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FOR IMMEDIATE RELEASE
Contact: Brad
Estrin
Executive Vice President
Sales & Marketing
(800) 395-7100, ext. 7227
bestrin@suddath.com
SUDDATH TO OFFER UNIQUE MORTGAGE SERVICE ON-LINE
Jacksonville, Florida, July 11, 2000 -- Suddath Relocation Services announced
today a strategic partnership with HomeSide Lending, Inc., one of the nation's
top 10 mortgage originators and servicers, to offer a dramatically streamlined
loan application and online mortgage approval in as little as 10 minutes. The
service, called "Transfer-e-Loan," will be offered via Suddath's
website at www.suddath.com by mid-August and will feature HomeSide's proprietary
mortgage platform powered by Fannie Mae's technology. The alliance was confirmed
by George W. Doyle, Sr. Vice President of Suddath Relocation Services.
"Transfer-e-Loan is a wonderful opportunity to bring added value to our
relocation services and is consistent with our strategic vision to deliver
greater convenience, speed and savings to our customers," stated Doyle.
Transfer-e-Loan, which will significantly reduce the time and cost to originate,
process and close mortgage loans, offers some unique benefits over traditional
and many other automated-lending environments such as:
* Secure, online full loan approval in 10 minutes.
* Loan application data fields reduced by more than 50 percent.
* Consumer doesn't need to select a product prior to underwriting --
Transfer-e-Loan's underwriting process evaluates and returns all eligible
products with all available rate and point combinations.
* Consumers can receive approval even if they haven't yet selected a home to
purchase.
* Transfer-e-Loan's solution utilizes risk-based pricing which may result in
higher approval ratios.
* Consumers have the ability to select their own closing date (in as little
as 5 days).
* Competitive mortgage rates and a variety of loan types can be selected,
compared and priced on the site with no fee.
Suddath Relocation Services is currently the only relocation company offering
this revolutionary service and one of three inaugural partners, including Bank
One and BET (Black Entertainment Television), that will incorporate HomeSide's
online solution into their product and service offerings. In addition to the
online mortgage service, Suddath's online services-based website provides
customers with shipment tracking, order initiation, claims processing, moving
tips, new city information, tax advantaged relocation services, relocation
calculators and answers to customer's most frequently asked questions, among
other services.
About Suddath Relocation Systems
Suddath Relocation Systems, a subsidiary of The Suddath
Companies, provides
corporate relocation services,
household goods
transportation,
freight services,
facility and
company equipment moving,
warehousing and logistics services to businesses and consumers worldwide.
Established in 1919, The Suddath Companies is a diversified group of domestic
and international moving service companies. These affiliates specialize in worldwide
corporate
employee relocation,
residential
moving,
warehouse and
3pl and logistics
management. In addition to its international services to over 100 countries,
Suddath operates in 16 locations throughout the United States as one of
United Van Lines’ largest agents. The Suddath Companies has over 1,200 employees
nationwide handling over 40,000 shipments annually. Suddath is also the
“Official Transportation Sponsor” of Disney’s “Celebrate Mickey: 75 InspEARations” statue tour. For more information, visit
their web site at www.suddath.com.
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