Inland Mortgage Uses Internet to Provide Quicker, More Affordable Home Loans; Leading Mortgage Bank Allows Customers Access to Online Library, Competitive Rates and Loan Approval in Hours

Business Wire,  Jan 22, 1997  

• E-mail
• Print
• Link

INDIANAPOLIS--(BUSINESS WIRE)--Jan. 22, 1997--Inland Mortgage, a nationally recognized mortgage banking firm, is launching the future of mortgage industry services through its new Internet residential loan system. A respected name in the mortgage banking industry for mome. The second resource enables users to apply for a mortgage online and receive an answer within hours, as well as an instant determination of the maximum home pridn't believe how easy, quick and hassle-free Inltright. With the Inland online application, I was able to get the information I needed, apply for the loan and quickly receive approval, all from the comfort of my h As a direct lender that underwrites its own loans and makes all loan underwriting decisions, Inland Mortgage's online process streamlines the approval process for many qualified borrowers. By submitting a simple loan application via the Internet, qualified borrowers can receive loan approval within hours. Additionally, the opportunity exists to save money if borrowers meet the criteria for a "Prime Loan," whose criteria includes possession of good credit, having a 20 percent down payment and single family residency.

To aid the home buyer in understanding their financial situation, Inland's online site also will determine a customer's Home Buying Purchase Power, the maximum amount a home buyer can afford to spend on a house.

"Financial services are continuing to grow in both range and capabilities through the integration of the Internet," said Corky Watts, vice president and manager of Inland Mortgage's Internet Marketing Division. "Inland Mortgage has taken advantage of this emerging delivery channel and converted it into a valuable new way to save both time and money for new home buyers.

"Inland Mortgage provides the home buyer with not only the information needed to make an informed mortgage decision, but also the necessary channel to work directly with the loan institution. After researching loan information online, borrowers can proceed with the Quick App or contact one of the company's 108 branches to apply for a loan. Through Inland's two Internet service offerings, the home buyer is empowered to get a home loan more effectively," said Watts.

The Mortgage Mart: Information to Make the Right Decisions

The Mortgage Mart provides a free informational resource designed to help consumers through the process of obtaining a residential mortgage loan. This resource was designed to not only fulfill the needs of the first-time buyer, but also those who have had previous experience with mortgages. Online mortgage loan program descriptions and current mortgage market conditions, as well as an extensive library of mortgage lending resource material and current real estate finance information, are all available through The Mortgage Mart Web site.

"Inland Mortgage is dedicated to not only getting qualified borrowers a loan at a competitive rate and in the most efficient fashion, but also supplying them with the knowledge garnered through our 50 years of experience," said Rick McGuire, president of Inland Mortgage. "We want our customers to have the resources to make the right decisions."

About Inland Mortgage Corporation

Established in 1944, Inland Mortgage Corporation, a subsidiary of Irwin Financial Corporation, has developed partnerships with customers, employees and shareholders to help become one of the largest residential lenders in the country. To further its tradition of providing quality service and innovative products, Inland Mortgage created the Internet Marketing Division for prospective home buyers to take advantage of Inland's vast mortgage experience now available via the Internet. Inland Mortgage has 108 offices in 27 states, servicing a portfolio of 160,000 loans worth more than $12 billion. For more information, visit the Inland Mortgage Corporation web site at http://www.inlandmortgage.com or call (800) 284-4462.

CONTACT: McGrath/Power Public Relations

Kevin Toyama, 408/727-0351

kevin_toyama@mcgrathpowerpr.com

COPYRIGHT 1997 Business Wire
COPYRIGHT 2008 Gale, Cengage Learning