To: JOHN CHEN who wrote (11163 ) 7/22/1998 7:48:00 AM From: Glenn D. Rudolph Respond to of 164684
**OT** A little off topic. Not much! E-LOAN Introduces E-TRACK 24 X 7 Customer Service for Mortgages Business Wire - July 22, 1998 05:15 %E-LOAN %CALIFORNIA %COMED %INTERACTIVE %MULTIMEDIA %INTERNET %BANKING %REAL-ESTATE %COMPUTERS %ELECTRONICS %PRODUCT V%BW P%BW PALO ALTO, Calif.--(BUSINESS WIRE)--July 22, 1998--E-LOAN (http://www.eloan.com), the leading online mortgage marketplace, today announced the addition of E-TRACK(SM), the first ever 24 hour loan tracking service, to its comprehensive suite of lending products and services. E-LOAN's unique E-TRACK technology provides borrowers with secure, anytime access to information on the status of their loan application at every stage of the process. E-LOAN is the only online multi-lender offering comprehensive and customized loan tracking to its customers. "People want to know what's going on with their mortgage from the moment they apply to the day it closes," said Janina Pawlowski, president of E-LOAN and principal architect of E-TRACK. "We designed E-TRACK to help our customers find out the status of their mortgage at any point in time, which gives them a greater level of control over a process that has traditionally been confusing and frustrating in the offline world. This is just another way E-LOAN is leveraging the Internet to revolutionize the mortgage transaction in favor of consumers." "For consumers who want to obtain a mortgage online, it's not just about saving money," said Pawlowski. "It's about value-added innovations that empower the consumer to manage an inefficient process more efficiently. E-TRACK's technology is compelling... it's a win for consumers and gives E-LOAN a major competitive advantage." E-LOAN's E-TRACK lets customers learn what's happening with their loan every step of the way -- from the beginning of the loan process to the end, without the hassle of waiting for a response from a traditional loan agent or having to call during regular business hours. With E-TRACK, customers instantly know what their application status is and whether they need to take any steps to move the process forward. Using E-TRACK, applicants can log into their password-protected individual profile to view the status of their loan and timeline for their rate, details of the product selected, and directly contact their personal E-LOAN customer service representative. Customers will instantly know pertinent information such as the date that their application was received, which additional documents are required, appraisal results and lock-in status, and anticipated closing date. E-TRACK also provides current closing cost information including the exact amount of cash needed to close the loan and specifications for impounds and mortgage insurance. E-LOAN is the exclusive mortgage services provider to loan centers on many leading web sites, including E-TRADE and Yahoo! About E-LOAN E-LOAN Inc. (http://www.eloan.com) is an online mortgage marketplace where borrowers can compare, apply for and obtain home loans from the nation's leading lenders. E-LOAN saves borrowers as much as 75% on brokerage fees through the elimination of unnecessary transaction costs. From there, E-LOAN continues to monitor the dynamic mortgage marketplace for additional savings opportunities, helping consumers turn a mortgage into a working financial asset. The company is headquartered in Palo Alto, CA, with loan processing offices in Dublin, CA. E-LOAN's investment partners include Benchmark Capital and Technology Partners. Note to Editors: E-TRACK is a registered service mark of E-LOAN Inc. CONTACT: E-LOAN Inc. Janina Pawlowski, 650/617-0403 Janina@eloan.com or Niehaus Ryan Wong Inc. Tiffany Kelley, 650/827-7079 Tiffany@nrwpr.com