Automated Custom Rate Quotes Available Through Mortgage Websites

Business Wire, Oct 19, 1998

CHICAGO--(BUSINESS WIRE)--Oct. 19, 1998--

Myers Internet Services launches T-LOAN product to help

mortgage companies develop dynamic web sites

Myers Internet Services, Inc., a leading Internet presence provider to the mortgage industry, announced today at the Mortgage Bankers Association (MBA) Conference the availability of T-LOAN, an Internet-based product that enables a mortgage company's website to automatically generate a custom quote based on the needs of each customer.

According to Warren Myer, CEO of Myers Internet Services, this product will give lenders and mortgage brokers an affordable way to add the functionality found at major competitive sites.

Myer said, "We are particularly pleased to make T-Loan available to brokers and mortgage companies because it puts them on equal footing with their major competitors. T-Loan will enable even the smallest brokerage operation to provide the same level of service as is available from the industry giants." The T-LOAN product features an automated rate quotation engine that can be customized to fit the underwriting guidelines specific to a lender. This enables a consumer to obtain a customized rate quote based on their particular situation. Additionally, the consumer can obtain an on-line good faith estimate and loan program details.

Mortgage brokers can also use this product to create a multi-lender platform with their chosen wholesale lenders. Mortgage companies may choose to enter their rates or fax rate sheets to Myers Internet Services. The T-LOAN product enables customers to complete an application online that can be imported to over 40 different software origination systems. Customers who do not want to fill out an application online can download and print the form. Once a consumer submits a loan application, they can track the status of their loan electronically through a password-protected secure web site. Consumers can also choose to be notified via email if the status of their loan changes.

This product features a rich set of tools for consumers including RateTracker which enables a borrower to be notified electronically whenever a rate becomes available. RateTracker has a demonstrated record of helping mortgage companies increase the number of the leads generated from their web site by over 20% with no additional marketing cost. Additional tools include a pre-qualification calculator, a rent vs. buy calculator and a refinance calculator. A working demo of this product can be viewed at http://www.tloan.com.

Myers Internet Services, a leading Internet presence provider to the mortgage industry, offers on-line marketing solutions to mortgage bankers, brokers and banks. Their premier web sites Mortgage-Net (www.mortgage-net.com) and BestRate (www.bestrate.com) are two of the best known mortgage related web site.

For more information on directories or web sites, contact Myers Internet Services at (408) 428-9960, email sales@myer.com, or write Myers Internet Services, 2033 Concourse Drive, Ste 100B, San Jose, Calif. 95131