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Technology Stocks : E Loan Inc -EELN
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To: KENNETH DOAN who wrote (141)6/30/1999 12:49:00 PM
From: stockman_scott  Read Replies (1) of 817
 
<<please visit countrywide.com. Eloan is nothing but hot air. Look at the production that countrywide is doing, and please do compare. CCR have 3 divisions: consumer, correspondent, and wholesale. Eloan is just a broker and only going directly to the consumer..>>

Kenneth: Countrywide is a very successful OFFLINE mortgage originator. They have an alliance with Intuit and service many of the mortgages that Quicken.com is able to generate. Yet, CCR does not understand the internet world like the E-Loan team. The Countrywide brand does not mean much online. E-Loan is working to build the strongest brand in the online loan arena. They are really focussed on customer service and building lasting relationships with the consumer. They also have DEEP pockets behind them and are the exclusive mortgage provider for Yahoo and E-Trade visitors. I would not under-estimate what E-Loan will accomplish in the next few years. It's all about getting BIG fast online and IMO E-Loan will become the Amazon of consumer finance in the internet world. Yet, they could achieve much better margins by the time they are in their 3rd publicly traded year. Remember, E-Loan acts as a broker for over 70 mortgage firms AND has set up their own subsidiary to go direct to the consumer and offer mortgages (this new division is currently authorized to offer loans in over 3 dozen states). The EELN team is just ramping up their marketing and business development efforts. Stop back in a few months and check on our price. I think you'll wish you had been LONG on EELN <G>.

Good Luck Investing.

Best Regards,

Scott
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