PSM Holdings, Inc. (PSMH) Executes Memorandum of Understanding (MOU) Referencing the Planned Execution of a Merger Agreement

PSM Holdings, Inc. executes memorandum of understanding (MOU) referencing the planned execution of a merger agreement. This agreement would combine two outstanding financial services companies bringing PSMH to a highly sought after, financially strong and efficient company.

“PSMH anticipates an acquisition of Complete Financial Services, Inc. (CFSI) which, combined with its already wholly owned PrimeSource Mortgage, Inc. (PSMI), would bring a total combined 122 offices in approximately 30 states and allow for the company to be more competitive in the participation of the U.S. Government ‘Bail-out’ program,” said Jeff Smith, President of PSM Holdings.

CFSU provides many different financial services including title and escrow services, a complete mortgage processing organization, as well as nearly 100 mortgage origination offices throughout the country, which will allow for significant savings to its client base by offering “one-stop” shopping.

Neither company, CFSI or PSMI, was affected by the highly publicized sub-prime lending debacle. Each was fortunate to not have any bad loan assets on their books. This again, allows for the combined new entity to surface in a clean, strong fashion positioned moving strongly, and profitably into the future.

PSMH was successful in negotiating a national marketing campaign to promote this new combined company effort to be kicked off in Tampa at the Super Bowl in late January.

PSMH has made application, and is presently in the “comment period” with the SEC to become a fully-reporting company listed on the bulletin board. This bold move only goes to the long-term vision of this company and the positive direction management has chosen to take this company.

“We are excited about the many possibilities with regards to this potential merger. Many impending strategies including opening doors to the licensing in all 50 states are already being pursued,” said Ron Hanna, PSMH Chairman of the Board.

“Our new team and direction will be aggressive, and yet most prudent. We will reach out and bring in independent brokers and other smaller companies under our umbrella to continue to strengthen our company,” Hanna added.

“This is only the first step of many positive ones to come for these companies. We anticipate more news in the coming days ahead,” Hanna concluded.

For more information about PSMH, go to its Web site at www.PSMHoldings.com.

For local information call Jeff Smith, President & CEO at 575-624-4170 or jeff@wewalkyouhome.com