updated 11/16/2010 10:46:23 AM ET 2010-11-16T15:46:23

JACKSONVILLE, Fla., Nov. 16, 2010 (GLOBE NEWSWIRE) -- Sunset Brands, Inc (Pink Sheets:SSBN) discloses today five key executives which have been placed as Executive Officers, Director and Board Members for US Financial Assets.

USFA is a Financial holdings company with multiple business lines funneling up to its management team, which now includes Cynthia J. Delaparte, named President and Chief Financial Officer, Jeffrey S. Betros as Executive Vice President and Chief Mortgage Officer and Alan Speck, Managing Director of the Residential Mortgage Division. 

As well, Bobby Walton and Walter Williams have been named as Board Members for the firm. Both are USFA outside Directors. Williams, a Real Estate Investor, also serves as Vice Chairman for USFA and Walton acts as CEO of Insuramerica, "an established firm comprised of related insurance agencies, consultants and affiliates designed to provide its local, national and international clients with a complete resource for risk transfer solutions and consulting services."

Cynthia J. Delaparte, with a BS degree in Accounting from the University of Florida, has worked in banking for nearly 25 years, managing all business lines and projects as a C-level executive and garnering recognition and accolades including her status as Business Journal's Woman of Influence in 2006. 

In addition, Cynthia served as organizing director and President of a de novo community bank in Northern Florida. She comments, "Our focus with USFA will always be maximizing returns for our shareholders. Performance counts as we lay the foundation with efficient entry pricing, expansion and service with outstanding employees while providing a public exit strategy for shareholder liquidity when the industry returns to strong multiples."

Jeffrey S. Betros, a mortgage executive with a BBA in Finance from Valdosta State University, has over 20 years experience in retail and wholesale lending. He served as Vice President of Lehman Brothers' Aurora Loan Services where he opened up the wholesale mortgage platform in the States of Georgia, Florida and Alabama, with full implementation of its sales teams, including recruiting, hiring and training. He has worked with SSBN CEO, J. Bert Watson, Sr. since 2003, in which Jeff served as Executive Vice President and CMO of NYSE's Sunset Financial Resources, Inc.

Alan Speck, a 23 year mortgage professional, serves as Managing Director of Residential Mortgage and comes to US Financial Assets in a career of Senior Executive positions in Capital Markets Operations and Mortgage Sales. Mr. Speck has been a member of a number of Residential Subcommittees which determined credit policy for all products including bank portfolio. He has managed $1 billion warehouse line to insure problem loans did not exceed 1% of volume on a monthly basis. He has held Executive Level Sales and Operations positions thereby creating a thorough understanding of the synergy needed between Capital Market Operations and the Retail Origination Sales Force to establish a "Best in Class" mortgage platform.

"Conservatism alongside attention to historical trends in these markets is key, and we have the experience and tools necessary to mitigate risk and help ensure success in all that we do," Betros and Speck state.

US Financial Assets CEO and financial industry veteran, J. Bert Watson, Sr., is confident that the company will be well served by what he believes to be a "capable, competent team with unparalleled professionalism and industry knowledge. This isn't our first rodeo, and it's the experience and wisdom that our executives bring to the table which will strategically foster success and stability for US Financial Assets and its projects, partners and shareholders. "

This press release includes forward-looking statements intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. Our forward-looking statements express our current expectations or forecasts of possible future results or events, including projections of future performance, statements of management's plans and objectives, future contracts, and forecasts of trends and other matters. Forward-looking statements speak only as of the date of this filing, and we undertake no obligation to update or revise such statements to reflect new circumstances or unanticipated events as they occur. You can identify these statements by the fact that they do not relate strictly to historic or current facts and often use words such as "anticipate," "estimate," "expect," "believe," "will likely result," "outlook," "project" and other words and expressions of similar meaning. No assurance can be given that the results in any forward-looking statements will be achieved and actual results could be affected by one or more factors, which could cause them to differ materially. For these statements, we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act.


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