LoansDirect Recognized as No. 1 in Customer Confidence by Gomez Advisors; Leading Online Lender Rises to No. 2 in Overall Ranking

Business Wire,  Nov 20, 2000  

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Business Editors and High-Tech Writers

HUNTINGTON BEACH, Calif.--(BUSINESS WIRE)--Nov. 20, 2000

LoansDirect Inc. a leading online consumer direct mortgage lender has been recognized as the leader in customer confidence by Gomez Advisors for the second consecutive quarter.

In its history of rankings the company has maintained its position among the top three best mortgage sites out of more than 300 online mortgage lenders reviewed and most recently rose to the No. 2 position in the overall rankings in Gomez Advisors Winter 2000 Internet Mortgage Scorecard(TM).

Some of the key benefits and features the company was acknowledged for are its Total Satisfaction Guarantee which is the most comprehensive customer service guarantee in the industry, and MyLoanTeam(TM), the first online visual and audio introduction to the applicant's assigned loan team. The company also received praise for its new wireless application and live customer survey results.

"The ongoing recognition from Gomez is a strong validation of our ability to provide consumers with a superior online lending experience," said Anthony Hsieh, president and CEO of LoansDirect. "As more consumers see the Internet as a viable option for obtaining a home loan we will continue to dedicate our resources to ensure that our Web site keeps pace with that growth."

Gomez Advisors provides information to consumers who want to transact business online, and to e-businesses that want to learn about online consumers' needs.

Gomez's Mortgage Site Scorecard(TM) measures the quality of mortgage lending e-commerce sites based on more than 100 objective criteria including online rate locks; Web site content; tools to expedite research of loan options; decision support calculators to facilitate important analyses; detailed and accurate listings of all closing costs; and online loan tracking features.

Each of these criteria is categorized into one of five groups including ease of use, customer confidence, on-site resources, relationship services, and overall cost. For a complete list of the Internet Mortgage Scorecard(TM) rankings visit www.gomez.com/scorecards.

About LoansDirect Inc.

LoansDirect funded more than $2 billion in consumer residential mortgages in 1999, through June 2000, making it one of the largest and strongest independent retail mortgage lenders in the nation. The company was founded in 1983, as a conventional mortgage company, and in 1994 began transforming its operation to a virtual mortgage bank, leading the way for the Internet-direct lending platform.

LoansDirect offers consumers a diverse array of loan products, including conventional, sub-prime, government and second mortgages, through its integrated Web site at www.loansdirect.com and call center. The company also offers business-to-business online mortgage solutions through the integration of its proprietary OnTrak(TM) technology and call center with co-branded or private-label Internet sites.

Through its MyLoanAccount(TM) technology, LoansDirect offers borrowers the ability to manage 100% of their mortgage transaction online. Consumers visiting the company's Web site can compare rates, and apply for and obtain loan approval and guaranteed mortgage pricing within minutes. Borrowers can also schedule appraisal and loan signing appointments online, view and print their loan documents and track detailed progress of the loan transaction as it occurs.

LoansDirect charges absolutely no application fee, is licensed in 47 states, and can close loans online in as little as four days. In March 2000, the company received the highest five-star rating from Inside Mortgage Technology and is ranked as a top three online mortgage-lending site by both Inside Mortgage Technology and by Gomez Advisors on their Internet Mortgage Scorecard(TM).

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