WHITE PLAINS, N.Y., Oct. 7 /PRNewswire-FirstCall/ -- Diversified Mortgage Workout Corporation (Pink Sheets: DMWK) today announced that it will seek to acquire a small to mid-sized regional bank.
"The growth of Diversified Mortgage Workout Corporation will be enhanced with an acquisition of this type, as it will allow the company access to certain capital/borrowing abilities and additional financing sources for the continued acquisitions of non-performing real estate portfolios and also create a lending vehicle to restructure financing for those assets being sold and liquidated," said Victoria Forlenza, President & COO.
Ms. Forlenza also added, "An acquisition of this nature will provide even greater synergies through out our company and will provide Diversified with even greater resources for growth."
About Diversified Mortgage Workout Corporation:
The company engages in the acquisition of distressed sub-prime mortgage portfolios, real property and individual troubled homeowner's mortgages at significant discounts. The company has a current outstanding public float of 2.1 million common shares. Please visit the company's website at: http://www.dmwkcorp.com/.
This press release contains certain forward-looking statements. All forward-looking statements in this press release are based on information available to the company as of the date hereof, and the company undertakes no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release.
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