Mortgage Network Inc., Announces Record Volume Increase

April 28, 2008

COLUMBIA, SC – April 24 – 2008 – Mortgage Network, Inc., the largest independent mortgage company in the Northeast – and quickly moving South – announced today record loan volume for the first quarter of 2008, up 93% over the first quarter of 2007. The company topped $2 billion in loans, the second highest quarter in the company’s history and the highest production since the refinance boom of 2003. Mortgage Network is one of the industry’s best kept secrets and one of the few lending companies to be growing during these unstable times.

Mortgage Network is currently expanding and profitable amidst an industry fraught with losses, bankruptcies, layoffs, and mergers. The company was founded twenty years ago by Robert McInnes and Albert Pare III who have carefully managed and grown key areas of the company, resisting high growth speculative opportunities and maintaining high quality services and standards. The company attracts and hires only experienced debt management experts who conduct business with the highest level of ethics.

Rates remain at historical lows and people still need to buy and refinance homes, said Brian Koss, Executive Vice President of Mortgage Network. The customer’s challenge is finding a professional they can trust to advise them on the right debt solution that best suits their needs. Mortgage Network consistently reviews their portfolio and ensures clients are in optimal shape for their current situation.

In the past twelve months, Mortgage Network has opened 8 new offices and continues to attract the industry’s top talent from a wide variety of financial organizations .While other companies were closing operations or conducting massive layoffs, Mortgage Network increased its staff by over 33% and continues to hire across all offices coast to coast. Plans for 2008-2009 include continued expansion within New York, Northern California, Maine and the mid Atlantic states.

We are in extraordinary shape in this tough market, said Albert Pare III, co- founder of Mortgage Network. We built a world class firm with the absolute best employees and programs in the industry. It would have been easy to conduct more business with riskier products, but that didn’t fit our principles or our business model. Now, we are in a unique position to continue smart and steady growth, offering more employees and clients the ability to join the Mortgage Network family.

There are several Mortgage Network Inc. branches in South Carolina, including Columbia, Charleston, Hilton Head and Bluffton. These offices continue to grow and expand their as many mortgage companies seem to be in a downward spiral. Clint Hammond, Senior Loan Officer of the Columbia branch, located on Devine Street, has increased his volume in the first quarter of 2008 by 43% compared to the first quarter of 2007. He attributes the increase to helping more and more people become aware of what is going on in this troubled and confusing market. Clint conducts informational sessions for real estate agents to help provide them the tools they need to best serve their clients.

“Mortgage Network gives me an operating platform that is unmatched in the industry. My approach is to not only secure financing for my borrowers, but to educate them on the overall mortgage process. I want them to utilize home financing as a legitimate financial tool and utilize me as a financial and long term advisor. My relationship with borrowers doesn’t end with a closing; that’s when we we’re just getting started.”

About Mortgage Network, Inc.

Mortgage Network, Inc. is a private mortgage banking company founded in 1988 by Robert McInnes and Albert Pare III who have co-managed the Company since its inception. Mortgage Network is the largest independent mortgage company headquartered in New England. The Company’s unique combination of experience, product development, and commitment to providing great service has made Mortgage Network an industry leader. Mortgage Network, Inc. currently provides mortgage banking services in over forty states and originates loans through both retail and wholesale channels. The Company has established twenty-seven regional lending offices providing retail mortgage services on the East Coast from Maine to Florida and West Coast including California, and provides wholesale mortgage services through Account Executives nationally. Mortgage Network can be found on the World Wide Web at:

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Clint Hammond may be reached at 803.771.6933 or [email protected] .