NEW YORK, Nov 30, 1999 /PRNewswire via COMTEX/ -- TD Waterhouse Group,
Inc. (NYSE: TWE; Toronto: TWE), a leading online financial services
firm and the world's second-largest discount broker, today announced an
agreement with Mortgage.com, a pioneer of Web-based mortgage solutions,
that will allow TD Waterhouse customers nationwide to apply online for
a package of over 150 mortgage loans and services at very competitive
rates.
Beginning in January 2000, whether customers visit the firm's Web site
or call us on the phone, they will benefit from an easy, seven-step
approval process, and assistance from a dedicated team of mortgage
specialists. Customers also will be able to apply for pre-approval or
pre-qualification online.
The agreement also will allow TD Waterhouse to offer:
-- Access to SmartQuote -- This feature allows customers to search an
online database of loans for those that meet their specific needs.
-- Refinance Registry -- Customers can register to be notified by e-mail
or by phone when the mortgage rates reach the level they are interested
in.
-- Online Access -- Applications received during business hours will be
acknowledged with a telephone call within one hour. Online applicants
will also be able to check the status of a loan application online.
-- Interactive calculators that can help customers determine:
-- How much can I afford to spend on a house?
-- How much can I save by refinancing?
-- How to evaluate if points should be paid to lower a rate.
-- How to assess closing costs.
-- Access to a library of real estate questions and answers, including
topics such as understanding the loan process, mortgage insurance,
qualifying, closing costs, taxation, consumer reporting, and
refinancing.
"The agreement with Mortgage.com allows us to offer customers a home
financing experience that is informative, fast and easy," said Frank
Petrilli, President and Chief Operating Officer of TD Waterhouse. "In
addition, we are confident that TD Waterhouse customers will receive
the high-quality customer service they've come to expect from us."
"This alliance allows us to bring our Internet mortgage technology and
expertise right to the TD Waterhouse Web site," said Seth Werner,
Mortgage.com Chairman, President and CEO. "As a result, the TD
Waterhouse customer will be able to apply for a mortgage right from his
or her computer and receive same-day loan approval at low rates. We
look forward to our alliance with one of the world's leading financial
services companies and the opportunity to offer our products to a new
set of customers."
TD Waterhouse offers customers a full range of electronic banking
services including: an interest-bearing checking account; electronic
bill payment via the Internet and telephone; a credit card with no
annual fee and a 1% cash rebate; ATM Check Card (bank ATM fees are
reimbursed up to $3 per month); certificates of deposit; and home
equity lines of credit. TD Waterhouse webBanking gives customers the
ability to review bank, loan or credit card account activity, schedule
payments, electronically transfer funds between TD Waterhouse bank and
brokerage accounts, and balance their checkbook 24 hours-a-day, 7 days
a week.
In the United States, TD Waterhouse services over 2 million customer
accounts. TD Waterhouse also serves customers in Canada, Australia,
Hong Kong, and the United Kingdom. The firm also has plans to expand
into Japan and continental Europe.
TD Waterhouse provides investors with a broad range of brokerage,
mutual fund, banking and other consumer financial products on an
integrated basis. In the United States, brokerage services are provided
by TD Waterhouse Investor Services, Inc., (Member NYSE/SIPC) and
banking services are provided by TD Waterhouse Bank., N.A., (Member
FDIC). TD Waterhouse can be found on the Internet at
tdwaterhouse.com and on America Online at AOL Keyword: TD
Waterhouse.
Mortgage.com (Nasdaq: MDCM) (formerly First Mortgage Network), which
was founded in 1994 and is based in Plantation, Florida, is a pioneer
in on-line mortgage banking and consumer direct mortgage lending. As
both a technology provider and mortgage provider, Mortgage.com is
responsible for over $3 billion in loans annually, originating and
closing 3,592 loans, with a total principal amount of $687 million in
the third quarter of 1999 alone. Mortgage.com is dedicated to reducing
the cost of mortgage origination and funding by supplying home
builders, Realtors and financial institutions with point-of-sale and
Internet technology, business management, loan processing, and call
center and mortgage funding capabilities. Mortgage.com is publicly
traded on the Nasdaq system under the symbol MDCM. |
