This is OLD, but reiterates FNHC's BUSINESS PLAN GOALS
I also think that we should NOT get ANY hopes of an AOL deal it is MOST LIKELY NOT going to happen, but their is Plent of Prime Real Estate out there. What I am hoping is that with the NBC/Zoom deal, NBC will promote ZOOM/NBC INTERNET on National TV, and tere is FNHC as clear as can be, lets hope!
Finet to find portal?
Company talking to aggregators
Friday, April 23, 1999
Inman News Features
According to reports, Finet Holdings Corp. is close
to a Web portal deal for its Finet.com mortgage
site.
This past week, StreetQ reported Finet was in
talks with Internet giant AOL regarding a portal
arrangement.
In a recent interview with Radio Wall Street, Finet
President L. Daniel Rawitch would not confirm
rumors about any portal deals, but did say that
the company is out talking to Web traffic
aggregators.
"Isn't it logical that we would be out talking to
everybody that you can possibly think we should
be talking to, to drive traffic to our various sites?"
Rawitch said. "Common sense would dictate that
we're talking to the right people everyday."
Portal space is much desired in the online realty
category, as Web directories such as Yahoo!,
Excite and AOL attract millions of Web surfers
every day.
Finet, which is restructuring itself as an online
mortgage bank, does not currently have exclusive
arrangements with any top portal sites, so a deal
would provide significant exposure.
Earlier this year, Finet announced an e-commerce
strategy with the goal of making the company the
"America's leading electronic mortgage bank." In
the past several months, the company has
integrated its Web services iQualify.com,
Interloan.com and debuted a new Web site and
hired mortgage industry veteran Mark Korell as
CEO. (Mark Korell was ex-CEO of NORWEST
Stock shares for Finet (FNHC) jumped into double
digits last week to more than $15, several times
its price last November. The company's stock has
since calmed down a bit to between $9 21/32 by
closing on Friday.
Some observers are also expecting Finet stock to
benefit from the pending public offering of
E-LOAN, generally seen as the leader in the online
mortgage industry.
Finet Holdings Corp. was founded in 1989 by the
merger of three mortgage companies and now
provides end-to-end mortgage service for
originations and fulfillment.
***
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