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InterFirst Introduces MOAI, the Premier Web-based Service for Mortgage Professionals.

CHICAGO--(BUSINESS WIRE)--June 22, 1998--

Free Service Enables Thousand of Mortgage Professionals To Access

Information and Transact Business Instantly On-Line

InterFirst Wholesale Mortgage Lending today previewed MOAI(SM) (Mortgages On-Line at InterFirst), its premier Web-based service designed exclusively to help mortgage brokers, mortgage bankers and correspondent lenders process loans quickly and efficiently by enabling them to receive up-to-the-minute pricing and loan status information in real time format. The demonstration of MOAI took place at the annual convention of the National Association of Mortgage Brokers.

InterFirst will offer the website free to its clients nationwide. InterFirst account executives will assist in establishing MOAI relationships so that clients can access MOAI simply by logging on to the site through any PC that supports the Internet. MOAI uses state-of-the-art encryption and an authentication process including user certificates to limit access to the system.

"MOAI will give our customers an important competitive advantage in a highly contested industry," said Willie Newman, director of wholesale mortgage lending at InterFirst. "Through tools only technology can provide, mortgage professionals using MOAI can better service their own customers and ultimately become more profitable," he added. "We are proud to be one of the first companies driving the technological push in the market."

The initial roll out of MOAI offers four functions:

-- Accessing the most up-to-date loan status information, which

saves time waiting for faxes or calling InterFirst.

-- Submitting rate locks electronically, which allows InterFirst

clients to function in a more timely and efficient manner.

-- Receiving daily production reports on loans and other issues so a

mortgage professional can manage his or her business with

InterFirst more effectively. This includes cumulative information

on total pipeline status.

-- Providing on-line reference information that gives immediate

access to loan program information, disclosures and InterFirst's

policies and procedures.

InterFirst plans to add additional functions that will help make its clients more competitive in the areas of electronic loan submissions and enhancements that may include automation of funding and closing requests.

"In analyzing our current relationships with customenvention is the key component of a national marOAI statues on Easter Island, which symbolize Irtgage Lending, one of the nation's top wholesasets of $398 billion, $114 billion in North Ameate and maintain a leadership position as an inANKING INTERACTIVE/MULTIMEDIA/INTERNET TRADESHOW

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Publication:Business Wire
Date:Jun 22, 1998
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