|
Monday October 1, 3:10 am Eastern Time Press Release SOURCE: e-Net Financial.com Corp. e-Net Financial.com Corp. Subsidiary Continues Record Production FannieMae Application COSTA MESA, Calif.--(BUSINESS WIRE)--Oct. 1, 2001--Vincent Rinehart, president & CEO of e-Net Financial.com Corp. (OTCBB:ENNT - news; Frankfurt Exchange:925558.f) today announced the continued growth and expansion of their largest subsidiary, American Residential Funding Inc. (AMRES). Jeff Hemm, president of AMRES, reported: ``The loan volume for the month of August reached a new record amount of $67,700,000. This is substantially higher than the Aug. 2000 month of $16,130,000, an increase of 319%.`` ``This is primarily due to an increase in `Net Branches`, of which total branches under AMRES is now at 200; also a record. Our goal remains to have 300 Net Branches in the next 120 days. The home real estate market remains strong, with refinancing adding additional business. For the first eight months of 2001, AMRES has arranged over 2,300 loans. The month of August resulted in over 400 loans funded, also a record number of loans,`` said Hemm. Additionally, Rinehart announced: ``AMRES has recently met with officers of FannieMae, and have agreed to rapidly process the application to become a Seller/Servicer with FannieMae. This would establish electronic loan approvals (Desktop Underwriting, `DU`) at corporate offices, and electronic origination software (Desktop Originator, `DO`) in each of the branches of AMRES.`` Rinehart went on to say: ``We are looking forward to providing our borrowers the finest service and rates available anywhere. With the use of FannieMae`s loan software, as well as expanding our Mortgage Banking division, AMRES will be producing additional revenue from each originated loan funded by AMRES. It is expected to begin operations with FannieMae during the next fiscal quarter.`` This news release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 regarding future results of operations and market opportunities that are based on e-Net Financial.com`s current expectations, assumptions, estimates and projections about the company and its industry. Investors are cautioned that actual results could differ materially from those anticipated by the forward-looking statements as a result of risks and competition and other factors. These factors, along with other potential risks and uncertainties are discussed in e-Net Financial.com`s reports, as well as their subsidiaries, and other documents filed with the Securities and Exchange Commission, especially the 10-KSB filed Aug. 16, 2001, and recent Quarterly reports. 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. |
|
| aus der Diskussion: | E-NET (925558) News sind da!!! |
| Autor (Datum des Eintrages): | gino (01.10.01 09:57:01) |
| Beitrag: | 1 von 5 (ID:4535722) |
| Alle Angaben ohne Gewähr © wallstreetONLINE | |