(Sherman Oaks, CA, May 24, 2006) - Metrocities Mortgage, LLC, today announced record funding volume for the first quarter of 2006. During the first three months of the year, the leading national direct lender tallied $1.5 billion in closed loan volume - which included a 23% increase in purchase volume over the same period in 2005. In addition, Metrocities' retail volume in April was up 15%.

"We are very pleased with these results," explained Paul Wylie, CEO, Metrocities Mortgage. "Metrocities set the goal last year of becoming the No. 1 joint venture lender in the country and we have been working hard to achieve that goal.

"These strong numbers are the result of the addition of a number of new joint venture relationships which are generating increased business," he added. "In 2005 alone, we experienced a 90% increase in our number of these relationships over 2004. We are also providing outstanding customer satisfaction levels among our partners' clients as evidenced by our recent garnering of the CustomerSat ACE Award for mortgage borrower satisfaction."

Ranked in the top 1% of lenders nationwide, the cornerstone of Metrocities' business is its joint venture business model, in which the mortgage banker forms strategic alliances with real estate companies, builders, financial firms and others to provide "one-stop shopping" services for consumers.

Metrocities Mortgage

Established in 1989, Metrocities Mortgage is ranked in the top 1 percent of residential mortgage lenders nationwide for closed loan volume. Headquartered in Sherman Oaks, California, Metrocities Mortgage has become a leading nationwide lender based on unique loan programs and successful joint ventures 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. Metrocities Mortgage was named the "Most Innovative Mortgage Company" in 2005 by Inman News, and received the 2005 CustomerSat ACE Award for mortgage borrower satisfaction. For additional information, please contact (800) 215-7138 or visit www.metrocitiesmtg.com. 0506-104