Tampa, Florida - February 4, 2005 - Hyde Park Capital Advisors, LLC is pleased to announce the acquisition of Watermark Financial Partners Inc. by Mortgage Investors Corporation. Mortgage Investors Corporation or MIC, based in St. Petersburg, Florida, is the leading VA mortgage lender in the country and Watermark is a leading national FHA mortgage originator based in Denver, Colorado. Hyde Park Capital Advisors, LLC, the investment banking subsidiary of Hyde Park Capital Partners, LLC, initiated the transaction and served as Mortgage Investors' exclusive financial advisor and investment banker.
In connection with the acquisition, Mr. Bill Edwards, CEO of MIC said, "The acquisition of Watermark Financial is highly strategic for us as it expands our government focused mortgage lending business from primarily VA residential loans into the much larger FHA mortgage loan category. Combining the MIC and Watermark platforms further positions MIC as the premier government focused mortgage lender in the United States."
John H. Hill, Jr., Senior Managing Director of Hyde Park Capital, said, "With the Watermark acquisition completed, MIC quickly becomes one of the leading FHA mortgage lenders in the United States and reinforces its solid position as the #1 government focused mortgage loan originator."
About Mortgage Investors Corporation
Mortgage Investors Corporation is the nation's largest independent mortgage banking firm primarily engaged in the origination and sale of Veterans Administration guaranteed residential mortgages. Founded in 1938 and headquartered in St. Petersburg, Florida, MIC has created a highly profitable nationwide network of loan officers and offices which operate in 45 states and originate VA mortgage loans, helping our nation's veterans finance their home purchases. For additional information about Mortgage Investors Corporation visit www.mortgageinvestors.com.
About Watermark Financial Partners
Watermark is a national mortgage company specializing in FHA Streamline refinance loans. As one of the largest originators of this FHA program, Watermark can offer its customers FHA's most competitive interest rates. More important, their size and vast experience with this FHA program enables them to close these FHA loans quickly and efficiently for their clients. For additional information about Watermark Financial Partners visit www.watermarkmortgage.com.
About Hyde Park Capital
Hyde Park Capital is an institutionally focused boutique investment bank primarily serving the corporate finance needs of private and public companies in Florida and the Southeast. Hyde Park Capital's principals have significant transaction experience raising private capital for companies, including equity, mezzanine and debt, and successfully executing merger & acquisition engagements, including purchase and sale of company assignments, recapitalizations, financial advisory and fairness opinions. Hyde Park Capital has significant experience in the financial services, technology, healthcare, consumer, and manufacturing sectors, but is broadly focused on representing outstanding companies in any industry. Hyde Park Capital has offices in Tampa, Florida and Charlotte, North Carolina and is a member of the NASO and SIPC. For additional information about Hyde Park Capital visit www.hydeparkcapital.com or call (813) 383-0202.