RealTime IT News

New Mortgage Shopping Service Opens

LoanHound.com, a new mortgage shopping service based in San Francisco, launched into a crowded field, hoping to distinguish itself by offering borrowers "a unique blend of online communication and traditional personal service."

Most home loan transactions involve a unique and personal "story" which must be addressed on a case-by-case basis, the company said. LoanHound recognizes the importance of the human component in addressing these transactions and has developed the site accordingly, allowing borrowers to learn what loans and rates are available, how to structure and select financing and how to proceed through the application process.

"The mortgage process consists of three stages: information gathering, evaluating alternatives and processing the loan application itself," said Jeff Glass, president of Fluential Systems Inc., creators of LoanHound. "We focus on the first two stages by providing an online messaging system, analytical tools and connections to a network of lenders who supply the advice and quotes that borrowers need."

"We enable borrowers to shop for personalized loans and quotes from multiple lenders without the inconvenience and intrusiveness of filling out loan applications or calling a succession of lenders!"

LoanHound debuts as the first of several planned online loan products from Fluential Systems Inc., a company formed by Glass in May 1998 and based in the Contra Costa Software Business Incubator.

product ."