Bay Equity Home Loans Announces Acquisition of Pacific Bay Financial Mortgage Brokerage

SAN FRANCISCO, CA, Jul 20 (MARKET WIRE) --
Bay Equity Home Loans, one of the San Francisco area's most respected and
successful mortgage lending institutions, announced that Pacific Bay
Financial Corporation, the longest-standing mortgage brokerage in San
Francisco, has joined its team of retail branches.

Since its founding in 1985 by Manny & Elfa Kagan, Pacific Bay Financial
has established a solid reputation as one of the premier mortgage
companies in the Bay Area through its unwavering focus on providing the
highest quality service to its clients.

"When the mortgage industry changed, I recognized that we had to change
too in order to stay in business," said Kagan. "We interviewed five banks
looking for the right fit, but Bay Equity stood out because they were a
true mortgage bank built by talented young professionals. Joining their
team provides us the opportunity to create new, positive experiences for
customers.

"The future is very bright," added Kagan. "The housing market will turn
around very soon, and we will be able to offer products and services that
we couldn't as a mortgage broker."

"Manny Kagan is a well respected veteran in the Bay Area mortgage
business," noted Brett McGovern, President of Bay Equity. "He built his
entire business on a service oriented culture that fits well with Bay
Equity's mission to be a Premier Service Organization. Manny and his team
are a tremendous addition to our organization. He brings a wealth of
knowledge, respect, and experience to the company that will truly fuel
our growth. That is invaluable."

Bay Equity was founded in June 2007 by three brothers, Brett, Jon, and
Casey McGovern, and funded its first loan 11 months later. To date the
firm has financed more than 7,000 loans totaling more than $2 billion.
The company is headquartered in the heart of San Francisco's Financial
District, one of the very few mortgage lenders actually located in the
City by the Bay.

About Bay Equity
Bay Equity is a family-owned, full-service wholesale
and retail mortgage lending institution. The company is headquartered in
San Francisco with operations centers in San Francisco and Pleasanton,
California and more than a dozen branch offices with more than 150
employees, including 40 wholesale account executives servicing mortgage
brokers throughout the Western United States. www.bayeq.com

Contact:

Genevieve Anton
714-544-6503
ganton@antonpr.com

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