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Metrocities Mortgage Names Karen Bayz, Executive Vice President & Chief Accounting Officer

SHERMAN OAKS, Calif.--(BUSINESS WIRE)--Sept. 14, 2005--Metrocities Mortgage, LLC, a leader in the national residential mortgage lending market, today announced the appointment of Karen A. Bayz, CPA, as Executive Vice President, Chief Accounting Officer. In this new position, Ms. Bayz, who joins Metrocities from her previous leadership position with WMC Mortgage Corp., will oversee all finance-related activities for the Company.

Ms. Bayz comes to Metrocities with more than 20 years of experience in various financial roles with medium to large companies boasting capitalization between $250 million and $1 billion. In addition to seven years of "Big Four" public accounting experience with Price Waterhouse/Coopers, her successful track record includes management of financial companies' performance, including acquisitions and mergers, SEC registration and reporting, strategic planning, compliance with Sarbanes Oxley, and management systems, analysis and reporting.

Ms. Bayz' most recent position for the past six years was Senior Vice President and Controller with WMC Mortgage, a subsidiary of GE Consumer Finance, where she was responsible for all financial accounting, reporting, auditing, treasury and tax activities. In addition to chairing the WMC's Capital Expenditure Committee, Ms. Bayz was responsible for consolidated back office financial systems, oversaw the financial aspects of acquisitions and strategic initiatives prior to GE ownership, and was attributed with many process improvements including the creation of new financial reporting systems. Prior to her work with WMC, Ms. Bayz worked as a Consultant with Deloitte Touche Resources Connection, where she served as interim controller with a large mortgage company; Financial Consultant with Smith Barney, where she designed investment plans and financial planning strategies for high net worth individuals and companies; and Vice President of Finance & Assistant Treasurer with Mellon 1st Bank where she was responsible for the finance functions of this $1.0 billion institution.

Licensed as a CPA with the state of California, Ms. Bayz has a Bachelor of Science degree from USC and is a member of AICPA, the California State Society of CPAs, and Financial Executives Institute.

About Metrocities Mortgage

Established in 1989, Metrocities Mortgage is ranked in the top 1 percent of residential mortgage lenders nationwide for closed loan volume, closing over $6.3 billion(a) in 2004. Headquartered in Sherman Oaks, California, Metrocities Mortgage has become a leading nationwide lender based on unique loan programs and successful joint ventures (affiliated business arrangements) with key real estate companies, credit unions, financial advisor/business management companies, builders and other affinity groups. Loan Officers have access to over 7,000 loan programs and proprietary search engine technology enabling them to find the best loan products for their clients. As America's Best Relationship Lender(SM), Metrocities Mortgage is renowned for its in-house lending expertise, wide selection of loan programs and Heroic Customer Service(SM). (a)Includes Metrocities' family of companies.