SEATTLE, April 5 /PRNewswire/ -- Lenders Interactive Online Network
(LION), a Web portal for mortgage professionals announced today that
they achieved new records in three key areas during the month of March.
LION is a wholly owned subsidiary of Plenum Communications, Inc. (OTC
Bulletin Board: PLNM).
Sam Ringer, newly appointed President and CEO, said, "LION established
three new records in March. Almost 1,200 mortgage brokers registered
at our Web site versus the previous record of just under 1,000 in
February. So far, of those that have been given a tour, over 500 have
joined as new members. These two new monthly records indicate the
rapidly growing interest from the mortgage broker community in LION's
services."
Mr. Ringer continued, "We anticipate that new records in broker
registrations and in new member sales will continue. In March we
started a new advertising campaign in major mortgage industry trade
publications and a new nationwide direct mail campaign. These two
marketing programs will further increase broker interest in our
service. Futhermore, LION will get increased market exposure from
Calyx Software, a LION Partner for Progress member. Calyx has just
begun shipping POINT(TM) 3.5 for Windows that includes an interface
that allows POINT users to access LION's wholesale mortgage program
rate and fee database through a link built into POINT for Windows
software. This will expose LION's Web portal to the 14,000+ companies
representing 70,000+ mortgage originators using Calyx's software.
In addition, several new services, currently under development, will be
introduced over the next several months. These new services will
significantly increase the value of a LION membership to mortgage
brokers and further reinforce our objective of becoming "The Essential
Internet Tool for today's Mortgage Originator."
Mr. Ringer added, "Our third record was that 2,300 Loan~Links,
representing over $440 million, were submitted by our mortgage broker
members to sub-prime lenders in March. This represents an 11% jump
over February's record month. Usage of our new 2.5 version of LION
Loan~Link(TM) continues to set new records each month."
LION operates a wholesale mortgage industry Internet portal used by
wholesale lenders to provide daily product and rate information to
thousands of subscribing mortgage brokers. LION is the pioneer and
dominant portal for allowing wholesale lenders and mortgage brokers to
use the Internet to serve their clients better.
About LION
LION's online service provides wholesale mortgage rate, fee and
program information daily through a password protected,
subscription-based Web portal, www.lioninc.com. LION operates
nationally, maintaining 26 separate databases with program and rate
information organized regionally to account for variations around the
country. Originators enter information in LION Loan Search(TM) about
the loan they are seeking and quickly get the programs that meet the
needs of their client. More than 400 wholesale mortgage lenders and
4500 mortgage brokers participate in the service. The LION databases
contain over 11 million loan pricing variances and over 11,000
wholesale lender programs.
Other LION services includes LION Loan~Link(TM), which allows subprime
loan proposals to be electronically submitted directly to the lenders,
LION News Now(TM), a twice daily market commentary written for mortgage
professionals, and LION Ratesheets on Demand(TM), which allows
wholesale lenders ratesheets to be sent to members by E-mail or Fax.
LION is also a leading developer of Web sites for wholesale lenders and
mortgage brokers. LION ranks first in the nation with wholesale lender
Web sites and third with mortgage broker Web sites.
For more information on LION, visit the company's Web site at
www.lioninc.com. For more information on Plenum Communications Inc.,
visit www.plenum.net.
NOTE: LION Loan~Link and LION Loan Search are trademarked services of
Lenders Interactive Online Network (LION).
SOURCE Lenders Interactive Online Network (LION)
-0- 04/05/99 /CONTACT: Sam Ringer of LION,
800-546-6463, or sringer@lioninc.com; or David Charnock, Investor
Relations of Plenum Communications, 888-541-5466, or
dcharnock@lioninc.com/
/Web site: plenum.net (PLNM)
CO: Lenders Interactive Online Network (LION); Plenum
Communications, Inc. ST: Washington IN: FIN MLM SU:
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