BestRate.com Acquires LoanApp.com.Business Editors SAN JOSE San Jose, city, United States San Jose (sănəzā`, săn hōzā`), city (1990 pop. 782,248), seat of Santa Clara co., W central Calif.; founded 1777, inc. 1850. , Calif.--(BUSINESS WIRE)--March 9, 2000 Leading mortgage Web sites now under one roof BestRate.com, Inc., the parent company of Myers 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 Services, a leading Internet Web development firm in the mortgage industry, announced today that it has acquired the assets of LoanApp.com, Inc., a Web site that offers an online marketplace for home loans. LoanApp.com is unique among mortgage Web sites because it enables local and national mortgage lenders to view and download To receive a file transmitted over a network. In any communications session, "download" means receive, and "upload" means send. The download/upload often implies a big/little scenario, in which data is being downloaded from the "big" server into the "little" user's computer. loan applications and compete for them by bidding. Consumers then receive the bid containing the lowest interest rate. LoanApp.com was launched in October 1999 and has become one of the fastest growing multi-lender Web sites on the Internet. In February 2000, LoanApp.com received more than 2,300 loan requests representing more than $220,000,000 in loan volume, and it has been selected as one of the top 50 Web sites by 100hot.com. "The feedback that Loanapp.com has received from participating mortgage companies has been phenomenal," said Warren Myer, 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 BestRate.com. "In particular, lenders who have utilized the site have praised the ease of use and the constant stream of qualified leads that they receive. Our goal is to provide a complete Internet solution for mortgage originators and lenders. LoanApp.com is a great example of how we enable mortgage companies to tap into the Internet and do business better in a cost-effective cost-effective, n the minimal expenditure of dollars, time, and other elements necessary to achieve the health care result deemed necessary and appropriate. way." About BestRate.com BestRate.com is a leading provider of Internet based 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. including mortgages, auto loans and credit cards. Myers Internet Services, a division of BestRate.com is a leading Internet web development, hosting and marketing firm in the mortgage industry, offers web sites to 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. , brokers and banks. Myers Internet Services currently hosts more Web sites in the mortgage industry than any other company and was ranked as the largest Web development firm in Silicon Valley by Silicon Valley Business Journal earlier this year. Their premier Web sites Mortgage-Net (www.mortgage-net.com), BestRate (www.bestrate.com) and Loanapp.com (www.loanapp.com) are some of the best-known mortgage-related Web sites. BestRate.com was recognized by Forbes as a "Best of the Web" mortgage site, and by Newsweek as an "Editors Pick", while Mortgage-net.com was selected by CNBC CNBC Center for the Neural Basis of Cognition (artificial intelligence) CNBC Consumer News and Business Channel CNBC Congress of National Black Churches, Inc. as the "Cool Site of the Day." For more information on directories or Web sites, contact BestRate.com, Inc. at (800) 693-7770, visit their web site at www.bestrate.com, or e-mail sales@myersinternet.com, or write Myers Internet Services, 2033 Concourse Drive, Suite 100B, San Jose, CA 95131. |
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