Secured Funding Tops $1.25 Billion in Loans Closed; Home Equity Focus Increases Loan Volume, Total Number of Loans, Employee Growth

COSTA MESA, Calif. -- Secured Funding, a full-service retail and wholesale lender specializing in second mortgages, ended 2005 with significant increases reported in loan volume, total number of loans closed and employee growth. The lender's loan volume increased by 62.7%, while the total number of loans increased by 68.5%. The nearly 18,000 loans closed in 2005 exceeded $1.25 billion and marks the first time in company history that volume has exceeded $1 billion.

"The accomplishments of this year alone reflect how Secured Funding's customers and broker networks rely on our unique and customized second mortgage products," said Lorne Lahodny, president of Secured Funding. "The substantial increase in loan volume we experienced in 2005 helped the company to generate record cash flow and profits. With the expertise of the new members on our corporate team and an emphasis on surpassing expectations, Secured Funding will continue its progress in redefining home equity lending in 2006."

Secured Funding increased its employee size by 28% from 594 to 822, added more than 80,000 sq. feet of office space, and expanded market reach in seven new states in 2005. The newest additions to the corporate roster include: CIO, Joe Lindsay; CFO, Phil Dandridge; Director of Capital Markets, Michele Moses; and Director of Risk Management, Tom White. Specializing in second mortgages and home equity products that allow borrowers to retain their low first mortgage rate from the refinance boom, Secured Funding thrived in the 2005 home equity marketplace with a broad range of products that appeal to both borrowers and brokers.

About Secured Funding Corporation:

Secured Funding Corp. (www.securedfunding.com) is a future-focused mortgage banker committed to leading the home equity revolution in America. The lender funds over $125 million in HELOC and home equity loans each month. Secured Funding remains positioned as the home equity specialist over recent years of market fluctuation by constantly improving speed, efficiency, and the overall customer experience. Placing an emphasis on innovation and emerging technology, the company has implemented RiLOS and SelectQual, an advanced loan operating system and automated underwriting engine. Together these technologies reduce funding time by weeks. As a leader of home equity loans, Secured Funding has grown to serve a market often overlooked by traditional firms, thus providing lending value and strengthening connections between customers, brokers, and investors. The company's operations are centralized by technology through its state-of-the-art headquarters in Costa Mesa, California. Secured Funding was founded in 1993 and today has more than 850 employees and operates in 39 states.

What are people saying about mortgages today:

Rates on 30-year mortgages edged down last week to a seven-month low. Mortgage-giant Freddie Mac reported Thursday that 30-year, fixed-rate mortgages fell to 6.3 percent, down slightly from 6.31 percent two weeks ago. It put rates at the lowest level since they were at 6.24 percent the first week of March.

Bank of Hawaii, Central Pacific Bank, Territorial Savings Bank and Wells Fargo Home Mortgages all cut their 30-year mortgage rates to 5.75 percent this week.

Most people think of a mortgage as a means to an end. After all, you buy a house, not a home loan. But a mortgage is much more than the path to homeownership. It is a financial instrument that must be managed, just like any other financial investment.