LIONINC.COM Completes Internet Path From Consumer to Automated Underwriting (AU)
LION Introduces New Secure Application and 1003 Manager Interface For Mortgage101.com Web Site Designs
Denver, CO - Lioninc.com, a wholly owned subsidiary of LION, Inc. (OTC BB: LINC), the leading provider of Internet solutions for the mortgage industry, announces the introduction of a secure mortgage application and online 1003 manager interface to its Mortgage101.com product line.
This development enables mortgage companies, on behalf of their customers, to seamlessly submit mortgage loan applications for automated underwriting via the Internet. This development moves the mortgage industry one step closer to true point of sale underwriting which will ultimately simplify and shorten the process of securing a mortgage loan.
LIONChoice.com, a division of Lioninc.com, will offer this new application format to its existing web site clients and will integrate this feature into its new web site designs. LIONChoice.com will also incorporate this new feature into its Mortgage101.com Affiliate Program, which enables companies to add this application, mortgage calculators and extensive real estate information to existing web sites. "As with the current Quick App, this secure Internet loan application is intuitive, easy to understand, allows for quick data entry, and integrates with popular loan origination software. The application interfaces directly with LION's 1003 Manager, enabling mortgage companies to view and edit application information, order credit reports and appraisals, and submit for approval to Fannie Mae's automated underwriting engine through LION-AU," states Chuck Aikens, General Manager of LIONChoice.com.
"This is just the kind of Internet solution that mortgage brokers are looking for, the application gives me an easy way to import data into my origination software and provides a quick and reliable method for submitting the loan through my wholesaler to Fannie Mae for approval. It's an exciting development," declares Randy Gray, Executive Vice President of Best Rate Solutions, Inc.
About Lioninc.com
Lioninc.com is using the fastest-growing information channel ever developed-the Internet-to bring together households, real estate companies, mortgage brokers, mortgage lenders, and financial institutions so that each group's financial needs can be met quickly, easily and efficiently. With offices in Seattle, Spokane and Denver, LION provides the mortgage industry with several product lines.
LION Pro membership provides ``wholesale' mortgage rate, fee and program information, updated daily, to mortgage brokers for a monthly fee. Lioninc.com provides the most extensive mortgage database on the Internet, which is subdivided into 32 separate geographic locations. Pricing specific to 75 metropolitan statistical areas is underway. LION delivers this information in seconds via the Internet to subscribing brokers through Lioninc.com's password protected, subscription-based web site. Lioninc.com provides information on 11,000+ wholesale lender programs, which represents approximately 11 million loan alternatives for the broker. Mortgage brokers can instantly find loans that meet the needs of their client by entering information in LION Loan Search?. More than 450 wholesale mortgage lenders and over 5,000 mortgage brokers participate in the service.
LIONChoice.com provides the mortgage community with web site design and site enhancement through the Mortgage 101 Site Program. Mortgage 101 and LION Choice web site designs include a host of mortgage calculators, 160+ pages of informative content, pre-qualification tools, and secure applications that integrate with popular loan origination software. LION Choice also hosts two consumer portals, America Mortgage Online (www.amo-mortgage.com) and Mortgage 101 (www.mortgage101.com), where mortgage companies can advertise their rates to over 600,000 unique visitors per month.
Lioninc.com is headquartered at 2201 Lind Avenue, Renton, WA 98055. Telephone: 800-546-6463. Fax: 425-902-4141. The LION Choice office is located at 2828 Speer Blvd., #210, Denver, CO 80211. Telephone: 800-786-8083. Fax: 303-455-4100. For more information on Lioninc.com, 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. |
