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Technology Stocks : FNCM Finet.Com -- Ignore unavailable to you. Want to Upgrade?

To: Techy who wrote (1049)	4/26/1999 1:26:00 PM
From: Skywatcher	Read Replies (2) \| Respond to of 2420

Finet Introduces Internet Mortgage Auction for New Homeseekers.com Finance Center Consumers Get the Best Rates With New Site WALNUT CREEK, CA--(BUSINESS WIRE)--April 26, 1999-- Finet Holdings Corporation (NASDAQ: FNHC - news) owner and operator of FiNet.com, ''America's Home Finance Center,'' today announced a revolutionary move empowering consumers with stronger bargaining power when seeking a home mortgage. Finet is launching the Internet's first mortgage auction site that allows consumers to have their application reviewed and approved on-line before it is put out to bid to multiple lenders. Finet will introduce this new functionality as the exclusive operator of the new Homeseekers.com (NASDAQ: HMSK - news) Finance Center. This new process will utilize and expand Finet's iQualify.com automated loan analysis functionality and give consumers a wider choice of lenders through the auction process. Consumers also have the option to select a mortgage program from one of the dozens of lenders available through Finet's main retail site, Interloan.com. Finet joins such e-commerce leaders as www.e-bay.com (NASDAQ: EBAY - news) www.amazon.com (NASDAQ: AMZN - news) and www.priceline.com (NASDAQ: PCLN - news) in offering auction functionality. The auction process further empowers the consumer to take control of the mortgage process and enhances our strong commitment to lender neutrality and maximum choice and savings. ''Up until now, the process has been backwards. In other systems, a mortgage is put out for bidding before it has been underwritten, '' explained Dan Rawitch, Finet President. ''Lenders are less likely to aggressively bid on the loan without having a commitment of approval or credit information. By providing an underwriting decision, with approval and pertinent credit information, Finet gives lenders a solid picture of what they're bidding on and consumers more certainty that their loan will close at the bid terms. Combining prior loan approval on-line with the open-bidding auction process and a multi-lender web site is the best of all worlds for the consumer.'' This new agreement with HomeSeekers.com will provide value-added financing services to home-buyers utilizing the HomeSeekers.com web sites offering access to more than 680,000 homes for sale throughout the United States. PR machine is running well. chris