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), owner and operator of FiNet.com, "America's Home Finance
Network," today announced a marketing alliance with XOOM.com, Inc.
(Nasdaq: XMCM), 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.
SOURCE Finet Holdings Corporation
-0- 05/13/99
/CONTACT: Dan Rawitch of Finet Holdings Corporation, 925-906-5874, or
dan@theptn.com; Kevin Theiss of Rubenstein Investor Relations, 212-843-8096,
or ktheis@rir1.com, or Catherine Carbonaro of Rubenstein & Assoc., Inc.,
212-843-8035, or ccarbo@rubenstein.com, both for Finet Holdings Corporation/
/Web site: finet.com
(FNHC XMCM)
CO: Finet Holdings Corporation; XOOM.com, Inc.
ST: California
IN: FIN MLM
SU: JVN
EG-GW
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