MIAMI, FL--(Marketwired - May 20, 2013) - Omega Commercial Finance Corporation (
In conjunction with supporting our lending operations and as previously announced in Q1 of 2013, OCFN has acquired minority stake in VFG Securities & VFG Advisors to function as their in-house capitalization and financial arm. Management plans to take 100% ownership once the application with FIRNA, which was filed in March of 2013, is approved. More importantly, these successfully implemented strategies enables the DPO structure to take full traction and create the Niche Lending Strategy that is focused on a sector of the commercial real estate financing market where large lending and banking institutions have left vulnerable. This sector is "Small Balance Loans" ranging from $250,000 to $500,000. Therefore, Omega intends to specifically target this opportunity by focusing on retail and multifamily property-types, which from a fundamental standpoint has fully recovered. Collectively with the DPO capital and the financial arm support of VFG, OCFN will have a distinctive advantage over its competition in placing these particular loan sizes and in turn create the ability to garner vast market share quickly to sustained viable long-term growth for OCFN's shareholders. This idea was fully vetted by Management through direct communication with successful established CRE mortgage bankers, small community bankers, commercial real estate professional sales-forces, and conduit lenders currently active in the CRE market. These groups have highly recommended this approach due in part to having large pipelines of lending opportunities they need to place and represent an under serviced sector of this market.
Jon Cummings IV, President of OCFN, commented, "We are very excited over the opportunity to implement a type of strategy that allows the company a means to generate 'cash' with equity sales therefore creating wider profit margins as an alternative to a debt laden structure that applies interest carrying cost resulting in a more constricted profit margin. Plus, this puts the ability to access capital back into my company's hands, which contributes to my lending operations."
About Us:
Omega Commercial Finance Corp is a publicly traded financial services holding company with up to $150-million in assets under management through its interest in VFG Securities and VFG Advisors with our principal companies operating in the commercial real estate, finance, capital markets sector. As a holding company, OCFN together along with its subsidiaries' management teams have a combined 50 years of experience and knowledge across these business lines.
Safe Harbor
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements include all statements that are not statements of historical fact regarding the intent, belief or current expectations of Omega Commercial Finance Corp., its directors or its officers with respect to, among other things: (i) our expectations regarding revenues and earnings; (ii) our growth strategy and operating strategy; and (iii) our ability to attract new registered representatives. The words "may," "would," "will," "expect," "estimate," "can," "believe," "potential," "project" and similar expressions are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties and that actual results may differ materially from those projected in the forward-looking statements.
A.S. Austin Company, Inc 1-858-537-7439 OCFN@asaustinco.com
