American Home Mortgage Investment Corp. Announces Private Label Agreement With Signature Bank

American Home Mortgage Investment Corp. Announces Private Label
Agreement With Signature Bank
NY Metropolitan Area Bank Chooses American Home's Mortgage Select to Manage
Mortgage Loan Processing 


MELVILLE, N.Y., June 2  /PRNewswire-FirstCall/ -- American Home Mortgage
Investment Corp. (NYSE:AHM), a mortgage real estate investment trust (REIT),
today announced a private label agreement between its subsidiary, American Home
Mortgage Corp. and Signature Bank (NASDAQ:SBNY), a New York-based full service
commercial bank and Fair Housing Lender.

Under the agreement, American Home Mortgage will provide mortgage loan
processing capabilities to Signature Bank through its online mortgage channel,
Mortgage Select.  Signature Bank will continue to maintain its own client
relationships and sales effort, including rate selection, product offering and
service standards.  By outsourcing their back-end processing and underwriting
of mortgage loans to Mortgage Select, Signature Bank will continue operating
its mortgage business with reduced overhead while offering its valued clients
competitive interest rates.

One of the reasons Signature Bank selected American Home Mortgage Investment
Corp. is because it operates as a mortgage REIT, and therefore is capable of
providing specialized products for financing co-ops and condominiums in
metropolitan areas.

Donald Henig, executive vice president of American Home Mortgage Investment
Corp. stated,  "We are excited about partnering with Signature Bank and
offering additional value to their clients.  Mortgage Select's private label
program will provide Signature Bank's bankers with state-of-the-art processing
and support technology.  These features allow Signature Bank's private client
teams to concentrate on client relationships and sales efforts as they maintain
complete control throughout the mortgage loan process.  In addition, as a
result of our parent company's structure, we are able to offer Signature Bank a
flexible, tailored solution with a wide array of mortgage products to support
the needs of its clients in the metropolitan marketplace."

Michael Merlo, senior vice president and chief credit officer at Signature
Bank, added, "We expect this relationship to prove beneficial based on the
large volumes of loans that American Home Mortgage Investment Corp. originates.
 These benefits will be passed onto clients in the form of better pricing and
the lowest mortgage rates possible."

In addition to new loan originations from the private label agreement, Columbia
National Incorporated, another subsidiary of American Home Mortgage Investment
Corp. will assume the servicing rights of approximately $46 million in existing
loans from Signature Bank.

About American Home Mortgage

American Home Mortgage Investment Corp. (NYSE:AHM) is a mortgage real estate
investment trust focused on earning net interest income from self-originated
mortgage backed securities, and through its taxable subsidiaries, on
originating and servicing mortgage loans for institutional investors. 
Mortgages are originated through a network of 279 loan production offices as
well as through mortgage brokers and are serviced at the Company's Columbia,
Maryland servicing center.  For additional information, please visit the
Company's Web site at http://www.americanhm.com/ .

About Mortgage Select

Mortgage Select is the Internet division of American Home Mortgage Corp.
Launched in 1999, Mortgage Select continues to lead the industry in online
technology and service.  Mortgage Select acquires customers on a variable cost
model through private labeling and co-branding partnerships.  Mortgage Select
supports two call centers located on each coast and is currently ranked as one
of the top-20 Internet mortgage lenders.

About Signature Bank

Signature Bank, member FDIC, is a New York-based full-service commercial bank
with 11 offices located throughout the New York metropolitan area serving the
needs of privately owned business clients, their owners and senior managers
through dozens of private client and investment groups.  The Bank offers a wide
variety of business and personal banking products and services as well as
investment, brokerage, asset management and insurance products and services
through its subsidiary, Signature Securities Group Corporation, a licensed
broker-dealer, investment adviser, and member NASD/SIPC.

Since commencing operations in May 2001, the Bank has grown to approximately
$2.17 billion in assets, $1.74 billion in deposits, $259 million in equity
capital and approximately $854 million in other assets under management as of
March 31, 2004.

For more information, please visit http://www.signatureny.com/ .

Safe Harbor Statement under the Private Securities Litigation Reform Act of
1995: This news release contains statements about future events and
expectations, which are "forward-looking statements."  Any statement in this
release that is not a statement of historical fact, including, but not limited
to earnings guidance and forecasts, projections of financial results, and
expected future financial position, dividends and dividend plans and business
strategy, is a forward-looking statement. Such forward-looking statements
involve known and unknown risks, uncertainties and other factors, which may
cause American Home's actual results to be materially different from any future
results, performance or achievements expressed or implied by such
forward-looking statements.  Specific factors that might cause such a
difference include, but are not limited to: the potential fluctuations in
American Home's operating results; American Home's potential need for
additional capital, the direction of interest rates and their subsequent effect
on American Home's business; federal and state regulation of mortgage banking;
competition; American Home's ability to attract and retain skilled personnel;
and those risks and uncertainties discussed in filings made by American Home
with the Securities and Exchange Commission.  Such forward-looking statements
are inherently uncertain, and stockholders must recognize that actual results
may differ from expectations.  American Home does not assume any responsibility
and expressly disclaims any responsibility, to issue updates to the
forward-looking statements discussed in this press release, whether as a result
of new information, future events or otherwise. 

DATASOURCE: American Home Mortgage Investment Corp.



CONTACT:  John D. Lovallo, Senior Vice President of Ogilvy Public

Relations Worldwide, [phone], , for American

Home Mortgage Investment Corp.



Web site:  http://www.americanhm.com/

http://www.signatureny.com/ 

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