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e-Net Financial.com Corp. Sets New Production Records
COSTA MESA, Calif., Aug 3, 2001 (BUSINESS WIRE) -- Vincent Rinehart, president
& CEO of e-Net Financial.com Corp. (OTC BB: ENNT) (Frankfurt Exchange:925558.f)
announced record mortgage closings at American Residential Funding Inc. "AMRES"
(an ENNT subsidiary) for the three month period ended June 30, 2001.
"For the month of June, AMRES set a new record, closing over $57.6 million in
mortgage loans. This is a 254% increase over June 2000, and brings the total
loans funded for the most recent 90 days (April-June) to over $150 million,"
stated Rinehart.
"In addition, the month just ended, July, has also finished very strong, with
estimations exceeding $60 million in mortgage volume, establishing a great
beginning for the new fiscal year, the first quarter being May-July. New branch
applications continue to come in at a record level, bringing expectations for
continued expansion," said Jeff Hemm, president of AMRES.
To help accommodate its rapid growth, e-Net has negotiated, on behalf of AMRES,
an additional 5,700 square feet of office space on the same 7th floor as the
corporate offices. Additional marketing personnel are expected to be added, and
a new "Corporate Loan Processing Center" has been established, with seasoned
professionals joining AMRES mid-August, for additional revenue as well as branch
support.
Expidoc.com has hired additional staff, and is expected to finish July exceeding
300 orders for their signing service, a new record for the company.
"Expidoc.com`s loan document signing service has benefited with the drop in
interest rates and the increased number of borrowers using the Internet," stated
Rinehart.
BravoRealtyOnline now serves three counties in Southern California: Ventura, Los
Angeles and Orange. David Villarreal said: "The combination of a branch of
BravoRealtyOnline next to a branch of American Residential Funding has been well
received in the real estate community."
The staff at e-Net continues to work on the 10-KSB, and expects to release it in
a couple of weeks. Due to the amount of activity and the complexity of the
transactions, it has been more time consuming than management had anticipated.
"We are extremely pleased by the extra effort and hard work by the very
dedicated staff at e-Net," said Rinehart.
This news release may contain forward-looking statements that involve risks and
uncertainties, including American Residential Funding Inc.`s ability to maintain
its licensing approvals in multiple states and its ability to expand its branch
operations. Operational results of American Residential Funding Inc. may not be
indicative of future results or the results of e-Net Financial.com Corp. for the
full fiscal year. For a discussion of factors which could impact e-Net
Financial.com Corp`s financial results, or the results of its wholly owned
subsidiaries, and cause actual results to differ materially from those in
forward-looking statements, refer to e-Net`s recent filings with the SEC,
particularly the Jan. 31, 2001 Form 10-QSB filed March 22, 2001. e-Net assumes
no obligation to update the forward-looking information contained in this news
release and encourages all potential investors to do their own due diligence and
suitability analysis before any investment is made.
CONTACT: e-Net Financial.com Corp.
Vincent Rinehart, 714/866-2100
www.e-netfinancial.com
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KEYWORD: CALIFORNIA
INDUSTRY KEYWORD: BANKING
REAL
ESTATE
SOURCE:
e-Net
Financial.com