Nice PR from FNHC just released at 11:47:
Finet Launches Finet.com: 'America's
Home Finance Network'
New Online Resource Combines Award-Winning Origination Technology
with Comprehensive Mortgage Services for Faster, Easier, Lower-Cost
Homeownership
WALNUT CREEK, Calif. Feb. 12 /PRNewswire/ -- Finet Holdings Corporation (Nasdaq: FNHC
- news), today unveiled FiNet.com: America's Home Finance Network, featuring the Smithsonian
Award-winning mortgage service, www.iQualify.com and www.interloan.com. FiNet.com marks the
culmination of several years of strategic planning and technology innovation, bringing under one
brand an impressive array of mortgage services for home buyers, mortgage brokers and lenders.
''Finet has acquired and developed some of the industry's leading online mortgage services, and now
we are proud to bring them together as one of the Internet's most comprehensive home finance
networks under the FiNet.com brand,'' said Dan Rawitch, President of Finet Holdings. ''By
integrating iQualify and Interloan with Finet's Monument Mortgage and Coastal Federal Mortgage,
FiNet.com can take consumers and mortgage professionals through the entire mortgage process,
from origination to fulfillment. FiNet.com, benefits consumers by providing a faster, flexible, more
complete online mortgage solution, avoiding the frustration, delays and cost of the traditional
mortgage process. Lenders find a new source for leads and an interactive resource for educating the
first-time buyer.''
According to estimates by James Marks, Deutsche Bank Securities Analyst, the online mortgage
industry is set for explosive growth, with projections topping $60 billion by the year 2000. Finet, an
industry pioneer established in 1991 as an electronic mortgage broker, is poised to take a leading
position in the industry through an extensive online FiNet.com branding campaign and several
strategic marketing agreements with national and regional Internet portals.
Divided into three key areas-Finet Finance Center, Home Information Center and Mortgage Broker
Resource Center-FiNet.com features everything that the consumer, mortgage broker and lender
need throughout the mortgage process, including mortgage calculators, real estate analysis, property
listings, automated underwriting, refinancing advice, tutorials and rate comparisons. The Mortgage
Broker Resource Center features broker fee sheets, appraiser packages, broker packages and
automated underwriting systems technology.
''FiNet.com is one of the Internet's more comprehensive mortgage offerings as a result of
relationships Finet has developed with key industry leaders. In addition to the portal agreements,
Finet has established relationships with major Internet players such as: Infoseek Express,
GetSmart.com, Homeseekers.com and Knight Ridder New Media's Homehunter.com to drive
traffic to the Network,'' stated Rawitch. ''We add value to the site by providing property previews
through Homehunter.com and Homeseekers.com in addition to neighborhood financial trends and
demographics through Resicom.com.''
''America's Home Finance Network is all about choice. Since iQualify utilizes Fannie Mae's
Desktop Originator/Desktop Underwriter processes to provide consumers with instantaneous on line
mortgage approvals, Finet has established close ties with some of the nation's leading lenders such
as: Countrywide, First National Funding and Prism Mortgage to honor these underwriting decisions.
Once the consumer completes the process, they make the choice of where they want to process and
fund their loan,'' Rawitch continued. ''Interloan.com also provides consumers a choice since they
offer loan products from lenders such as Bank of America, CitiGroup and Norwest.''
''FiNet.com, America's Home Finance Network can be accessed through the Internet at
wwww.finet.com and offers consumers a total home financing solution. All the necessary electronic
tools are in place. We have spent several years and millions of dollars building FiNet.com. Now, we
are poised for the future and the rapid increase in Internet commerce that's underway,'' concluded
Rawitch.
About Finet
Finet Holdings Corporation, operator of FiNet.com, ''America's Home Finance Network'' is a
leading edge e-commerce mortgage finance firm that facilitates home financing through a variety of
technology-based products and automated services for consumers and real estate service providers.
Finet offers automated financing solutions to electronically enabled mortgage brokers and consumers
directly, through its Internet sites www.iqualify.com, a Smithsonian Award-winning electronic
mortgage approval service; and www.interloan.com, an on-line home financing site. 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 |
