FNHC/E-LOAN IPO: FNHC/XOOM deal announced this am:
Finet Announces Agreement with XOOM.com
Finet Sponsors Home Financing Services to XOOM.com's More Than 7.5 Million Members
WALNUT CREEK, Calif., May 13 /PRNewswire/ -- Finet Holdings Corporation (Nasdaq: FNHC - news), owner and operator of FiNet.com, ''America's Home Finance Network,'' today announced a marketing alliance with XOOM.com, Inc. (Nasdaq: XMCM - news), a leading Internet-based direct e-commerce company. The agreement will provide XOOM.com members and visitors with a fast, easy and secure way of obtaining on-line mortgages.
Finet will be the exclusive home mortgage sponsor on the XOOM.com Commerce Navigator Bar and will have multiple links on the site for members looking for home financing information. Consumers will have direct access to Finet's Interloan.com by clicking on the ''Mortgages'' button on the front page of XOOM.com. XOOM.com will also create a co-branded storefront in the shopping guide section with integrated content from Finet where members can apply and pre-qualify for a loan, re-finance an existing mortgage, shop rates, and obtain other valuable loan and mortgage information.
''We're focused on continuing to offer new and valuable services to our members,'' said Scott Duffy, VP of Sales & Sponsorship at XOOM.com. ''Finet's dedication to simplifying the mortgage process via the use of the Internet is on target with our goal. Fast, easy and secure online mortgage services will be a great benefit to our members.''
''With more than 7.5 million registered members, XOOM.com is an ideal location for us to make our mortgage services available to consumers,'' said Mark Korell, Chairman & CEO of Finet. ''Having focused since day one on e-commerce, XOOM.com attracts a type of Internet user that is accustomed to conducting transactions online which is an audience we're very interested in reaching.''
About Finet
Finet Holdings Corporation, including its wholly owned subsidiaries (the ''Company''), operator of FiNet.com, ''America's Home Finance Network'' is a leading edge provider of e-commerce home financing services that facilitates home ownership through a variety of technology-based products and automated services for consumers and real estate service providers. The Company offers automated financing solutions to electronically enabled mortgage brokers through Monument Mortgage and consumers directly through its Internet sites: interloan.com, an on-line home financing site; and iqualify.com, a Smithsonian Award-winning on-line automated consumer loan analysis service with access to multiple lenders. Internet distribution channels include Internet financial sites, Internet home listing sites, financial lead aggregators and local and national Internet portals.
Safe Harbor
Certain statements in this press release, including statements regarding the anticipated development and expansion of the Company's business, and the intent, belief or current expectations of the Company, its directors or its officers, are ''forward-looking'' statements (as such term is defined in the Private Securities Litigation Reform Act of 1995). Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements.
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