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

To: Bipin Prasad who wrote (776)	12/15/1999 2:08:00 AM
From: KENNETH DOAN	Read Replies (1) \| Respond to of 817

Countrywide Ranked Top Electronic Mortgage Lender in National Survey CALABASAS, Calif., Dec. 14 /PRNewswire/ -- Countrywide Home Loans, Inc., a national leader in residential finance, was ranked the number one electronic lender in the most recent survey published by National Mortgage News. The quarterly survey identifies the top national online lenders based on dollar volume of loan originations. Countrywide's electronic originations, which encompass both Internet and telemarketing, totaled over $1 billion for the third quarter of 1999. The survey data reflects retail originations taken from Countrywide's Home Finance Center. ``We're extremely pleased that the survey confirmed Countrywide's status as the number one electronic lender,' said Joe Anderson, Executive Vice President of Countrywide's Consumer Markets Division. ``The desire for real, quality customer service is a driving force in the evolution of e-commerce, and Countrywide's ranking is testament to the value of our service focus and capability.' Countrywide's Home Finance Center is a central component of the company's integrated Internet strategy. The center was created as a merger of Countrywide's retail Internet and telemarketing operations. The Home Finance Center provides 24/7 personalized service from highly skilled home loan specialists who have online expertise. Sophisticated technology, including computer telephony and intelligent routing, enables the center to provide highly personalized service to consumers, and electronically transfer data to Countrywide's technology-infused branch offices. The origination data from the Home Finance Center is consistent with the reporting practices of e-lenders, which almost universally utilize toll-free and telemarketing services. This survey substantiates Countrywide's success in fusing the power of online access with the strength of infrastructure. This 'clicks and bricks' integration is increasingly being recognized as the most effective in online commerce. ``Consumers want more than just 'virtual' customer service; study after study confirms that superior value and personalized service, hallmarks of the Countrywide brand, are vital to long-term success online,' Anderson explained. Countrywide recognized early that online loan shoppers value expert assistance in navigating the mortgage application and closing process. The company developed an Internet strategy to offer consumers the best of both worlds: instant access to information and streamlined Internet applications, coupled with local experts and personalized service through the company's robust local network of branches. The seamless movement from the Web to a local branch eases the process for both consumers and business partners. Morgan Stanley Dean Witter has recognized Countrywide as the ``best investable play' on the Internet. Through cutting edge technology, Countrywide.com saves consumers time and money by offering end-to-end online loan features, from application through servicing. The site boasts competitive rates for a full range of home loan products as well as access to Countrywide's state-of-the-art underwriting systems and electronic business integration systems. The site also provides clients the option of electronic payment online, the convenience of reviewing their loan status through a secure connection and the ease of electronic communication on service issues. Founded in 1969, Countrywide Credit Industries, Inc. (NYSE: CCR - news) originates, purchases, sells and services loans for single-family homes through its primary subsidiary, Countrywide Home Loans, Inc. The company is headquartered in Calabasas, California and has more than 10,000 employees with more than 550 offices across the country.