PAIR and FNHC should bounce today for the following reasons:
PAIR presents at Nationsbanc Montgomery (NBMO) Technology 1999 - Ritz Carlton, San Francisco Feb 1-4 - PAIR presents Wed at 10:45am:
FNHC: CS Boston Internet Analyst commented that e-brokers will build synergies and become e-mortgagers to further continue their growth. Favorable press and impressive volume will lead to a fair valuation.
On-line mortgage sites generated more than $800 million a month in mortgage originations by year-end 1998--10 times the amount at the beginning of the year, according to a report by Deutsche Bank analyst James Marks. He predicts on-line mortgages will surge to about 25%, or $250 billion, of the overall mortgage market within five years. However, James Punishill of Forrester Research disagrees with this projection. He says refinancings are largely driving on-line mortgage growth. Punishill expects on-line mortgage origination to hit 10% of the market, or $91 billion, by 2003, as refinancings slow (CBS MarketWatch Feb. 1)
"California's Bay Area FINET mortgage bank runs Interloan and iQualify, and both are prominent in the business he said." "http://cbs.marketwatch.com/archive/19990201/news/current/mortgage.htx?source=blq/yhoo&dist=yhoo
Finet FNHC internet products include iQualify iqualify.com , a consumer-centric Internet service anyone can input a mortgage loan application through Fannie Mae's automated underwriting system and, within minutes, receive an approval and an indication of additional requirements for closing. Users can then immediately connect with Finet's call center or contact other participating Fannie Mae lenders to obtain the loan.: Interloan interloan.com ,an online home financing services site: and the Property Transaction Network (PTN) Connector, a customized transaction management software for Realtors®. Finet's offers its automated financing solutions to consumers directly through its retail service centers and indirectly through E-commerce enabled mortgage brokers. finet.com
FNHC partners include Infoseek , Imall and Homeseekers.com among others.http://biz.yahoo.com/prnews/981203/ca_finet_m_1.html And in an intriguing twist on the internet auction/Priceline commerce strategy FNHC has partnered with MortgageAuction.com mortgageauction.com
FNHC trading low end- near 1,worth watching
The economy has rebounded following last year's financial market turmoil and 1999 will see continued growth and low inflation, says John Auten, director of the Treasury Department's office of macroeconomic analysis. Inflation in 1998, as tracked by the GDP price deflator, was the lowest in four decades. With 64% of the population working and high capital gains growth due to the stock market, the Treasury Department continues to see revenues surge (BLOOMBERG NEWS Feb. 2)
|
