Sherman Oaks, CA - August 4, 2005 - Metrocities Mortgage, a leader in the national residential mortgage lending market, has been named the "Most Innovative Mortgage Company" for 2005 through the Inman Innovator Awards competition. The prestigious award recognizes the company's use of technology and innovation to enhance the real estate transaction for consumers and real estate professionals.

"We are very honored to receive this important accolade," explained Metrocities CEO Paul Wylie. "The real winners, however, are both our clients and business partners who benefit from Metrocities' 'one-stop' shopping business model, proprietary loan search engine technology and Heroic Customer Service^SM Guarantee.

"This award represents what we can accomplish with vision, teamwork and dedication," he added.

Metrocities has built a successful platform upon the cornerstone of its business model - Affiliated Business Arrangements (ABAs) - in which the company forms strategic alliances with partnering members such as real estate agencies, builders and financial firms to provide the "one-stop" shopping experience preferred by real estate customers. In addition to the company's recent national expansion efforts, Metrocities launched a business-to-business website (www.metrocitiesaba.com) in 2004 dedicated to providing robust information about its joint venture program. The company also updated its consumer site (www.metrocitie^SMtg.com) with an emphasis on providing Heroic Customer Service^SM and access to over 7,000 loan programs.

The Inman Innovator Awards is an annual competition conducted by Inman News, the nation's leading independent real estate news service and content provider. The Innovator awards, which were presented at an event on July 27, honor cutting-edge technology, business models and pioneers in online real estate, brokerage and mortgages. Runners-up in the "Most Innovative Mortgage Company" category included: Bank of America, Countrywide, DiTech, First Metropolitan Mortgage and Wachovia.

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 $4.6 billion in 2003. Metrocities operates as both a mortgage banker (direct lender) and a mortgage broker. 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.