SOURCE: LoanInsights

September 18, 2007 08:07 ET

Newly Launched LoanInsights, Inc. Revolutionizes Mortgage Process, Leveling Playing Field for Consumers

Unique Online Mortgage Search Platform Automates Mortgage Broker Functions, Offering Home Buyers Total Transparency, Instant Access to Wholesale Rates

SAN FRANCISCO, CA--(Marketwire - September 18, 2007) - As the nation continues to grapple with the challenges arising out of the sub-prime mortgage crisis, a revolutionary new mortgage search platform and provider, LoanInsights, Inc., is now leveling the playing field for homebuyers by helping them find the best rates they qualify for through a free, web-based search platform located at

The easy-to-use LoanInsights platform essentially automates the functions of a mortgage broker -- assuming a broker could contact every single bank to identify the best deal for the homebuyer, and do so in a matter of just seconds. In fact, for a mortgage broker to move so quickly and efficiently would be virtually impossible, even given a week or more of time, but that is precisely what the LoanInsights platform does for consumers 24/7 on the web.

LoanInsights' new Custom Mortgage Search application is designed to search and optimize results for any and every possible loan scenario, giving homebuyers direct access to wholesale lending rates and guidelines (previously available only to mortgage professionals). Equally important, LoanInsights is championing the needs and interests of borrowers by empowering them with an unmatched level of openness and transparency in the mortgage loan process. For example, the LoanInsights search application displays only those offers for which the borrower likely qualifies. In addition, with LoanInsights there are no hidden fees or bait-and-switch pitches that benefit the mortgage provider, not the consumer.

"With our new mortgage platform, we have put the interests of the consumer front and center, where they should be," said Jonathan Strike, Co-Founder, President and CEO of LoanInsights. "Just as the online travel agencies like Expedia revolutionized the travel industry a decade ago, LoanInsights is now giving homebuyers and their real estate partners direct access to the critical loan information, rates and guidelines that formerly were controlled by mortgage professionals."

Strike continued: "Expedia eliminated the middleman in the travel business, greatly benefiting travelers, and LoanInsights is similarly putting the power and choice directly in the hands of homebuyers. In the process, LoanInsights is creating significantly greater efficiencies and transparency in the mortgage process, while virtually assuring the best deal possible for the borrower," he said.

Unlike other web-based services that offer generic "one rate fits all" quotes, LoanInsights' patent-pending technology screens the consumer's profile against multiple lender guidelines to offer tailored rates for the borrower's unique situation. Once the borrower has reviewed the quotes, she/he can contact LoanInsights via the website to actually apply for the mortgage.

Other important features of the LoanInsights mortgage platform include:

-- LoanInsights uses 32 factors to validate a mortgage provider's products for which a borrower likely qualifies.

-- The LoanInsights web-based platform generates a combination of loan results, allowing homebuyers to avoid paying mortgage insurance and thus reducing monthly payments. The loans are displayed in the optimal combination, regardless of whether they come from different lenders.

-- LoanInsights can issue a property-specific pre-approval letter for all purchase transactions.

-- LoanInsights eliminates the need to pay out hefty commissions to traditional loan officers, thus passing on those savings to consumers.

-- In addition to the direct access to wholesales rates and guidelines, homebuyers also have access to interactive tools and calculators at

LoanInsights will be launching an updated version of its website in the coming weeks as it continually enhances and expands it online service capabilities.

About LoanInsights

LoanInsights, Inc. launched its Beta site in 2006 with the goal of reducing the inefficiencies in the mortgage marketplace by providing greater transparency, accuracy, and cost-efficiencies into the mortgage origination process. By essentially automating many of the functions of a traditional mortgage broker or loan officer, LoanInsights' Custom Mortgage Search technology is able to help consumers determine how and where they can obtain a mortgage for which they actually qualify. With this free service, LoanInsights has revolutionized the mortgage process by empowering consumers with information that results in lower rates, fees, and closing costs. More information is available on the web at

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