AmericanLoanSearch.com Is The Sought-After Location, Location, Location For Loan Seekers

Market Wire, July, 2000

AmericanLoanSearch.com, the powerful loan search engine that brings together consumers seeking financing with a select group of knowledgeable lenders and brokers, announces that participating lenders and brokers have received more than 26,000 unique loan inquiries in less than nine months. The site counts an estimated daily average of more than $15 million (daily) in loan inquiries. AmericanLoanSearch.com posted an 88 percent increase from February to June in loan inquiries to its participating lenders and brokers.

"We have found that the consumer traffic to our search engine is quality traffic - people who are serious about finding detailed, yet simplified information from lenders," said Dave Schneider, founder and chief executive officer, AmericanLoanSearch.com. "The conversion rate of these consumers who successfully find a loan or lender that fits their exact needs underscores just how important a resource they consider AmericanLoanSearch.com's non-intrusive site. They are comfortable knowing that their private financial information is not up for grabs, and that they control the inquiry process at every turn."

AmericanLoanSearch.com is distinguished by its Fast Quote, where consumers securely submit their requested financing information and obtain detailed, personalized loan quotes from up to 10 lenders who fit their financing needs, and the rate comparison area where consumers can shop mortgage rates.

With AmericanLoanSearch.com, finding a lender and comparing loan rates has been simplified and easy to use. The site provides convenient online access to a wide variety of home loans, auto loans and credit cards, as well as immediate access to informative tools, helpful content, credit repair techniques and daily financial market news. In addition, many lenders offer exclusive promotions for consumers, from savings on loan costs to free trips.

Each lender is accessible through AmericanLoanSearch.com with one click to see only that lender's best loan programs and rates. With AmericanLoanSearch.com, consumers can compare up- to-the-minute updated rates of up to 10 lenders at once, view a breakdown of their rate, points, fees, APRs, and more in each of 15 loan categories.

Loan categories include: jumbo and conforming loans, refinance, second mortgages (including home equity, home improvement and debt consolidation), FHA and VA loans, as well as sub- prime loans for those with less than perfect credit. Participating lenders are required to update their information at least once every 48 hours.

AmericanLoanSearch.com breaks the mold of many financial services by allowing consumers to always control the financing inquiry process at every point. This differs sharply from sites that encourage consumers to blindly provide personal information and then sell it to countless unknown lenders.

Headquartered in San Diego's burgeoning technology corridor, AmericanLoanSearch.com was founded in 1999 by Dave Schneider, who also operates Electric Business, a company launching a series of specialty portals and other e-commerce oriented businesses.

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