COLUMBUS, OH – October 8, 2008 – Residential Finance Corporation (RFC), a nationwide home mortgage lender, is pleased to announce the appointment of Obiora Egbuna as vice president of sales. Egbuna will lead development of the mortgage lender’s production team by 300-percent, from 150 to 550 through a planned 3-year expansion strategy.

Residential Finance Corp. President, Michael Isaacs, said, “RFC is pleased to appoint Obi Egbuna to lead the planned expansion of our sales team. Obi’s proven track record in successfully leading a national expansion of a similar scope—increasing sales from 130 to 550 loan officers, and boosting monthly production from $12 million to more than $200 million—uniquely qualify him to guide Residential Finance through the challenges of rapid growth while maintaining our commitment to excellence in customer service. His passion and skill for encouraging people to achieve their full potential complements our values and vision here at Residential Finance. These capabilities make Obi Egbuna the ideal leader to guide and develop our growing team of loan officers and managers.”

Commenting on his appointment, Obi Egbuna said, “I am very impressed with RFC’s commitment to developing people and dedication to encouraging loan officers to find the mortgage loan that best fits each borrower’s needs. They provide extensive, high quality training and marketing support, and maintain an optimal sales-to-management ratio. RFC appreciates its employees, and there is an element of fun and an atmosphere of encouragement throughout the company. I look forward to carrying these company values forward to guide RFC’s growing staff to consistently perform at their highest levels.”

Prior to joining RFC, Egbuna was senior vice president of sales and served as co-head of retail franchise for Delta Funding Corporation D/B/A Fidelity Mortgage. Earlier, Egbuna served as product development and marketing manager for Bell Atlantic, and as sales manager for Time Life Libraries. He enjoys spending time with his family, public speaking and sports. Egbuna holds a degree in civil engineering from New England College.

About Residential Finance Corp.
 
Residential Finance Corporation (RFC) is the nation's premier home mortgage company specializing in refinance. Founded in 1997 and now serving 26 states, RFC is "Full Eagle" certified by the FHA, offering refinancing borrowers the security and great rates of government-insured home mortgage loans. RFC's investor relationships include some of the nation's largest and most diverse investment banks. From headquarters in Columbus, OH and numerous regional offices, RFC employs hundreds of knowledgeable Home Loan Consultants dedicated to helping consumers find the right home mortgage loan--with the best mortgage rates, terms and costs--to meet each homeowner's unique needs, including individuals with less-than-perfect credit, and those who may have been turned down by other lenders.
 
For more information, contact Residential Finance Corporation, at 800-930-7334.