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Technology Stocks : E Loan Inc -EELN -- Ignore unavailable to you. Want to Upgrade?

To: cooksbay95 who wrote (237)	7/5/1999 3:34:00 AM
From: MENSO	Respond to of 817

eLoan sucks... A week ago I went to the eLoan site and applied for a $300,000 mortgage. A few minutes later I went to the LendingTree site and did the same. I had to provide substantial personal information in both instances, but the whole process took only 10 minutes. Literally within a few hours I received three firm loan offers from lenders associated with LendingTree (I verified they were firm offers by talking to the loan officers by phone). Two of the offers were competitive with what I'd expect to find in the local market, and the third one was actually very attractive. As for my eLoan application, well, after three days I finally received a tentative response from the company; and the loan terms offered (rate and fees) were so ludicrous and - after three days - still subject to so much verification that I would've found their response outright insulting if I was indeed shopping for a loan. The LendingTree name and Web site appearance may not be quite as attractive as eLoan's, but their business model makes far more sense in my opinion based on the quality (competitiveness and expediency) of their loan products. Try the same test if you doubt me, just be advised that both companies will run a credit check. My $0.02 for whatever it's worth...

To: cooksbay95 who wrote (237)	7/5/1999 8:38:00 AM
From: Mohan Marette	Read Replies (1) \| Respond to of 817

Cooks: Forrester Research projects the market for online mortgage originations will grow from $18.7 billion in 1999 to over $91.2 billion in 2003, representing an increase in online penetration of the existing market from 1.5% in 1999 to 9.6% in 2003. In 1998 and the first quarter of 1999, E-LOAN was the leader in the online mortgage market with approximately $1 billion and $490 million in closed loans originated, respectively, including E-LOAN's estimate of closed loan volume from referrals.