July 29,2002
SAN JOSE, Calif.--(BUSINESS WIRE)--July 29, 2002--Myers Internet,
Inc., a leading provider of Internet infrastructure to the mortgage
industry, announced today that it has been profitable for four
consecutive quarters, with sales and profits increasing every quarter.
In addition, the company announced that it is entering the Real Estate
Agent and Office Market Place.
"In a time when most companies are struggling to survive, our
business model has proven to be sustainable and profitable. The Myers'
strategy of providing robust, highly-functional, low-cost web sites,
along with powerful back office technology and lead generation options
is proving to be a winning combination," said Warren H. Myer, CEO of
Myers Internet, Inc.
"We have spent the last 7 years building the best technology in
the market place that is easy to use, affordable and helps saves real
estate professionals both time and money. In the mortgage broker space
we currently hold a 40% market share of all mortgage broker web sites.
In addition, we believe that we are capturing over 60% of all new
mortgage broker web sites, while at the same time experiencing very
high client retention rates.
"Our entry into the real estate web site market will provide us
with substantial growth opportunities over the next two years," said
Myer, "The majority of real estate agents and offices do not have
robust, highly-functional web sites and we hope to become a leading
player in this market."
Myers Internet, Inc. is the leading provider of Internet
infrastructure to the mortgage industry. Myers' solutions allow for a
completely electronic transaction, connecting consumers with
originators and originators with lenders and service providers. Using
Myers' Webwiz technology, an originator can build a state-of-the-art
customized Web site in minutes. Myers' Originator Network enables
originators to shop rates, process loans and connect to lenders
electronically - resulting in faster processing and reduced costs.
Myers' electronic community is comprised of 7,000 brokerage companies
with more than 30,000 originators. Its premier Web sites,
OriginatorNetwork.com, Websuite.com, BestRate.com and LoanApp.com are
among the best-known mortgage-related sites. For more information
visit www.websuite.com and www.myersinternet.com.
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