Mr. Robert Edelstein

Robert EdelsteinNational Sales Manager For Professional Intermediaries

Mr. Edelstein has been a leader in the national mortgage industry for 15 years.From 1998-March 2000, Mr. Edelstein was Vice President of H&R Block Mortgage.From 1991 - 1998, he was a co-founder and Vice President of Assurance Mortgage Corporation of America, ("AMCA").During his seven years, AMCA averaged a 41% annual growth rate, and grew to be one of the largest privately owned mortgage banking institutions in the nation.AMCA operated in 40 states and included a sub-prime wholesale division and a wholesale originator.In 1998, total originations were in excess of $2.1 billion.In 1998, AMCA was acquired by H&R Block, and Mr. Edelstein led that company's entrance into the real estate lending business.In 1997, Mr. Edelstein was named as one of the top entrepreneurs in Bankers and Tradesman for Outstanding Leaders.

Co-founder Robert Edelstein says Assurance Mortgage closed its New England wholesale division , but sold its Chicago and California-based wholesale divisions.

Edelstein attributes the decision to a renewed focus on the company's retail division.We have always been a retail shop ­ it's where our strength has been.We've had a great retail franchise in New England ­ that's what we want to focus on , and that's what we do best..

Moreover , Assurance's wholesale focus was primarily in the subprime market , Edelstein notes , adding that the concentration was definitely a factor in closing the division.The subprime market really took a beating ... when the subprime market got hit , profitability was an issue , and the margin was thin , he says.