American Financial Resources Inc. / AFR Mortgage Announces a Record Year in Revenue and Sales Volume for 2009

DENVILLE, N.J., Jan. 25 /PRNewswire/ -- Despite a challenged economy, American Financial Resources Incorporated, a nationwide mortgage banker, announced today they achieved record Revenue and Sales Volume for the year ending 2009.

"While this has been a tumultuous year for the mortgage industry, I am confident in the strategies we have in place," said Rich Dubnoff, CEO. "We will continue to manage our growth in light of the many changes reshaping our industry and to stay focused on meeting the needs of our client base.   The key is to position ourselves for the long term."

American Financial Resources total revenue for 2009 was $1.4 billion, a 48% increase over 2008.  Total loans closed were 7,000, a 49% increase in volume over the previous year.

About American Financial Resources, Inc.

Established in 1998, American Financial Resources Inc. (AFR) is a privately owned mortgage banker headquartered in Denville, New Jersey.   The company is a HUD Direct Endorsement FHA lender, Fannie Mae approved seller/servicer and GinnieMae Issuer.  AFR is approved to do business nationwide and is currently one of the top 25 largest FHA lenders in the country.   The company operates three divisions, Retail, Wholesale, and a Correspondent Lending Division.  

For more information about the company visit their websites at: www.afrmortgage.com www.afrwholesale.com and www.afrcorrespondent.com.

SOURCE American Financial Resources Incorporated