Even though this news has been out for a while IMO it is very significant....E-Loan is a clear pioneer and first mover in some major online markets.
<<E-LOAN Launches E-Track Pro
Online mortgage loan tracking system for Realtors.
Dublin, Calif. –– May 21, 1999 -E-LOAN (www.eloan.com), a leading provider of online mortgages, today launched E-Track Pro, a 24x7 service for Realtors to use to track their clients' mortgage applications in process at E-LOAN. E-Track Pro is an extension of E-LOAN's unique E-Track service, launched last July that allows customers to track their loan status online and keep in touch with their personal loan consultants. E-LOAN announced the launch of E-Track Pro at the National Association of Realtors' mid-year conference in Washington, DC, which focuses on the latest technologies available for Realtors.
E-Track Pro provides real estate agents with secure, round the clock access to the status of their clients' home loan applications with E-LOAN, including appraisal information and closing timetables. In addition, E-Track Pro allows real estate agents to print loan approval certificates for their E-LOAN customers directly from the E-LOAN web site. The new E-Track Pro service can be viewed as a demo on the Realtor Center at www.eloan.com.
"We want to make the purchase process as smooth as possible for Realtors and buyers who choose E-LOAN," said Janina Pawlowski, E-LOAN's President and co-founder. "That's why it made sense to extend the benefits of E-LOAN's existing E-Track service to the agents. The closer the real estate agent is to the center of the transaction, the smoother transactions tend to go. We believe that E-Track Pro will provide a competitive advantage for buyers in a 'sellers' environment or multiple-bid situation, by empowering their Realtors with timely information that will help them more efficiently manage the process."
Realtor Linda Clark, owner of a real estate agency in Lubbock, TX, has used E-LOAN to help her clients obtain home purchase loans. "We offer our clients access to E-LOAN's products and services on our own company's web site so clients can research and apply for loans online," said Clark. "By allowing us to keep up with the loan process along with our clients, E-Track Pro gives us another way to help them get their applications approved as quickly as possible - and get them into their homes."
About E-LOAN
E-LOAN, Inc. launched its online mortgage operations in June 1997. At www.eloan.com, borrowers can compare, apply for and obtain home loans from many nationally-recognized lenders. E-LOAN offers borrowers origination cost savings of more than 50 percent as compared to obtaining a mortgage through most traditional mortgage brokers and single-source lenders. After closing a loan, E-LOAN can, at the customer's request, continue to send customized information about new products that become available, helping consumers turn a mortgage into a working financial asset. E-LOAN has established co-branded loan centers for mortgages on many leading web sites, including Yahoo!, DLJdirect, E*Trade and CBSMarketWatch. The company's loan processing center is located in Dublin, CA. E-LOAN's investment partners include Benchmark Capital, Sequoia Capital, SOFTBANK, Technology Partners, Yahoo! and E*Trade.>>
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