Affinity Corp. and LION Inc. Enter Strategic Partnership
/FROM PR NEWSWIRE SAN FRANCISCO 415-543-7800/
TO BUSINESS AND TECHNOLOGY EDITORS:
Affinity Corp. and LION Inc. Enter Strategic Partnership
Move Promotes Universal National Standard for Broker Approval
WEST HILLS, Calif. and SEATTLE, Jan. 19 /PRNewswire/ -- Affinity
Corporation and LION Inc. (OTC Bulletin Board: LINC), the parent company of
Lioninc.com, are bringing the mortgage industry a step closer to a universal
national standard for broker approval by wholesale lenders. The two
companies, both leaders in their respective industries, announced today a
strategic partnership to facilitate online broker certification services for
the mortgage industry.
In forming this partnership, both companies will enhance each other's
products. Lioninc.com will add Affinity's Third Party Originator (TPO)
Certification Program to its web site (www.lioninc.com). This online tool
will provide LION's member brokers with an efficient and economical means to
become approved by lenders. Brokers will be able to download and fill out the
TPO Certification Application, attach documents and submit it to Affinity with
a one-time enrollment fee.
Affinity will review the file, pull the credit report, certify the package
as complete and assign the broker a universal nine-digit number (U-9).
Lioninc.com's web site will feature Affinity's U-9 numbering system. Brokers
will be able to submit the U-9 number to Lioninc.com's lenders without having
to include lengthy applications with loan originations. U-9 numbers also can
be provided instead of having to fill out annual lender update forms.
"This partnership will be of tremendous benefit to our member brokers and
lenders," said David Stedman, Lioninc.com's COO. "It will further diversify
Lioninc.com's services by providing our brokers with a standardized approval
process and our lenders with cost reductions associated with approving and
managing mortgage brokers."
Affinity will add Lioninc.com's URL to its EnGarde(TM) software browser.
EnGarde(TM) users will have the ability to access Lioninc.com without leaving
the program.
"The online union of Affinity and Lioninc.com will help streamline the
broker approval and loan origination process by dramatically reducing time and
paperwork for both lenders and brokers," said Richard Ward, President of
Affinity Corporation.
In addition to adding features to each other's products, Affinity and LION
will conduct joint marketing, research and training activities to support the
product tie-ins and link to each other's web site.
About Affinity Corporation
Affinity Corporation is the industry's leading provider of mortgage fraud
prevention, broker management and electronic loan review services. Its
Advisory Board includes executives of secondary market investors, major
mortgage lenders, mortgage insurance companies and quality control
specialists.
Affinity Corporation is headquartered at 6700 Fallbrook Ave., West Hills,
CA 91307. For more information, telephone toll-free at 800-333-4510 or visit
the web site at www.teamaffinity.com.
About Lioninc.com
Lioninc.com is a pioneer provider of online business-to-business products
and services since 1995. It has emerged as the premier provider of
cutting-edge Internet products for the over $1 trillion mortgage industry.
Lioninc.com brings together borrowers, real estate companies, mortgage
brokers, mortgage lenders and financial institutions in order to facilitate
home loans in a quick, easy and efficient manner.
Lioninc.com's headquarters is located at 2201 Lind Ave. SW, Renton, WA
98055. Telephone: 800-546-6463. Fax: 425-902-4141. For more information,
visit the company web sites at www.lioninc.com and www.lionchoice.com. For
more information on LION, Inc. (formerly Plenum Communications) visit
www.lioncorp.net.
Actual results will vary because of factors such as: mortgage market
trends, interest rate changes, housing/consumer trends effecting home
purchases, internet competition, risks of system interruption, management of
potential growth, risks of new business areas, new internet technology,
joint-marketing and sales agreements, strategic alliances and other issues
discussed in the company's Form 10-K and 10-Q reports which are on file with
the Securities and Exchange Commission.
SOURCE LION Inc.
/CONTACT: Tim Bader, PR Manager of Lioninc.com, 800-546-6463,
ortbader@lioninc.com; or David J. Kuff of Affinity Corporation, 323-651-5100,
ordkuff@wilshiremarketing.com/
/Web site: teamaffinity.com
/Web site: lioninc.com
/Web site: lionchoice.com
/Web site: lioncorp.net
Jan-19-2000 08:17 GMT
Symbols:
US;LINC
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