-stop shop' of accountability which can facilitate faster times frames for our key market segments of attorneys, real estate agents and lenders. Increasing value-added services of We Save Homes, Inc.'s existing suite of products in the distressed property asset management market comes at just the right time."

ABOUT WE SAVE HOMES, INC.

WE SAVE HOMES, INC. is the only publically traded loan modification, loss mitigation and short sale software Company to assist homeowners nationwide. Through their network, WESA's mission is to keep American's in their homes.

WESA is a software technology solutions company that provides the mortgage risk management industry with internet distributed software that enables collaboration and communication for loan modifications, foreclosures, loss mitigation and short sales. The eTurboMod™ system enables an organized process to link the mortgagor's critical documents with the loan servicing company's process for evaluating and restructuring the mortgage notes. To impress on our government, the need for uniformity in processes industry wide. WESA has been actively involved with Federal and State Lawmakers and the Banking Industry to effectively construct a consistent process and equal policy through an automated software technology platform that would facilitate absolute precision and management.

We Save Homes, Inc. was founded by a group of Real Estate, Mortgage, Financial and Legal Professionals dedicated to educating and assisting homeowners. It is our vision to empower homeowners with knowledge so they may make better informed decisions and remain in their homes during these tough economic times. WESA has successfully created a bi-lingual network of resources that facilitate the loan modification process.

Visit our website at www.wesavehomes.com or contact us at: (877)593-4464.

This news release may contain forward-looking statements made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. We Save Homes, Inc. has based these forward-looking statements largely on its current expectations and projections about future events and trends that it believes may affect its business strategies, results of operations, financing needs, and financial condition. These projections involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements, which may include but are not limited to changes in the performance of the real estate markets and interest rates, changes in applicable government regulations; enforcement by legislators and regulators; the inability to consummate the acquisition of controlling interest in Metro Pacific Management; as well as, the inability to obtain necessary regulatory approvals, the failure to obtain the final approval of the company's board of directors and shareholders, the landscape of the real estate and mortgage marketplace, overall market conditions, ratings agencies, the inability to realize the benefits of the proposed acquisition of controlling interest in Metro Pacific Management; as well as, among other factors, increased borrowing costs, competition between the resulting companies, unfavorable reactions from employees, consolidation among the company's significant customers and competitors, changes in the company's ability to integrate businesses which it acquires, unfavorable economic conditions, impairments in the company's goodwill or other intangible assets, and other factors described in this press release and the Company's filings with the SEC. The forward-looking statements are related only as of the date they are made. The company does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements made herein.

Contact Information

  • Contact:
    Ryan Boyajian
    President
    Phone: 949-599-1831