BNC Mortgage Inc. Announces Relationship With Loan Trader.com Inc.'s Internet System.IRVINE, Calif.--(BUSINESS WIRE)--Sept. 23, 1999-- BNC (hardware) BNC - A connector for coaxial cable such as that used for some video connections and RG58 "cheapernet" connections. A BNC connector has a bayonet-type shell with two small knobs on the female connector which lock into spiral slots in the male connector when it is twisted Mortgage Inc. (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 :BNCM BNCM Bayesian Network Causal Model ) Thursday announced that it has entered into an agreement to be a Beta test A test of new or revised hardware or software that is performed by users at their facilities under normal operating conditions. Beta testing follows alpha testing. Vendors of packaged software often offer their customers the opportunity of beta testing new releases or versions, and the participant on the LoanTrader.com Internet Communication and Wholesale Mortgage Sourcing System. "As a Beta Test participant, BNC welcomes the opportunity to provide input as to how to make this exciting Web portal See portal. for the mortgage industry useful to BNC and the industry as a whole," said Kelly W. Monahan, president of BNC. LoanTrader.com is a new mortgage industry Internet marketplace See vertical portal and Web hub. where brokers can receive direct responses including programs, rates, conditions and fees from participating lenders. A mortgage broker enters a loan request into the system and is matched to all lender participants offering the requested product and borrower profile. The participating lenders provide a detailed response including, programs, rates, and conditions for each loan uploaded into the system. "BNC Mortgage Inc. sees an opportunity to create an alternative marketing channel for our wholesale subprime lending  This article or section may deal primarily with the U.S. and may not present a worldwide view. operation through the Internet and we welcome the opportunity to work with LoanTrader.com," added Monahan. LoanTrader.com Inc., a division of DeNovo Net Inc., is a privately held company privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. located in Irvine. The company is a leading provider of e-commerce solutions to the mortgage banking industry. BNC Mortgage Inc. is a specialty finance company engaged in the business of originating, purchasing and selling, on a whole loan basis for cash, conforming and non-conforming, residential mortgage loans secured by one-to-four family residences. Since its inception in 1995, BNC has originated over $3 billion of mortgage loans in over 40 states. Except for historical information contained herein, this new release contains forward-looking statements within the meaning of Section 27A of the Securities Exchange Act of 1933, as amended in Section 21E of the Securities Exchange Act of 1934, as amended and involve risks and uncertainties that could cause actual results to differ materially. These forward-looking statements can be identified by the use of words "anticipate," "may," "will," "expect," "intend," "could," "would," and "remain," "continue," or the negative or other variations thereof or comparable terminology. The company's actual results could differ materially from those anticipated in the forward-looking statements based on changes in the company's business strategy. |
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