Consumer Financial Network, Inc. CFN Signs Prism Mortgage Company to Multi-Lender Platform

Business Wire, Feb 23, 1999

ATLANTA--(BUSINESS WIRE)--Feb. 23, 1999--Consumer Financial Network, Inc. (CFN) announced today it has added Prism Mortgage Company to its home finance program, making Prism the most recent addition to CFN's multi-lender mortgage offering.

CFN is a sophisticated e-commerce platform for marketing financial services and employee benefits over corporate intranets and the Internet, as well as through a telesales center.

Prism Mortgage Company provides mortgage, refinancing and home equity loans to eligible employees of CFN's member corporations. Laurence Katz, vice president of electronic commerce for Prism, stated, "CFN has established itself as a dynamic and growing channel for the distribution of financial services and benefits to corporate employees via the Internet. We're excited about the possibilities of their business model and their understanding of e-commerce marketing, and we anticipate a long-term relationship with CFN and its management team."

Gary Snowberger, vice president of CFN's home finance program, stated, "Prism Mortgage offers great products, great rates, and great closing costs. They are a competitive provider and an excellent addition to our team. We're looking forward to a rewarding and enduring relationship with their company and its representatives." The addition of Prism Mortgage Company to CFN's home finance platform brings the total number of multi-lender providers to 11, said Snowberger, who added that Prism is a leading lender in the e-commerce mortgage segment.

Prism Mortgage is one of the largest and fastest-growing mortgage companies in America. The company utilizes state-of-the-art technology, which enables Prism to provide fast, efficient service and loan approvals. Prism Mortgage was founded in 1992 and is headquartered in Chicago.

CFN has contracted with competing providers of financial services and employee benefits to create a platform for the comparison shopping and purchase of these services. CFN is provided at no cost to large companies and associations (typically 5,000 or more employees) for distribution as a human resource benefit to their employees or members.

More information about CFN can be obtained at www.cfn.com.