Opteum Inc. (NYSE:OPX)
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Opteum Inc. (NYSE:OPX) (“Opteum”
or the “Company”), a
real estate investment trust (“REIT”)
that operates an integrated mortgage-related securities investment
portfolio and mortgage origination platform, today announced that Martin
J. Levine, Co-Founder, Executive Vice President and Chief Operations
Officer of the Company’s wholly owned
subsidiary, Opteum Financial Services, LLC (“OFS”),
will be retiring effective March 31, 2007. The Company also today
announced the appointment of Robert Filiberto and G. Hunter Haas IV as
Co-Chief Operating Officers of OFS effective immediately. Mr. Levine
will continue in his role as Executive Vice President pending his
retirement and will work closely with Mr. Filiberto and Mr. Haas until
then to ensure a seamless transition of his responsibilities.
Mr. Levine, who co-founded OFS with Peter R. Norden in 1999, launched
First Builders Financial Corporation in 1987 and served as its President
until it merged with Olde Town Mortgage in 1989 to form First Town
Mortgage Corporation. He then served as Executive Vice President and
Chief Operations Officer of First Town until its purchase in 1999 by
Chase Manhattan Mortgage Corporation. A Certified Public Accountant, Mr.
Levine commenced his career at Touche Ross and Company and later spent
time at Coopers and Lybrand, Kenneth Leventhal and Company and Pan
American Properties.
A New Jersey resident, Levine is a graduate of New York University,
having earned a bachelor’s degree in
accounting. He is also a member of numerous professional and community
organizations.
Commenting on Mr. Levine’s retirement,
Jeffrey J. Zimmer, Chairman, President and Chief Executive Officer of
Opteum, stated, “Marty has been a tremendous
resource for OFS since its initial founding. Drawing upon his
twenty-plus years of operating experience, Marty has been instrumental
in facilitating OFS’ transition from a
privately held enterprise to a subsidiary of a publicly traded
corporation. We are grateful for all of his contributions and, on behalf
of all of Opteum’s associates, we wish him a
long, healthy and prosperous retirement.”
Robert Filiberto, currently Senior Vice President and Chief Servicing
and Technology Officer at OFS, joined OFS in August 2000 as Vice
President of Loan Administration. In his new role as Co-Chief Operating
Officer, Filiberto will report to Peter Norden and will have primary
accountability for Servicing, Information Technology and Post-Closing
functions.
G. Hunter Haas IV, currently Senior Vice President & Head of Mortgage
Research at Opteum, will assume the additional role of Co-Chief
Operating Officer of OFS and will have primary accountability for OFS’
Secondary Marketing and Quality Control functions.
About Opteum
Opteum Inc. is a REIT, which operates an integrated mortgage-related
investment portfolio and mortgage origination platform. The REIT invests
primarily in, but is not limited to, residential mortgage-related
securities issued by the Federal National Mortgage Association (Fannie
Mae), the Federal Home Loan Mortgage Corporation (Freddie Mac) and the
Government National Mortgage Association (Ginnie Mae). It attempts to
earn returns on the spread between the yield on its assets and its
costs, including the interest expense on the funds it borrows. Opteum's
mortgage origination platform, Opteum Financial Services, LLC,
originates, buys, sells, and services residential mortgages from offices
throughout the United States and operates as a taxable REIT subsidiary.
Statements herein relating to matters that are not historical facts
are forward-looking statements as defined in the Private Securities
Litigation Reform Act of 1995. The reader is cautioned that such
forward-looking statements are based on information available at the
time and on management's good faith belief with respect to future
events, and are subject to risks and uncertainties that could cause
actual performance or results to differ materially from those expressed
in such forward-looking statements. Important factors that could cause
such differences are described in Opteum Inc.'s filings with the
Securities and Exchange Commission, including Opteum Inc.'s most recent
Annual Report on Form 10-K or Quarterly Report on Form 10-Q. Opteum Inc.
assumes no obligation to update forward-looking statements to reflect
subsequent results, changes in assumptions or changes in other factors
affecting forward-looking statements.