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Strategies & Market Trends : WR's Momentum Trades -- Ignore unavailable to you. Want to Upgrade?

To: LANCE B who wrote (5671)	2/13/1999 7:55:00 PM
From: E. M. Edds	Read Replies (2) \| Respond to of 11130

From Yahoo FNHC board: Here is some info I got on what Mary Meeker at Morgan Stanley Dean Witter said about FNHC: Exponential growth is projected in Online Mortgage Originations, which should account for 10% to 20% of Total originations in five years, up from 0.35% to 0.7% today. This is equivalent to approx. $100-300 billion in volume with the potential for $1-2 billion in revenue for Mortgage lenders. Even this amount is considered conservative by Morgan Stanley Dean Witter. Mortgage Internet Technology companies like FINET (FNHC Nasdaq) provide a good play on growth in Internet Mortgage lending, being a strong pioneer in this industry. This company has developed skill in setting up "private label" web-based mortgage origination platforms for banks, homebuilders, mortgage bankers, and Realtors. Also it has access to Fannie Mae's automated underwriting technology with immediate Mortgage approval. If Morgan Stanley Dean Witter's industry growth projections are on target, then FINET in addition to other companies should have plenty of business with strong growth over the next few years. Finet also markets loans directly to consumers, through traditional and internet mortgage banking operations. MSDW Technology Research predicts Internet usage to triple by the year 2000 and has identified financial services as providing one of the biggest opportunities for e-commerce. The Internet will speed progress towards true electronic fulfillment (paperless mortgage) resulting in a faster mortgage origination process and market share gains for firms that can offer these to consumers, as FINET specializes in.