AmeriStar Network Inc., an Online Internet Wholesale Lending Network Signs Letter of Intent to Acquire Access Business Capital.ST. GEORGE, Utah--(BUSINESS WIRE)--Mar. 17, 1999--AmeriStar Network Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:AMWK), http://www.ameristarnetwork.com signed a Letter of Intent to acquire Access Business Capital. Access is a nonbank non·bank adj. Of, relating to, or done by a business or an institution that is not a bank but performs similar services. mortgage loan originator with emphasis in the commercial financing arena, both SBA SBA abbr. Small Business Administration Noun 1. SBA - an independent agency of the United States government that protects the interests of small businesses and ensures that they receive a fair share of government guaranteed and conventional. Under the terms of the agreement, Access Business Capital will incorporate in the State of Delaware under the name AmeriStar Mortgage Inc. (AMI). "The commercial loans that have funded and the loans that are in the review and closing stages, representing over $25 million in loaned funds, will solidify AMI as one of the largest nonbank loan originators in the Southeast" said David Tew, president of AMI. Access Business Capital (AMI) has developed over many years of exposure in the lending community close personal relationships with many of the large national lenders for both residential and commercial loans, new and refinance Refinance 1. When a business or person revises their payment schedule for repaying debt. 2. Replacing an older loan with a new loan offering better terms. Notes: When a business refinances they typically extend the maturity date. . This relationship will solidify the commercial lending section needs of the Wholesale Lender Center (WLC WLC Wisconsin Lutheran College WLC West London College (UK) WLC Weighted Least-Connection WLC Workload License Charges WLC Warrior Leader Course WLC Whole Life Costs WLC Worm-Like Chain WLC Wafer Level Camera ) that AmeriStar Network Inc. has purchased in an exclusive agreement with Mortgage Internet Technologies Inc. The WLC is located within the Virtual Lender(TM) system http://www.vlender.com, an Internet based mortgage loan origination The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. software. About the Business To the mortgage professional, the Internet requires a certain level of commitment to Online technology, including site construction, education, administrative, process and a basic understanding of how they will need to react to business procured by the Internet. The Virtual Lender(TM) was designed to answer these concerns and has proven to be a widely accepted tool for the mortgage professional. The Virtual Lender(TM) will take the mortgage professional from point "A", being no involvement in the Internet, to point "B", being completely capable of online origination in less than 20 minutes, a process that usually takes 30-60 days and costs several thousands of dollars. The Virtual Lender(TM) is an excellent "Front End" system to host AmeriStar's "AmeriTrac" mortgage loan delivery. The WLC is an area that is built into the Business Development Center (BDC (Backup Domain Controller) In a Windows NT server, a copy of the Primary Domain Controller (PDC). The BDC is periodically synchronized with the PDC. See PDC. BDC - Backup Domain Controller ). By entering the BDC, the loan originator may choose the "Wholesale Network" button to access a list of participating wholesale 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 , their rate sheets, loan programs and lock sheets. Mortgage Internet Technologies Inc., and AmeriStar plan to officially unveil the AmeriTrac wholesale lender network at the Net 99 National Mortgage Conference (iqpc.com) to be held in Chicago in June of this year. |
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