Prospect Mortgage News

OPTEUM MORTGAGE EXPERIENCING SOLID GROWTH AMIDST INDUSTRY TURMOIL

Local Mortgage Company Well Positioned for Long-Term Success


(Atlanta, GEORGIA, August 16, 2007) - Atlanta-based Opteum Mortgage - which was recently acquired by Prospect Mortgage Company, LLC, an affiliate of the $2.2 billion private equity fund group Sterling Partners – is experiencing strong growth amidst industry turmoil, including a thirty percent increase in the company's sales force.

Despite the significant challenges of the current business environment, Sterling Partners has committed more than $125 million in capital to the business, enabling Opteum to pursue increased market share through key strategic initiatives.  These initiatives include recruiting more loan officers, launching several new marketing programs and investing in company-wide technology upgrades.

"Opteum has a clean financial slate and ample funding to seek new business across the country," said Rick Floyd, President of Opteum and President of the Mortgage Bankers Association of Georgia. "Our lending practices are prudent and our capital base is solid, so we are well positioned to weather this disruption in the credit markets and continue to grow."

"Sterling Partners has invested in Opteum Mortgage as part of a long-term commitment," said Tom Wippman, Managing Director of Sterling Partners. "We understand that the mortgage and real estate industries are in a down cycle. We've entered other industries at similar low points and realized excellent results through patience and effective strategies. Sterling believes in Opteum and the future of the mortgage industry."

Opteum Mortgage
Established in 1999, Opteum Mortgage combines advanced technology and superior customer service to provide its customers with a Five-Star Mortgage Experience. Headquartered in Atlanta, Ga., Opteum is a nationwide lender that attributes its success to strong relationships with realtor and builder partnerships, as well as a very knowledgeable sales force who builds business through referrals and repeat customers. Loan Officers have access to more than 7,000 loan products and are assisted by proprietary technology tools enabling them to find the best financing solution for their clients. Together, we put people in homes - a place where memories are created, friendships are cherished and families are connected. Learn more at www.opteum.com.

Sterling Capital Partners
Sterling Capital Partners is an affiliate of Sterling Partners ("Sterling"), a private equity fund group with over $2.2 billion of capital under management. Founded in 1983, Sterling partners with superior management teams, invests in companies with strong business fundamentals and leverages the firm's proprietary methodology for acceleration of growth. Sterling collaborates closely with entrepreneurs and business owners to achieve the growth standard in their industry. Sterling Capital Partners assumes controlling interests in middle-market companies through equity investments ranging from $15 million to over $100 million per company. Industries of focus include financial services, education, healthcare, business services, direct marketing, specialty manufacturing and distribution, and technology.  (www.sterlingpartners.us)