And now:Ish <[EMAIL PROTECTED]> writes:
via LadyScribe
From: [EMAIL PROTECTED]
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Subject: First Americans to Enter Urban Indian Market Through the...
Date: Thu, 18 Feb 1999 10:36:45 EST
First Americans to Enter Urban Indian Market Through the Internet
LENEXA, Kan.--(BUSINESS WIRE)--Feb. 18, 1999--Dustan R. Shepherd,
president of First Americans Mortgage Corp. (FAMC), a subsidiary of
AmeriResource Technologies Inc. (OTC BB:ARET) announced Thursday that
the company will expand their Native American loan production by
utilizing their Internet origination website and video conferencing in
conjunction with Indian Centers.
The company recently submitted a $100 million loan origination
proposal to a primary secondary market conduit. The proposal targets
the Urban Indian population in 10 major metropolitan areas and calls
for the development of a new residential loan product to be used in
conjunction with existing conventional and government insured loan
programs. FAMC proposes to reach out to the more than 70,000 Native
American households located in these cities by placing computers with
Internet access into each of the city's Indian Centers. Through the
use of FAMC's origination webpage and video conferencing Native
American home buyers could walk into an Indian Center, sit down and
have a face-to-face interview with FAMC staff in Kansas. According to
the National Urban Indian Council more than 75 Indian Centers provide
cultural and supportive services to urban Native Americans in cities
from coast-to-coast.
In conjunction with this new project, the company is pleased to
announce the addition of Chester (Chet) L. Ellis to the FAMC staff.
Ellis, a member of the Arikara tribe, joins FAMC after spending 22
years as the executive director of the Heart of America Indian Center,
Kansas City, Mo. The center under Ellis' direction served more than
6,000 individuals representing more than 55 tribes. As a past board
member of the National Urban Indian Council, Ellis brings a vast
network of contacts throughout Indian Country and in particular Indian
Centers. His primary responsibility will be to identify the most
opportunistic centers for partnership development while assisting the
operational staff in designing an effective working structure with
each center. Although the initial point of contact with the borrower
will be through the Internet, FAMC envisions many of the larger
centers having enough loan production to warrant loan originators
onsite at some point in the future.
Shepherd stated: "Lenders have marketed to women, African
Americans, Hispanics, Asian Americans and other minorities for years
but we know of no one lender who has made a concentrated effort to
capture the nonreservation Native American market. With the addition
of Chet to our staff, we look forward to matching our reservation
lending accomplishments by capturing the lion's share of the off
reservation Native American market."
The release may contain forward looking statements that involve
risk and uncertainties, including without limitations, continued
acceptance of the company's products and services, increased levels of
competition, new products and technological changes. The company's
dependency on financing third party suppliers and intellectual
property rights, and other risks detailed from time-to-time in the
company's federal filings, annual reports, offering memorandums or
prospectus.
CONTACT:
First Americans Mortgage Corp., Lenexa
Dustan R. Shepherd, President
Telephone: 913/859-9505
Fax: 913/859-9520
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Tsonkwadiyonrat (We are ONE Spirit)
Unenh onhwa' Awayaton
http://www.tdi.net/ishgooda/
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