Wednesday March 15, 8:03 am Eastern Time
Company Press Release
SOURCE: LION Inc.
New ASP Initiative Expands LION's Leadership in the Online Mortgage
Industry
Lioninc.com to Provide Lenders With Custom-Made Internet Office Solutions
SEATTLE, March 15 /PRNewswire/ -- Lioninc.com, a wholly owned subsidiary of LION Inc. (OTC Bulletin Board: LINC - news), today announced the
launching of its Application Service Provider (ASP) initiative. The move enhances the company's strong web-based mortgage products and services. It also
maximizes Lioninc.com's strengths, positioning the company to address growing trends in the lending industry.
Beginning in April, Lioninc.com's lender services division will deliver E-commerce solutions to the lending industry by providing custom-made Internet branch
offices(TM). The new service and software applications will enable mortgage lenders to conduct online business by offering features such as product and pricing
engines, real-time rate locking capabilities, loan applications with Loan Origination Software (LOS) integration, an Automated Underwriting portal and loan status
monitoring. Besides designing the web site and its software applications, Lioninc.com also will maintain the lender's Internet branch office(TM). This will enable the
lender to have the flexibility needed to keep their web site on the cutting edge of the E-mortgage marketplace.
In addition to the technical aspects, the lender services division will provide the lending industry with strong Internet traffic-generation strategies and direct marketing
across Lioninc.com's network of web sites. With more than 5,500 member brokers, the largest audience of its kind on the Internet, this service's marketing solutions
offer an unparalleled competitive edge.
``This ASP initiative is an exciting and natural move for our company,' said Sam Ringer, president of Lioninc.com. ``With our Internet experience and pre-existing
infrastructure featuring thousands of mortgage brokers and hundreds of lenders, this new service will position Lioninc.com as a leading ASP in a growing segment of
the mortgage industry.'
According to Morgan Stanley Dean Witter's 1999 Internet Mortgage Report, online mortgage originations are expected to account for at least 10 percent of total
originations by 2003. To address the growing E-mortgage market, lenders are looking to obtain online loan-pipeline solutions through acquisitions, partnerships or an
ASP provider.
Based on these trends, as well as Lioninc.com's experience and strengths, this initiative positions the company to compliment lenders' Internet growth strategies.
Lioninc.com, through its other services, already has strong relationships with more than 450 lenders. It also has developed 24 of the top 25 wholesale lenders' web
sites and hosts 60 of the top 200.
In addition, Lioninc.com has a large audience of mortgage brokers in which to market lender Internet branch offices(TM). These brokers receive business leads from
Lioninc.com through its consumer sites, Mortgage101.com and AMO-mortgage.com. With more than 600,000 unique visitors per month, the company's consumer
web sites are among the most visited web sites in the mortgage industry and provide strong avenues for lead generation. ``As a natural fit with our company's
business model, the ASP initiative will provide a tremendous value to not only lenders, but consumers and brokers as well,' said Ringer. ``It also will reinforce our
positions as a leading provider of online products and services for the mortgage industry.'
About Lioninc.com
Lioninc.com is a pioneer provider of online business-to-business products and services since 1995. It has emerged as the premier provider of cutting-edge Internet
products for the over $1 trillion mortgage industry. Lioninc.com brings together borrowers, real estate companies, mortgage brokers, mortgage lenders and financial
institutions in order to facilitate home loans in an easy, efficient and quick manner.
Lioninc.com's headquarters is located at 2201 Lind Ave. SW, Renton, WA 98055. Telephone: 800-546-6463. Fax: 425-902-4141. For more information, 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.
Actual results will vary because of factors such as: mortgage market trends, interest rate changes, housing/consumer trends effecting home purchases, internet
competition, risks of system interruption, management of potential growth, risks of new business areas, new internet technology, joint-marketing and sales
agreements, strategic alliances and other issues discussed in the company's Form 10-K and 10-Q reports which are on file with the Securities and Exchange
Commission. |
