BEVERLY HILLS, Calif., July 11, 2002 (PRIMEZONE) -- GoLoan, the online mortgage services company that enables residential real estate sales professionals to earn loan origination fees, has passed an important milestone by signing up its 1,000th member Realtor(r) since the company unveiled its services last October.
Adi Harari, founder and president of GoLoan Realtor(r) Direct, also said the company's volume of home loans jumped significantly in the second quarter.
"We're delighted that GoLoan is so well received by Realtors throughout California. Every day we get compliments from our member Realtors who are enjoying success with our online loan programs. We also work with agents and brokers to continuously improve our online services. We built GoLoan to be user-friendly from the Realtor's perspective. This makes it easy for us to make improvements," Harari said.
"As a result of the implementation of new systems and increasing flexibility in our product lines -- such as second trust deeds -- we have increased our volume of loans by 54 percent in the quarter just ended compared to the first quarter of this year," he said.
GoLoan is a subsidiary of Delta Home Loans Inc., a Beverly Hills, Calif.-based mortgage banking company.
GoLoan offers competitive loans in all credit-risk categories at wholesale rates. Real estate agents may choose from prime, sub-prime and equity loans to provide their customers with the best financing options regardless of market conditions. This assures real estate brokers and their agents that their customers will obtain the best possible home financing to fit their needs. All GoLoan originations are fully compliant with the Real Estate Settlement Procedures Act and all state and federal regulations.
Within 90 seconds after the real estate sales agent electronically submits GoLoan's simple, one-page questionnaire, GoLoan evaluates the buyer's creditworthiness and reports back to the agent with a loan approval decision. The same one-page GoLoan form also enables GoLoan to give real estate agents loan pre-approvals for borrowers who have not yet selected a property.
GoLoan rewards participating brokers with the entire loan origination fee, which can total up to 1.5 percent of the loan amount. GoLoan is winning praise from brokers statewide.
"I'd rather work with GoLoan Mortgage Banking than any other mortgage provider because of the compensation and the customer service. GoLoan understands the value of the Realtor's relationship with the client," says Mario Preza, Broker and Owner of Home 4 Less, a Daly City, Calif., residential real estate brokerage firm.
Anthony Degasperis of Anthony Degasperis Realty in Del Mar, Calif., agrees: "When you need to get hold of someone at GoLoan they're always there. The financial incentive is good, too, especially in these times of decreasing commissions on the transaction side. You can pick it up on the loan side," he said.
"GoLoan's rates are competitive, too. I've had a couple clients shop them and GoLoan compares well," Degasperis said.
Residential brokers can enroll simply by logging on to the GoLoan website. They're up and running the same day. GoLoan requires no up-front costs, lengthy or exclusive contracts, monthly charges or cancellation fees. No training is required.
Experienced GoLoan loan professionals handle every aspect of the lending process from approval to closing.
GoLoan has drawn upon more than a decade of mortgage banking experience to create a RESPA-compliant, online system that allows brokers to participate in the loan process using their existing skills to close the transaction.
GoLoan's services currently are available only in California. Founded in 1989, Delta Home Loans is a mortgage banking company providing consumer, real estate and business-to-business financial services including residential mortgages, loan processing, closing services and other financial products.
For more information about GoLoan, visit www.GoLoan.com or call Delta Home Loans Inc. at (800) 222-0668.