E-LOAN Teams With RE/MAX to Put Online Lending Tools in the Hands of RE/MAX Top Producers Nationwide
DUBLIN, Calif.--(BUSINESS WIRE)--Jan. 25, 2000--E-LOAN, Inc. (Nasdaq: EELN) (www.eloan.com), a leading online lending company, has teamed with real estate industry leader RE/MAX International to create a comprehensive lending center for the RE/MAX website (www.remax.com) by the end of the month.
This first-ever agreement between RE/MAX and an online lender will make E-LOAN's extensive lending and financial products and tools available to RE/MAX customers and RE/MAX sales associates in the United States.
"Our sales associates are the nation's top producers, and we provide them with the very best tools and training available," said Daryl Jespersen, RE/MAX president. "As we looked to enhance our website with an online home loan service offering products from multiple lenders, E-LOAN quickly emerged as the best candidate because of its tight focus on the home purchase transaction and its special tools and services developed for both consumers and Realtors(R)."
"Our practice has always been to keep the Realtor(R) central to the home purchase transaction, which is in part why purchase loans have grown to become the majority of our mortgage business," said Joe Kennedy, E-LOAN president and chief operating officer. "Working with RE/MAX helps us increase our reach to sales associates so they can maintain their leading edge in sale production."
E-LOAN will provide extensive training to RE/MAX sales associates on how best to use the new site for the benefit of their customers. This will include a combination of training on the RE/MAX Satellite Network (RSN) to franchise offices and sessions held at the March RE/MAX International Convention in Las Vegas. Other sessions and conferences will be conducted throughout 2000.
Visitors to the RE/MAX site (www.remax.com) can receive instant quotes from E-LOAN's database of more than 70 lenders and 50,000 loan products. At the click of a button, a borrower can then compare loans and obtain recommendations to determine which loan is best and saves the most money. After selecting a loan, borrowers complete a simple application form, submit it online, and proceed through the loan process with the help of a personal Loan Consultant.
Additional site features include E-LOAN's extensive array of financial and debt management tools such as calculators to estimate tax implications and benefits of home ownership, email notification when the desired loan rate becomes available, loan recommendations that best fit a borrower's situation, customized rate quotes, and mortgage comparison features. E-LOAN's proprietary loan tracking service developed for use by Realtors(R), E-Track Pro, will also be prominently featured on the site within a dedicated Realtor(R) Center. Everything the consumer needs to choose a home, obtain a loan and make the purchase will be found on this site.
Visitors to the RE/MAX site will also have access to E-LOAN's car loan, credit cards and small business loan offerings.
About RE/MAX
The RE/MAX franchise network, now in its 27th year of consecutive growth, is a global real estate system operating in 32 countries. More than 3,400 independently owned offices engage 57,000 member sales associates who lead the industry in professional designations, experience and production while providing real estate services in residential, commercial, referral, relocation, and asset management. For more information visit www.remax.com.
About E-LOAN, Inc.
Founded in 1996, E-LOAN, Inc., a leading online lending company, offers mortgages, car loans, credit cards and small business loans. At www.eloan.com, borrowers can compare, apply for and obtain loans from many nationally recognized lenders. After closing a loan, E-LOAN, Inc., provides ongoing monitoring services, helping consumers manage their debt to lower their overall cost of capital. E-LOAN, Inc. has strategic partnerships with leading Internet companies, including Yahoo!, E*Trade, H&R Block, Wingspanbank.com, Kelley Blue Book, AutoTrader.com and Car & Driver Online. The company's loan processing center is located in Dublin, CA. E-LOAN, Inc. is publicly traded on the Nasdaq system under the symbol EELN. E-LOAN, Inc. has announced joint ventures in Japan, Australia, the United Kingdom and Europe.
The statement in this news release referring to E-LOAN's increased reach to RE/MAX sales associates is a forward looking statement that may involve a number of risk factors and uncertainties. Factors that could cause actual results to differ materially from those anticipated in this news release include the possibility that RE/MAX sales associates may not take advantage of the tools and services available on the website. Further information on potential factors that could affect E-LOAN's financial results is included in E-LOAN's form 10-Q for the quarter ended September 30, 1999 filed with the Securities and Exchange Commission. |
