BankZIP.com Chooses MortgageSelect.com as Exclusive Online Residential Mortgage Provider.Business Editors NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of & POTTSTOWN, Pa.--(BUSINESS WIRE)--July 20, 2000 Internet Banking Alliance to Offer Online Mortgage Origination Services to Alliance Partners MortgageSelect.com, the Internet-based subsidiary of American Home For the American mortgage lender, see . The American Home is a center of intercultural exchange located in Vladimir, Russia. The home is designed to model a typical American suburban home and its main focus is the ESL school that provides lessons for Russian students. Mortgage Holdings (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 : AHMH AHMH American Home Mortgage Holdings, Inc. ) and one of the nation's top five Internet mortgage bankers Mortgage Banker A company, individual or institution that originates, sells and services mortgage loans. Notes: Don't confuse a mortgage banker with a mortgage broker. , and BankZIP.com, the world's first Internet banking alliance, today announced that MortgageSelect.com has been chosen as the exclusive provider of BankZIP.com's network of online mortgage centers. Under the terms of the agreement, MortgageSelect.com will provide Internet mortgage origination and pre-approval services to the customers of participating BankZIP.com alliance partners. Through "private labeled" mortgage centers on alliance partner Web sites, users will have access to MortgageSelect.com tools that can be used to evaluate home finance conditions, check, shop, and lock in rates, calculate payments and even apply for a home loan online, while taking advantage of the other online banking services offered by BankZIP.com alliance partners. Customers of BankZIP.com alliance partner banks now will have access to the best mortgage product and pricing information available on the Internet. "By providing our alliance partners with the best services available on the Internet, BankZIP.com is leveling the playing field between large financial institutions and community banks," said Rick Elko, president of BankZIP.com. "Because MortgageSelect.com, like our alliance partner banks, focuses on quality customer service, this partnership ensures that the customer will feel comfortable through every step of the online mortgage process." MortgageSelect.com will service BankZIP.com customers through one of its three "e-branches," which are located in New York and California. Unlike other call centers with high-volume capabilities, MortgageSelect.com e-branches offer customers a more personalized per·son·al·ize tr.v. per·son·al·ized, per·son·al·iz·ing, per·son·al·iz·es 1. To take (a general remark or characterization) in a personal manner. 2. To attribute human or personal qualities to; personify. experience. Each e-branch houses a full time manager with P&L responsibilities and decision-making power. Through MortgageSelect.com's system, a customer can speak directly to this decision-maker in two phone calls or less. "MortgageSelect.com can ensure BankZIP.com alliance partners that their customers will receive the same level of service when originating a loan online as they would if they walked into the alliance partner's bank," said Scott Messina, senior vice president of e-commerce for MortgageSelect.com. "Because of our unique business strategy, we are able to originate, process and close a loan in the name of the bank, without ever mentioning MortgageSelect.com to the customer." About BankZIP.com BankZIP.com is the world's first Internet banking alliance and was created as a way for community banks to attract new and retain existing customers through an extensive consumer marketing and awareness campaign. BankZIP.com provides consumers with a superior Internet experience that includes an extensive product offering. BankZIP.com can enhance existing Internet banking software for community banks that already offer Internet banking to customers, or it can be installed as a complete turnkey solution for banks with no Internet offering. Community banks can become part of the alliance in as little as 30 days. BankZIP.com is built upon the foundation of the high quality customer experience and trust for which community banks are known. With BankZIP.com, customers of community banks have several banking options, including on-line, in person, on the phone, or banking through the mail. Customers also enjoy the use of all ATMs within the alliance without paying surcharges. Fully developed, BankZIP.com will support over 300 banks with as many as 4,000 branches and 5,000 ATMs across the nation. About American Home Mortgage and MortgageSelect.com MortgageSelect.com, launched in the first quarter of 1999, is the Internet-based subsidiary of American Home Mortgage Holdings (NASDAQ: AHMH). Located in New York, American Home Mortgage is one of the nation's largest mortgage banking firms with more than 700 employees. MortgageSelect.com is currently ranked third in closed loan volume of Internet lenders (according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. U.S. Bancorp  This article or section needs copy editing for grammar, style, cohesion, tone and/or spelling.You can assist by [ editing it] now. Piper Jaffray Piper Jaffray & Co. (NYSE: PJC), often shortened to just Piper Jaffray or PiperJaffray, is a U.S. middle-market investment banking firm based in Minneapolis, Minnesota and is a focused on delivering financial advice, investment products and transaction execution ), and has increased market share in every quarter since its launch. Over eighty percent of the firm's business volume comes through purchase mortgages rather than refinancing Refinancing An extension and/or increase in amount of existing debt. . Because mortgages for home purchases typically close in a timely way, the company's specialization A career option pursued by some attorneys that entails the acquisition of detailed knowledge of, and proficiency in, a particular area of law. As the law in the United States becomes increasingly complex and covers a greater number of subjects, more and more attorneys are stabilizes its income stream. Refinancing mortgage companies, on the other hand, often find their closings delayed - and their incomes diminished - when rising interest rates persuade borrowers to forgo or delay closing their refinancing loans. Like a mortgage broker, MortgageSelect.com offers customers the ability to compare thousands of mortgage programs and rates from hundreds of the nation's leading wholesale lenders. As a mortgage banker MortgageSelect.com can also directly lock in, accept and fund any loan program a customer selects. This press release may contain 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. within the meaning of 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. These statements are based on management's current expectations or beliefs and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those set forth in the forward-looking statements. For a detailed discussion of these cautionary statements, risk factors and uncertainties please refer to the Company's filings with the Securities and Exchange Commission. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion