April 2,2002
SAN JOSE, Calif., April 2, 2002 - -- LoanApp.com, a leading Internet lead generation web site, announced today that it has signed up more than 1,000 mortgage companies and has generated more than $21 billion in loan requests since its inception in October 1999.
"I believe that LoanApp.com has more lenders than any other consumer lead generation site on the Internet," said Warren Myer, CEO of Myers Internet, Inc. "This is a result of providing high-quality leads at very competitive prices through user-friendly and flexible systems. In addition, we have just launched LoanApp.com version 2 which raises the bar even further and will result in LoanApp.com continuing to outdistance competition to become the lead generation site of choice in the mortgage community."
Features available in LoanApp.com version 2 include the ability to target by LTV, Property Type, Occupancy Type and Loan Type. LoanApp.com version 2 also allows a high degree of flexibility when targeting by geography. A lender may choose a mixed combination of geographic locations all at the same time. For example, a lender could choose to target leads in all of California while at the same time targeting certain counties in Nevada and 50 mile radius around a specific zip code in Oregon.
LoanApp.com version 2 also allows lenders to set multiple filters, unlike most systems that only allow a single filter. This gives lenders the ability to set highly different filters for different loan products. By offering this feature, LoanApp.com allows lenders to match their loan filters to the products they offer, thereby obtaining very highly targeted leads.
Participating lenders may also view full 1003 forms online and download them into a variety of desktop origination systems including POINT® for Windows, Byte/TQSPlus™, Contour/The Loan Handler™, Genesis 2000® and any system that is compatible with the Fannie Mae Desktop Underwriter® file format.
"We have received very positive feedback from lenders and brokers on LoanApp.com's ease of use and generation of qualified leads," said Warren Myer, CEO of Myers Internet, Inc. "On average, participating companies are closing approximately eight percent of the applications that they receive through LoanApp.com, which is significantly higher than closing rates obtained through other lead generation sites."
Myers Internet, Inc. is the leading provider of Internet infrastructure to the mortgage industry. Myers' solutions allow for a completely electronic transaction, connecting consumers with originators and originators with lenders and service providers. Using Myers' Webwiz technology, an originator can build a state-of-the-art customized Web site in minutes. Myers' Originator Network enables originators to shop rates, process loans and connect to lenders electronically - resulting in faster processing and reduced costs. Myers' electronic community is comprised of 4,500 brokerage companies with more than 25,000 originators. Its premier Web sites, OriginatorNetwork.com, BestRate.com and LoanApp.com are among the best-known mortgage-related sites. For more information visit www.myersinternet.com or call (408)428-9960.
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