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TrueFi.com Unveils a New Generation Approach to Shopping for a Home Loan

Chicago, IL (November 8, 2011)  With the advent of the internet, more and more people are going online to research and shop for a home loan. A 2008 survey revealed that over 70% of all mortgage applicants started their search online.1 Even in a down economic market, mortgage interest rates are currently at an all time low and it is estimated that mortgage originations will total over 900 billion dollars in 2012.2

Currently, shopping for a home loan is frustrating, time-consuming, and costly. In order to get an accurate quote of what you qualify for, you have to repeatedly submit your information to brokers, lenders, and/or websites. This involves talking to multiple sales people, fielding numerous emails and phone calls, and sifting through offers to determine the best deal.

Bringing the mortgage industry to the 21st century

The internet has allowed consumers to replace the middleman in many industries. For example, you can be your own tax preparer and file your own taxes, be your own stock broker and trade your own stocks, be your own travel agent and book your own flight or hotel; you get the idea. As a result, consumers save a great deal of time and money. TrueFi simply provide consumers the same means when obtaining a home loan.

TrueFi takes the stress and guess-work out of getting a home loan by providing easy to follow, step-by-step guidance to submit your actual information once. Unlike other websites that provide teaser rates based on preliminary and unverified information, TrueFi is the only website where you receive loan offers based on your actual financial picture.

TrueFi has direct access to lenders’ rates and fees. TrueFi determines if you meet qualifying lender guidelines, the maximum amount you can borrow and searches through hundreds of programs to instantly provide you with loan offers that match your criteria. You choose the offer that is best for you and your information is sent only to the lender you have chosen. Lenders are provided with a complete, qualified loan package which allows them to offer their most competitive rates and fees and close loans faster.

“What we are doing is not revolutionary, it’s evolutionary,” said John Park, the President and COO of TrueFi. “It is time for the mortgage industry to adapt to the consumer-driven landscape where empowerment, transparency, and fairness are an expected standard, not an exception. We feel we are in position to lead the way.”

About TrueFi

TrueFi, LLC is a financial services company providing easy-to-use online tools and services that assist consumers in obtaining a home loan. Our goal is simple: Empower consumers by providing them access to a broader range of more competitive loan products while minimizing the cost of obtaining a home loan. It is our belief that given the proper tools and information, consumers can make the right decision and take control of their financial future.

Media Contact
John Park
press@truefi.com
www.truefi.com

1 “The Silver Lining in Lending - Turning Doubters into Online Believers,” Deloitte Consulting, LLP, May 8, 2008.
2 “MBA Mortgage Finance Forecast”, Mortgage Bankers Association, October 11, 2011.

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