Bell Emergis/MPACT Immedia Launches Online Mortgage Explorer to U.S. Market; Worldwide Technology Leader Brings More Lenders, Greater Efficiency to American Homebuyers.MONTREAL--(BUSINESS WIRE)--Jan. 14, 1999--Bell Emergis/MPACT Immedia, a member of Bell Canada Bell Canada Enterprises (TSX: BCE, NYSE: BCE), legally BCE Inc., is a major Canadian telecommunications company. Through its subsidiaries including Bell Canada, Bell Aliant, Northwestel, Télébec, and NorthernTel, it is the incumbent local exchange carrier for Enterprises (BCE BCE abbr. 1. Bachelor of Chemical Engineering 2. Bachelor of Civil Engineering BCE Abbreviation for before the Common Era. ), today brings its powerful Online Mortgage Explorer (OME (Open Messaging Environment) An open messaging system from Novell. It is based on Microsoft's MAPI and is a superset of Novell's MHS and WordPerfect Office's messaging systems. ) to American e-commerce shoppers, providing mortgage seekers with a unique multi-lender, Web-based computerized 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. system. The OME pilot begins as a service in New England New England, name applied to the region comprising six states of the NE United States—Maine, New Hampshire, Vermont, Massachusetts, Rhode Island, and Connecticut. The region is thought to have been so named by Capt. with nine lenders, and will soon be offered nationwide. Its web address is www.multilender.com. Targeted at Internet-savvy homebuyers, OME provides mortgage shoppers access to a selection of lenders, products and loan terms. In connecting borrowers to lenders, OME leverages the broad reach of the Internet and the security of Freddie Mac's GoldWorks(R) electronic network. GoldWorks(R) connects mortgage service providers, such as OME, to more than 1,350 lenders through a single-network link (the network is closed to the general public). Network subscribers can communicate electronically in a secure environment with business partners, including Freddie Mac Freddie Mac: see Federal Home Loan Mortgage Corporation. , to exchange information and conduct business in ways that are faster and more cost-effective than traditional methods. Today, with the alliance between BCE Emergis/MPACT Immedia and Freddie Mac, New England home seekers using OME can enjoy user-friendly online access to a diverse group of GoldWorks(R) lenders. "Our aim is to provide a powerful Internet-based utility that allows a borrower to complete and submit an application form for approval to a lender in a secure and confidential environment," said Robert Habert, vice president and general manager of Mortgage Services at Bell Emergis/MPACT Immedia. "OME serves that purpose by getting consumers into the mortgage shopping process very quickly, giving them accurate information, security, and most of all, privacy and anonymity." "By accessing OME through Freddie Mac's GoldWorks(R) electronic network, lenders can make available their products and services to the vast number of consumers on the Internet," said Bob Ryan, vice president of Marketing at Freddie Mac. "Both lenders and their mortgage customers will be able to enjoy the convenience, efficiency and security that innovative electronic commerce technology can bring to the marketplace." OME's features include: -- OME is a pure lender-to-consumer mortgage finder on the Internet. Borrowers don't have to pay a fee for the service. OME is a 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. , finding the best fit between mortgage seekers and lenders based on user-specified needs. -- No credit card or other payment option is required by the consumer to find lenders using OME. -- OME is a highly secure site. -- OME is very user-friendly; consumers anonymously answer only 14 questions on three easily understood web pages to find lender matches. Freddie Mac is a stockholder-owned corporation chartered by Congress in 1970 to create a continuous flow of funds Flow of funds In the context of municipal bonds, refers to the statement displaying the priorities by which municipal revenue will be applied to the debt. In the context of mutual funds, refers to the movement of money into or out of a mutual funds or between or among to mortgage lenders. By supplying lenders with the money to make mortgages and packaging the mortgages into marketable securities Marketable Securities Very liquid securities that can be converted into cash quickly at a reasonable price. Notes: Marketable securities are very liquid as they tend to have maturities less than one year, and the rate at which these securities can be bought or sold has , Freddie Mac sustains a stable mortgage credit system and reduces the mortgage rates paid by homebuyers. Over the years, Freddie Mac has opened doors for one in six homebuyers in America and two million renters. More information on Freddie Mac can be found on the company's web site located at www.freddiemac.com. Bell Emergis/MPACT Immedia delivers network-centric business solutions that improve and, in fact, become integral part of customer processes. Its e-commerce solutions enable organizations to better compete in the global marketplace. BCE recently concluded a merger with the electronic Business Solutions (PBS PBS in full Public Broadcasting Service Private, nonprofit U.S. corporation of public television stations. PBS provides its member stations, which are supported by public funds and private contributions rather than by commercials, with educational, cultural, ) unit of Bell Emergis and MPACT MPACT Mississippi Prepaid Affordable College Tuition Plan Immedia, making the combined entity one of the top-tier electronic commerce providers in the world. Bell Emergis/MPACT Immedia is a subsidiary of Bell Canada and a member of Bell Canada Enterprises, Canada's global telecommunications company. It has 122,000 employees worldwide, revenues of $33 billion and assets exceeding $40 billion. For more information, go to www.mpactimmedia.com or www.bell.ca/netcommerce. (Note to editors. The $33 billion is in Canadian dollars.) |
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