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LION Partners with Capital Mortgage Banking Corp to Enhance Online Mortgage Services

Strategic Insights

— 1 min read

Lenders Interactive Online Network (LION) has signed a significant agreement with Capital Mortgage Banking Corp., a rapidly growing mortgage lender with 20 branches and 370 associates in Washington, Oregon, and California. As per the agreement, LION will provide its online mortgage rate, fee, and program information to Capital Mortgage Banking Corp.'s associates and branches. This partnership aims to enhance the online mortgage services provided to Capital Mortgage Banking Corp.'s customers, making it more efficient for the company to offer competitive mortgage rates and services.

Key Takeaways:

  • LION will provide its online mortgage rate, fee, and program information to Capital Mortgage Banking Corp.'s associates and branches, enhancing the company's online mortgage services.
  • Capital Mortgage Banking Corp. has grown rapidly to 20 branches, 60 processors, and 370 associates in Washington, Oregon, and California.
  • The company's mortgage loan volume was $13.5 million in August and is targeted to be $15 million in September.
  • LION provides wholesale mortgage rate, fee, and program information to mortgage brokers nationwide through its password-protected, subscription-based website.
  • The addition of Capital Mortgage Banking Corp. branches marks another example of market acceptance for LION's Internet-based information system for mortgage originators.
  • LION has more than 3,400 mortgage broker members and is rapidly adding new members at a rate of about 10% per month.
  • Over 350 wholesale mortgage lenders participate in the LION service, and the company ranks first in the nation with wholesale lender Web sites and third with mortgage broker Web sites.

Statistics:

  • Capital Mortgage Banking Corp. has 20 branches and 370 associates in Washington, Oregon, and California.
  • The company's mortgage loan volume was $13.5 million in August and is targeted to be $15 million in September.
  • LION has more than 3,400 mortgage broker members, increasing at a rate of about 10% per month.
  • Over 350 wholesale mortgage lenders participate in the LION service.
  • LION ranks first in the nation with wholesale lender Web sites and third with mortgage broker Web sites.

Sources:

  • PR Newswire, "Lenders Interactive Online Network Signs Agreement with Capital Mortgage Banking Corporation", September 14, 1998.
  • LION's website, "About LION", .
  • Plenum Communications Inc.'s website, "Plenum Communications Inc.", .

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