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MBS Increases Mortgage Warehouse Lines MBS temporarily increases warehouse lines of credit to support strong mortgage and home equity loan volume TEXAS - August 28, 2006 - MBS, an online lending company, today announced that it has temporarily increased its warehouse lines of credit capacity from $370 million to $575 million. MBS temporarily increased its warehouse line of credit with Greenwich Capital Financial Products from $300 million to $425 million. The increase will remain in effect through November 26, 2005. MBS also temporarily increased its warehouse line of credit with a warehouse line of credit Bank, a unit of GMAC Bank, from $70 million to $150 million. The increase will remain in effect through October 15, 2002. The warehouse lines of credit are available for borrowings for interim financing of mortgage and home equity loans and are collateralized by MBS's mortgage and home equity loans held-for-sale. MBS uses warehouse credit facilities to fund its mortgage and home equity loans prior to their sale to capital market loan purchasers, the warehouse line which typically occurs within 30 days of funding. MBS actively manages its warehouse line requirements to ensure sufficient production capability while minimizing the costs associated with additional line capacity. "We temporarily increased our warehouse lines of credit to support our current production requirements," , MBS's Chief Financial Officer. "The additional capacity enables us to meet the demands of our growing purchase mortgage and home equity businesses and the favorable refinance mortgage interest rate environment." About MBS Contact the MBS group today about getting Warehouse Lines of Credit.
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