American Express Launches Online Mortgage Center; American Express Mortgage Center Provides One-Stop Access to Lenders, Financial Tools and Information.Business Editors MINNEAPOLIS--(BUSINESS WIRE)--April 5, 2000 American Express American Express (NYSE: AXP), sometimes known as "AmEx" or "Amex", is a diversified global financial services company, headquartered in New York City. The company is best known for its credit card, charge card and traveler's cheque businesses. Company today launched the American Express Mortgage Center (www.americanexpress.com/mortgages) - an online mortgage supermarket that offers access to hundreds of mortgage products. In addition, the American Express Mortgage Center provides a host of financial tools and information to help customers manage the home-buying process, find competitive rates, terms and other mortgage features, and help customers decide which mortgage is right for them. The American Express Mortgage Center, developed through a partnership with Prism Mortgage Company, offers an innovative, one-stop solution for borrowers seeking to manage their home investment as part of their overall financial strategy. The American Express Mortgage Center combines state-of-the-art technology with personal customer service, giving online customers the option of contacting a mortgage consultant for assistance. "The American Express Mortgage Center provides an easy, convenient way for people to find a mortgage that suits their needs," said Pamela Moret, senior vice president, American Express. "Coming on the heels of Membership B@nking, our online bank, and American Express Brokerage, our online brokerage, the American Express Mortgage Center is another way we are making American Express the preferred online destination for all of our customers' financial services 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. needs." Customers can submit applications and pre-qualifications online for fast approvals and decisions. Innovative tools such as the Loan Matchmaker Matchmaker - A language for specifying and automating the generation of multi-lingual interprocess communication interfaces. MIG is an implementation of a subset of Matchmaker. allow customers to receive an instant, customized rate quote from a database of hundreds of loan products. After the customer enters the loan amount, property value, property location, type of loan sought (e.g. 30-year fixed, ARM, etc.) and other information, the American Express Mortgage Center will provide a list of available loans. Customers can sort by closing costs Closing Costs The numerous expenses (over and above the price of the property) that buyers and sellers normally incur to complete a real estate transaction. Costs incurred include loan origination fee, discount points, appraisal fee, title search, title insurance, survey, taxes, , monthly payments, points, rates and other parameters, as well as change their search preferences with just a few mouse clicks. Other features of the American Express Mortgage Center include: -- Online loan status check. A password-protected loan status check area is available for customers to check the current status of their loan application. -- Educational Information. American Express Mortgage Center provides comprehensive information for home buyers including buying strategies, how to obtain pre-approval, a guide to different types of loans and downpayment strategies. -- Online calculators. The American Express Mortgage Center provides interactive tools to help users calculate their monthly payments, annual percentage rates and other variables. -- Refinancing Refinancing An extension and/or increase in amount of existing debt. Center. Educational, interactive tools are available to help current homeowners decide if refinancing is right for them. If so, the American Express Mortgage Center can find the best refinancing loan to meet individual customer's needs. -- Rate Monitor. Homebuyers can keep an eye on interest rates with the American Express Mortgage Center rate monitor. Users will automatically receive an email when interest rates reach a level that meets their needs. "Using the Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the to find a mortgage is convenient and saves time," said Moret. "But it's a question of trust. Buying a home is one of the most important financial transactions most of us will ever make. You want to work with a name you know - and a company you know will be there for you." "The American Express Mortgage Center offers customers a unique online mortgage service," said Mark Filler fill·er 1 n. One that fills, as: a. Something added to augment weight or size or fill space. b. A composition, especially a semisolid that hardens on drying, used to fill pores, cracks, or holes in wood, plaster, , president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Prism. "The American Express Mortgage Center combines American Express' trusted brand name and strong customer relationships with Prism's powerful online tools and its exceptional mortgage products, pricing and service. This winning combination will set American Express apart from the competition." American Express Company is a diversified diversified (di·verˑ·s worldwide travel, network, and financial services provider founded in 1850. American Express Company and its subsidiaries are leaders in charge and credit cards, Travelers Cheques, travel, financial planning Financial planning Evaluating the investing and financing options available to a firm. Planning includes attempting to make optimal decisions, projecting the consequences of these decisions for the firm in the form of a financial plan, and then comparing future performance against , investment products, insurance and international banking. For more information, visit www.americanexpress.com. The American Express Mortgage Center is available through Prism Mortgage Company. Chicago-based Prism Mortgage is a subsidiary of Prism Financial Corporation, a leading national retail mortgage banking company that originated approximately $8 billion in loans in 1999. Prism is licensed nationally, with more than 1,100 loan officers in 27 states. Prism operates through more than 150 retail branches as well as through partnerships with major Internet companies. Prism Financial's common stock trades on the NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on under the ticker symbol Ticker Symbol An arrangement of characters (usually letters) representing a particular security listed on an exchange or otherwise traded publicly. When a company issues securities to the public marketplace, it selects an available ticker symbol for its securities which investors PRFN. Royal Bank of Canada Bank of Canada Canada's central bank, established under the Bank of Canada Act (1934). It was founded during the Great Depression to regulate credit and currency. The Bank acts as the Canadian government's fiscal agent and has the sole right to issue paper money. , a diversified global financial services group, recently announced plans to acquire Prism. |
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