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LoanTrader, Inc. Appears On Alexander Haig's World Business Review TV Series; Discusses Enhancing e-Business on the Internet.

Business Editors

BOCA RATON, Fla.--(BUSINESS WIRE)--July 20, 2000

Multimedia Productions (USA) is proud to announce the appearance of John Le, CEO, LoanTrader, Inc. on World Business Review. The weekly television series focuses on business and technology, and is hosted by General Alexander Haig, former U.S. Secretary of State for President Reagan and former COO and president of United Technologies. Vinton Gray Cerf, senior vice president of WorldCom and one of the founding pioneers of the Internet, participates in the panel discussion as industry expert.

LoanTrader, Inc. was selected to appear as it is one of the first business-to-business conduits for the mortgage industry on the Internet. "LoanTrader is a prime example of the extent to which traditional business can be applied to the Internet," said the show's coordinating producer, Howard Weiner.

A World Business Review field report, shot on-location in Irvine, California, gives the viewer an understanding of the loan origination industry and how it applies to the Internet.

John Le, CEO of LoanTrader, Inc., appears on General Alexander Haig's World Business Review to discuss the opportunities his company is presented with via the Internet.

LoanTrader has become a hub on the Internet, creating a business-to-business conduit for the mortgage industry. They unite Mortgage Brokers with Lenders, in real-time via their Web hub, enhancing efficiency and productivity to the entire wholesale mortgage transaction. By empowering Mortgage Brokers and Lenders through the provision of tools used to communicate more efficiently and effectively, LoanTrader expects to significantly change the mortgage industry.

"We are uniquely positioned as the first true Internet Hub of the wholesale mortgage origination industry. This gives us a competitive advantage when compared to anyone else out there--existing or quietly in development. In my many discussions with brokers nationwide, it is clear that we are unlike any other service out there, and as such, are the first to the market," said Le.

LoanTrader intends to eliminate transactional friction by applying state-of-the-art technology and collaborative industry standards among Mortgage Brokers, Lenders and third-party service providers. It is LoanTrader's contention that this will create the most efficient marketplace for loan origination possible, benefiting all participants and their customers.

"I think the biggest (challenge) that all of the industry has is getting information in a timely way in order to act on it. Information is sort of the lubricant of e-commerce," said Cerf, later continuing, "Things are really changing. The network is shortening the time for the transversal of information about new products to get out into the hands of the brokers and then to the hands of the consumers."

In order to establish a foundation of trust and comfort, LoanTrader, beyond its system security, maintains a completely neutral position. LoanTrader is not a lender, and lender participants have real-time control over the types of loans they receive. The manner in which a Mortgage Broker structures the request and the Lender's willingness to review each aspect of the request determine which lenders study it. LoanTrader acts as a data conduit.

The adoption of new technology solutions is intended to create cost savings for consumers and greater profits for Mortgage Brokers, Lenders and third-party service providers. LoanTrader's primary focus is on its strategy for its Internet model, which is the business-to-business market. There are innumerable sections of the credit markets that contain such inefficiencies. Credit cards, auto finance, boat and personal loans are all viable markets for future expansion.

Taped in Washington, D.C., World Business Review currently airs on PBS The Business & Technology Network, and in quality business slots in numerous Public Television markets, including New York, Chicago, San Francisco and Miami. The weekly series can also be viewed on TWA, United Airlines, via webcast on BTNNTV.com (Business & Technology News Network), or through video on demand via yahoo!broadcast (broadcast.yahoo.com) or www.AENTV.com.

World Business Review has been developed into curriculum for college and university-level courses, and is being used in a variety of business and technology courses within the School of Business libraries at Carnegie Mellon University, Dartmouth College, Duke University, DePaul University, Georgetown University, University of Florida, University of Notre Dame, City University of Hong Kong, among other distinguished institutions of higher education.

Individual videotapes or continuing education systems (via Indiana State University) are available by calling 1-800-WBR-1032 or by visiting www.wbrtv.com, which showcases featured topics and specific companies' technologies.
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Publication:Business Wire
Geographic Code:1USA
Date:Jul 20, 2000
Words:728
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