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| BYOWNER.COM SELECTS HOMESIDE LENDING AS EXCLUSIVE ONLINE MORTGAGE PROVIDER |
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| HomeSide's Innovative Online Lending Solution To Be Available On ByOwner.com and Forclosures.com |
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| LONG ISLAND, NY (December 11, 2000) ByOwner.com, the nation's leading web-based, no-commission home-selling solution, announced today the selection of HomeSide Lending, Inc. as the exclusive mortgage provider for ByOwner.com and Forclosures.com. HomeSide, one of the nation's top mortgage originators and servicers, will provide visitors to the two web sites with the power to access its streamlined online lending solution, which provides an upfront mortgage approval in as little as 10 minutes. |
Kevin C. Wood, president of ByOwner.com and Forclosures.com, said: "The foundation of our companies is built on providing the technology, tools and coaching necessary to empower home sellers and home buyers. With HomeSide's online mortgage solution, we can now expand our services to offer the fast, simple home financing our customers need to purchase their homes."
HomeSide's proprietary lending platform, which is powered by Fannie Mae's underwriting technology, offers significant benefits over traditional and many other online lenders. Through careful analysis and extensive process improvements, HomeSide has been able to:
• Reduce loan application information by more than 50 percent
• Provide an approval for a loan whether or not a consumer has selected a property to purchase
• Offer an approval decision in as little as 10 minutes on all available products before customers provide an application fee.
• Provide customers with access to HomeSide's Call Center loan professionals, who can advise consumers or answer questions
"HomeSide's online loan solution is a strong fit for both ByOwner.com and Forclosures.com. We're proud to provide an effective way to enhance both companies' Internet capabilities and strengthen their customer relationships through our superior lending technology," said Kevin D. Race, president and chief operating officer of HomeSide Lending, Inc.
About ByOwner.com
ByOwner.com (www.byowner.com) is the top web-based, no-commission home-selling solution in the U.S. Headquartered in Long Island, New York, ByOwner.com was founded in 1995 to help home buyers and sellers avoid paying high real estate commissions. ByOwner.com empowers home sellers to sell their property directly through the company's web site, so that their homes can be seen by prospective home buyers all over the world. ByOwner.com's affiliated company, Forclosures.com (www.Forclosures.com), helps home buyers who are looking for properties that are in foreclosure. ByOwner.com can also provide specialized coaching support to home sellers and offers an extensive portfolio of home plans for those who are building homes.
About HomeSide Lending, Inc.
HomeSide Lending, Inc., a wholly owned subsidiary of National Australia Bank (ASX: NAB), is one of the world's largest full-service residential mortgage companies. Headquartered in Jacksonville, Florida, HomeSide has a servicing portfolio of approximately $173 billion, representing 1.9 million homeowners. Additional information about HomeSide is available at http://esolutions.homeside.com. HomeSide Lending is an Equal Housing Lender.
ByOwner.com Contact:
Donna McWilliams
Marketing Manager
(888) 429-6963, ext. 139
cs2@byowner.com
HomeSide Contact:
Laura M. Clavier
Marketing Communications Manager
(904) 538-1756
lmclavier@homeside.com |
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