Affinity Technology Group Launches Home Equity Products.Business Editors COLUMBIA, S.C.--(BUSINESS WIRE)--May 2, 2000 "Products Deliver Immediate Decisions to Consumers in Real-Time" Affinity Technology Group, Inc. (Nasdaq: AFFI) today launched its Home Equity and Home Equity Line of Credit automated au·to·mate v. au·to·mat·ed, au·to·mat·ing, au·to·mates v.tr. 1. To convert to automatic operation: automate a factory. 2. lending products. Both products are designed for implementation in either an Internet or traditional back office environment. The products are integrated with Affinity's patented Decisys/RT closed loop decisioning system and are available through Affinity's e-xpertLender and rtDS licensed products and services. "Although most lending institutions Noun 1. lending institution - a financial institution that makes loans financial institution, financial organisation, financial organization - an institution (public or private) that collects funds (from the public or other institutions) and invests them in are allowing consumers to submit credit applications over the Internet, our products will allow our customers to offer home equity products in real-time with immediate decisioning to consumers, both on the Internet and in traditional origination Origination The process through which a mortgage lender creates a mortgage secured by some amount of the mortgagor's real property. Notes: Also known as loan origination, everyone must go through the origination process when securing a mortgage for a piece of real environments - that's a true advantage, to both the lending institution and the consumer," said John Rogers John Rogers may refer to: Europeans
Affinity's technology enables financial institutions to link their branches, call centers, Internet customers, and indirect agents electronically to their credit departments, providing fully automated lending - and, if necessary, connectivity to a loan officer - through every channel. For financial institutions, Affinity's solutions expedite ex·pe·dite tr.v. ex·pe·dit·ed, ex·pe·dit·ing, ex·pe·dites 1. To speed up the progress of; accelerate. 2. loan decisioning and processing and increase productivity and capacity of branch personnel, call center agents, loan officers, and indirect agents, while improving the overall customer experience. Affinity is located on the World Wide Web at www.affi.net. Forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. in this news release, including statements regarding the Company's products and services are made pursuant to the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Investors are cautioned that forward-looking statements involve risks and uncertainties, including those related to general economic conditions, delays and risks associated with the development of new technologies, consumer and industry acceptance of automated delivery channels, and regulatory risks, that may cause actual results to differ materially from those projected. NOTE TO INVESTORS AND EDITORS: Affinity's press releases are available on the Internet through Business Wire's web site at http://www.businesswire.com. The releases are also available at no extra charge through Business Wire's Company News-On-Demand fax service at 1-800-340-7544. |
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