SOURCE: FastFunds Financial Corp.
NEW YORK, NY--(Marketwire - Mar 8, 2013) - NET LIFE Financial Processing, Inc. ("NET LIFE"), a wholly owned subsidiary of FastFunds Financial Corporation (OTCQB: FFFC), today announced its joint partnership with One Resource Group ("ORG") and Epic Financial Corporation ("EPIC") to launch two new revolutionary financial instruments; the NET LIFE LCMO® and the NET LIFE LCDO® products.
The Company believes a NET LIFE LCMO® (Life Collateralized Mortgage Obligation) could substantially improve America's banking and mortgage crisis. A NET LIFE LCMO® is a residential, business or corporate real estate mortgage which is not based on credit history; only on the collateral. All that is required for which to qualify is: (a.) that you are healthy, (b.) that the property maintains and sustains its stated value and (c.) that you have the income to pay your mortgage. All NET LIFE LCMO® mortgages are processed, managed and serviced exactly like a conventional mortgage without all of the red-tape qualification. NET LIFE has only reinvented the "vehicle"; not the "wheel" it rides upon.
A NET LIFE LCDO® (Life Collateralized Debt Obligation) is our second revolutionary product which has been formulated specifically for individuals and businesses seeking to raise capital. A NET LIFE LCDO® is an asset-backed lending process which is secured by the underlying collateral. A NET LIFE LCDO® is not based on credit history; only on the collateral. All that is required for which to qualify is: (a.) that you are healthy, (b.) that the asset(s) maintain and sustains its stated value and (c.) that you have the income to pay your loan. All NET LIFE LCDO® loans are processed, managed and serviced exactly like a conventional note or loan without all of the red-tape qualification. NET LIFE has only reinvented the "vehicle"; not the "wheel" it rides upon.
ORG and EPIC will market and process the NET LIFE product-line (LCMO and LCDO) including the life insurance portion through their life insurance carriers and agents in all fifty states, including asset management organizations and independent financial advisors. Marketing strategies will include insurance agents, mortgage brokers, realtors and other independent financial advisors throughout the United States.
ORG president, Todd Stewart, stated, "Since we already had a partnership with EPIC and the synergy between EPIC and ORG complement each other so well it was only logical to join forces with NET LIFE." Stewart, also indicated, "ORG has an exclusive national agreement with NET LIFE to manage the life insurance administration and process of the LCMO/LCDO platform."
Epics CEO, Randy Sienkiewicz, stated: "The platform that has been assembled between the three organizations will provide needed missing tools for the financial service professional in order to create and change economic behavior for better results and interchange with the consumer."
About FastFunds Financial Corporation
FastFunds Financial Corporation is a holding company that is publicly traded on the Over-the-Counter QB under the symbol "FFFC." The Company currently operates in the financial services industry segment with a single credit card services portfolio. The Company is currently seeking new business opportunities to diversify and complement our current services and products, enhance our technical capabilities or otherwise offer growth opportunities for our stockholders.
About NET LIFE Financial Holdings
NET LIFE Financial Processing, Inc., a wholly owned subsidiary of FFFC, is a development stage company formed in 2013 and recently acquired the assets related to the processing and servicing of loans generated from NET LIFE Financial Holdings Trust (www.NETLIFEFinancial.com). NET LIFE has developed unique financial products principally for the mortgage industry.
About One Resource Group
One Resource Group (ORG) (www.orgcorp.com) is a Brokerage General Agent (BGA) working in the wholesale insurance and financial service industry, bringing insurance companies and agents together, operating in all 50 states. In 2008 ORG was the recipient of the Ernst and Young Midwest entrepreneurial winner of the year for Midwest Region. ORG is an industry leader representing over 100 life insurance carriers, and distributes products through 27,000 Financial Advisors and institutional accounts providing turnkey financial service platform consisting of Life Insurance, Annuity, Disability Income, Long Term Care, Worksite Marketplace Products, Group Products, Solo and Group 401(k) Products, Dental and Vision, Medicare Supplement and Critical Illness.
Epic Financial Corporation
Epic Financial Corporation (www.epicsmartpay.com) is a diversified financial service company with four divisions encompassing various sectors in the financial service industry to include state of the art debt management software for consumers and financial professional, wholesale insurance services, financial literacy and commercial loan sale advisory services. Epic and its affiliates focus on CPAs, financial advisors, broker dealers, insurance companies, professional associations, mid-sized mortgage bankers, independent community banks, and employee benefit platforms to deliver this unique product and service platform
This news release may include "forward-looking statements" regarding FastFunds Financial Corporation, and its subsidiaries, business and project plans. Such forward-looking statements are within the meaning of Section 27A of the Securities Act of 1933, as amended, and section 21E of the United States Securities and Exchange Act of 1934, as amended, and are intended to be covered by the safe harbor created by such sections. Where FastFunds Financial Corporation expresses or implies an expectation or belief as to future events or results, such expectation or belief is believed to have a reasonable basis. However, forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by such forward-looking statements. FastFunds Financial Corporation does not undertake any obligation to update any forward-looking statement, except as required under applicable law.