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[QUOTE]Originally posted by Thorn: [QB] News... Union Equity Appoints President for Subsidiary Preferred Properties Real Estate Inc. Business Wire - August 15, 2005 08:37 PALM BEACH, Fla., Aug 15, 2005 (BUSINESS WIRE) -- Union Equity, Inc. (Pink Sheets:UNQT) management has appointed Ms. Cyndi Lindenberger as president of Preferred Properties Real Estate, Inc., its subsidiary that is currently applying for correspondent lender status. Correspondent mortgage lenders are authorized to originate and broker residential and commercial mortgage loans and collect a commission in the process. Ms. Lindenberger possesses more than 20 years of experience in residential mortgage loan origination, processing, underwriting and real estate speculation. Upon issuance of the correspondent lender license, PPRE will affiliate with a wide variety of wholesale lenders in order to accommodate conforming or "A" borrowers to those borrowers who fall outside of the requirements of traditional loan programs, otherwise known as "B-C" borrowers. Ms. Lindenberger is highly motivated and experienced in completing no doc, low doc and stated loans for clients. In addition to fulfilling her responsibilities as president of PPRE, Ms. Lindenberger will act as Senior Underwriter for Union Equity Inc., analyzing files for loans Union Equity funds directly. PPRE will offer loans to the general public but will also act as a support vehicle for Home Sales Express, a Union Equity subsidiary specializing in the For-Sale-By-Owner (FSBO) market. Home Sales Express, Inc. is a comprehensive resource for homeowners who want to participate as buyers or sellers in the For-Sale-By-Owner (FSBO) market. Through its website http://www.KingOffer.com, Home Sales Express is designed to attract owners of distressed properties that are not yet listed on the open market for purchase consideration by the company. The site can also accommodate owners of conforming properties who want to sell directly without the assistance of a real estate agent. Upon approval and filing of a Uniform Franchise Offering Circular (UFOC), as applicable and where required by law, Home Sales Express, Inc. will provide franchisees with brand name recognition, a ready-made website and comprehensive marketing support and access to financing through PPRE. [/QB][/QUOTE]
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