AAXA Mortgage Acquires North Carolina Mortgage Company

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AAXA Mortgage Acquires Wilmington-based American Harbor Mortgage Co.

AAXA Mortgage, a division of national online mortgage company, AAXA Discount Mortgage, Inc., is pleased to announce it has finalized the acquisition of North Carolina wholesale mortgage broker, American Harbor Mortgage Co. With this acquisition, AAXA expands its number of Loan Advisors and staff to over 60 mortgage professionals serving North and South Carolina markets. In addition, AAXA has added a new Branch in Southport, NC to serve high growth areas in Southeastern North Carolina and Myrtle Beach's Horry County. American Harbor's Loan Officers and staff, including all key management personnel, will be based at AAXA's new Wilmington headquarters.

"For over 12 years, AAXA has been a leading national provider of online mortgage services," said Brian Mitchell, vice president of operations. "However in 2006, we made a commitment to better serve key growth areas contiguous with our Wilmington Headquarters, and we have worked diligently to increase representation and market share in these high growth areas of North and South Carolina. With American Harbor's stellar reputation and their professional Loan Team, we should be able to achieve our growth objectives more quickly." Mitchell further stated, "We will continue to evaluate other strategic acquisition opportunities in our key regional markets as and when they arise."

American Harbor was founded in 2002 and is recognized as one of the region's most respected independent mortgage brokers. Pat Holsten, CEO of American Harbor, said "We are happy to be part of the AAXA Group, and our reputation for providing professional, independent mortgage services fits perfectly with AAXA's core operating principals. And by combining our in-house underwriting delegation and network of National Lenders, AAXA can now offer an even wider array of lending resources, more competitive rates and close loans more quickly. We believe we are in a great position to help AAXA expand its presence in the Carolinas, and we are actively seeking to add experienced Loan Officers in both our Wilmington and Southport locations."

Mitchell endorsed these comments and added, "Our market share in high growth areas in Virginia, Texas, and Arizona, as well as the Carolinas, has increased over the 1st Quarter of 2008 and it is our intention to continue our expansion program in all markets where we see opportunities to provide our unique mortgage services.

About AAXA Mortgage
AAXA Mortgage is a full service Mortgage Broker licensed in 25 States. AAXA uses state-of-the-art technology to simplify the lending process and lower the cost of home financing. The Company works with the Nation's most progressive wholesale lending institutions to ensure its customers have access to the most competitive pricing and programs available. AAXA has full service offices in Texas, Arizona, North and South Carolina and can be found online at http://www.forthebestrate.com/. AAXA is headquartered in Wilmington, NC in the Lowell Building located at 2004 Eastwood Road.


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Nat Criss
AAXA Mortgage
(910) 796-7122
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