Chase Manhatten closes on mortgage deal for regional growth

Chase announced today they have hired Fred Powell as Regional VP. He will have overall responsibility for mortgage loan production and operation of Georgia and Alabama in the Southeast Region. Mr. Powell formally served as Executive VP with Sunshine Mortgage. Under his leadership, Sunshine expanded into Tennessee, North and South Carolina, Maryland, Virginia and Texas. The expansion resulted in Sunshine growing from $500 million to $1.4 billion in loan production while maintaining a ranking as a consistent top 5 lender in Metro Atlanta.

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Chase Manhatten closes on mortgage deal for regional growth

(Atlanta, Ga. June 20, 2002) Chase announced today they have hired Fred Powell as Regional VP. He will have overall responsibility for mortgage loan production and operation of Georgia and Alabama in the Southeast Region.

As one of the top national mortgage lenders, Chase did $183 billion in mortgage originations last year. With this hire, Chase has taken a major step to strengthen its regional presence as a top mortgage lender.

Mr. Powell formally served as Executive VP with Sunshine Mortgage. Under his leadership, Sunshine expanded into Tennessee, North and South Carolina, Maryland, Virginia and Texas. The expansion resulted in Sunshine growing from $500 million to $1.4 billion in loan production while maintaining a ranking as a consistent top 5 lender in Metro Atlanta.

Lee Williamson, President of Bradbury & Williamson, helped Chase solidify the deal with Mr. Powell. Bradbury & Williamson is the nations largest executive recruitment firm that specializes in the staffing needs for production growth in the mortgage banking industry. Our clients have applauded our ability to bring them the strongest producers who immediately contribute to their bottom line revenue," said Mr. Williamson.

Craig Londre, Southeast Divisional VP with Chase Manhatten, said, Powells leadership will enable us to focus our expansion efforts and improve our mortgage services to an already expanding market in Atlanta and the Southeast Region."

Powell is a native of Hawkinsville, Ga. and moved to Atlanta 26 years ago. He began his mortgage banking career in 1970 with Macon Federal in Macon, Ga. In 1991, Powell led the regional establishment of Countywide Home Loans in Georgia, the Carolinas, Virginia, Florida and Tennessee.

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