Tuesday February 16, 10:56 am Eastern Time
Company Press Release
First Americans Mortgage Corp. to Enter Internet
Loan Origination Market
LENEXA, Kan.--(BUSINESS WIRE)--Feb. 16, 1999--Dustan R. Shepherd, president of First Americans Mortgage Corp. (FAMC), a subsidiary of AmeriResource Technologies Inc. (OTC BB:ARET) announced Tuesday that the company has narrowed the field of Internet Loan Origination software providers to two.
Through the use of Internet loan origination the company hopes to reach both on and off reservation Native American home buyers in a cost effective and expedient manner. The company projects that a final contract can be consummated within the next 10 business days with website development to start immediately upon signing.
Through a loan origination webpage and an interactive video conferencing software FAMC could originate home loans from any location in the United States to their corporate office in Kansas. Potential customers can log-on and prequalify for various loan products, make loan application, learn more about the corporation and find links to other Indian Country websites.
Shepherd stated: ''Management has spent a great deal of time researching and reviewing origination website providers in order to identify the best possible partner. The Internet is revolutionizing the way the mortgage industry does business and FAMC looks forward to becoming the first mortgage company to utilize this tool to reach Native American home buyers.''
The release may contain forward looking statements that involve risk and uncertainties, including without limitations, continued acceptance of the company's products and services, increased levels of competition, new products and technological changes.
The company's dependency on financing third party suppliers and intellectual property rights, and other risks detailed from time-to-time in the company's federal filings, annual reports, offering memorandums or prospectus.
Contact:
First Americans Mortgage Corp., Lenexa
Dustan R. Shepherd
Telephone: 913/859-9505
Fax: 913/859-9520 |
