FOR IMMEDIATE RELEASE

Contact: Bob Catlin
               President - Signature Mortgage Corporation
              Phone: 330-305-1996
              E-mail: bobcatlin@smcinc500.com

May 30, 2008
 
Reverse Mortgage Activity Remains Strong Despite Declining Property Values

Despite property values falling back to 2005 levels, demand for reverse mortgages continues to grow at record levels.  This is partially attributed to lower interest rates and a significant loss in the buying power for retirees.

A reverse mortgage enables homeowners 62 and older to convert their home equity into cash.  What makes this type of mortgage so popular is that there are no payments for as long as the senior homeowner lives in their home.

The U.S. Department of Housing and Urban Development (HUD) reports that 9,564 reverse mortgages were endorsed in April 2008.  This brings the year-to-date total to 64,776, an 8.1 percent increase over 2007.

At the same time, home values in the first quarter of 2008 fell 7.7 percent from the first quarter of 2007 according to a Home Value Report released by Zillow.com.

The amount a borrower may receive from a reverse mortgage is determined by their age, the interest rate, and the home value.  So, in some cases a decline in a home’s value may reduce the amount a retiree can receive from the reverse mortgage.

Reverse mortgage growth continues to be strong for a number of reasons including:

• An increase in the demand to supplement retirement income.  Each year since 2000, retirees have received an increase in their Social Security benefits lower than the rate of inflation.  Social Security benefits have increased by just 22 percent, while retiree expenses have risen by 71 percent.  Retirees have lost 40 percent of their buying power.

• Low interest rates have helped to offset the impact from lower home values.

• Property values have not declined in all areas.  In fact, some areas of the country have seen home appreciation.

Unlike regular mortgages reverse mortgages have not been subject to tighter credit standards.  A retiree seeking a mortgage in today’s market may be turned down because they do not qualify based on credit and income.  However, a reverse mortgage does not use credit or income in qualifying. 

Further attraction for the reverse mortgage is the ease and flexibility it provides in customizing the way funds are received.  This includes a lump sum, a line of credit, monthly payments, or a combination of two or more of these options.

"Funds from the reverse mortgage do not affect Social Security or Medicare benefits," Bob Catlin, President at Signature Mortgage Corporation said.  "Our senior clients have been able to continue to enjoy their retirement with the peace of mind of knowing they will not outlive their retirement income."

Legislation currently working its way through Congress is expected to result in a substantial increase in the national loan limit for the FHA-insured reverse mortgage.  If passed, it would raise the limit from $362,790 to $550,000, and would help increase the amount seniors with a home valued over $362,790 could receive from a reverse mortgage.

For those retirees who already have an FHA-insured reverse mortgage, it’s a relief to know that the availability of funds from their reverse mortgage will not be affected by a drop in their home’s value.

To learn more about reverse mortgages, Signature Mortgage Corporation provides a free informational package and confidential estimate by calling them toll-free at 800-241-1996 or by visiting their website at www.smc4seniors.com.

Contact: Bob S. Catlin/Signature Mortgage/330-305-1996

CONTACT:    Robert S. Catlin/Signature Mortgage/330-305-1996        

FOR IMMEDIATE RELEASE

May 01, 2008

SIGNATURE MORTGAGE CORPORATION INTRODUCES
A NEW REVERSE MORTGAGE WEBSITE

Seniors Have Access To Free “Reverse Mortgage Guides” and other useful information.

CANTON, OH—Signature Mortgage Corporation of Canton, Ohio developed a user friendly Reverse Mortgage website to assist seniors in their decision making about Reverse Mortgages.  The site can be easily accessed www.smc4seniors.com.

“Financial decisions regarding your home are some of the most important decisions you’ll ever have to make, especially if you are a senior,” commented Bob Catlin, the firms president.

Signature Mortgage encourages seniors to learn everything about a Reverse Mortgage including whether or not the program is right for them.

Founded in 1996, Signature Mortgage was cited in the fall of 2004 by Inc. magazine as one of America’s fastest growing, privately held companies based on its 323 per cent sales growth over a four-year period.

Signature Mortgage maintains a $10 million warehouse line of credit and has a branch in Naples, Fla.  An employer of 16, Signature Mortgage provides additional services through its sister company, Title Works Ltd.

For more information about Signature Mortgage, visit its website at www.smc4seniors.com, or contact Signature Mortgage, 4790 Douglas Circle, NW, Canton, OH 44718; phone 330-305-1996; toll-free 1-800-241-1996.

CONTACT:     Robert S. Catlin/Signature Mortgage/330-305-1996
            Rod A. Covey/Covey & Koons, Ltd./330-244-8515

FOR IMMEDIATE RELEASE

January 12, 2006

SIGNATURE MORTGAGE FEATURED IN NEW BOOK, SMALL GIANTS, WHICH
EXPLAINS WHY 14 COMPANIES CHOOSE TO BE GREAT INSTEAD OF BIG

CANTON, OH—A business-book author, Bo Burlingham, has included a Canton mortgage-lending company as an example of “Companies That Choose to Be Great Instead of Big,” subhead of his latest book, Small Giants.
 
Small Giants details the growth of Signature Mortgage Corp. since its 1996 founding. In 2004, it was named by Inc. magazine as one of America’s fastest-growing, privately held companies. Burlingham also is Inc.’s editor-at-large.
 
In Signature Mortgage’s portion of the book, the author wrote, “A major source of pressure to grow, though it doesn’t affect everyone, comes partly from the social and cultural environments in which we all live and work, and partly something in the entrepreneurial psyche. Signature’s CEO, Robert Catlin, is one person who has struggled with it. He developed a system that allowed his 16 employees to outperform mortgage companies with three or four times as many people. 
 
“The company was wildly successful. Friends colleagues, customers and strangers said they couldn’t understand why he didn’t do the same thing in other midsize markets around the country,” said Burlingham.
 
He then quotes Catlin’s response: “People tell me all the time, ‘You’re crazy, pal. You’re missing a golden opportunity.’ I say, ‘Hey, I’m doing just fine. I have control. I have freedom. I have family time and travel time.  What more can I ask for.’ ”
 
The author opines that “the notion that bigger—or more—is better has so pervaded our culture that most people assume all entrepreneurs want to capitalize on every business opportunity, grow their companies as fast as they can, and build the next Microsoft or Citicorp. That widespread assumption, in turn, can become another pressure to grow, especially when status and prestige come into play.”
“It’s really tough—because it can become an ego thing,” said Catlin. “I spend a lot of time soul-searching.  What’s this all about?  What do I want to do with my life? The world says, ‘Go. Get bigger. Go. Go.’ But I don’t see why I should.” 
 
Signature Mortgage provides additional services through its sister companies, Grimsley Title/Title Works Ltd. and Signature Financial Services.
 
Signature Mortgage maintains a $15 million warehouse line of credit and has branches in Columbus, Ohio and Naples, Florida. The company closed $1 billion in residential mortgages in its first nine years of doing business.
 
For more information about Signature Mortgage, visit its Web site at www.signature-financial.com, or contact Signature Mortgage, 4790 Douglas Circle, NW, Canton, OH 44708; phone 330-305-1996; toll-free 1-800-241-1996.