NET LIFE Financial Processing, Inc. ("NET LIFE"), a wholly owned subsidiary of FastFunds Financial Corporation (OTCQB: FFFC), NET LIFE Financial Holdings ("NET LIFE Financial") and its joint partners, One Resource Group ("ORG") and Epic Financial Corporation ("EPIC") announced today it has successfully launched its innovative LCMO mortgage product. NET LIFE Financial operations reports that NET LIFE launched its' new platform and opened the doors to residential and commercial mortgage applications primarily submitted through select mortgage brokers and realtors. Over 2,000 applications were received within the first hours of launch and an estimated 6,000 were received during the first day. The strong demand has required installation of additional servers to process the capacity and in addition with ORG and its' insurance carriers are ramping up their staff accordingly.
Steve Andrews , NET LIFE Financial's Marketing Director stated: "As the need for a mortgage is in such high demand, we were expecting a substantial number of applications but not nearly as many as we received. This proves our business model is on track and we are excited to bring our products to market."
The Company believes a NET LIFE LCMO(R) (Life Collateralized Mortgage Obligation) could substantially improve America's banking and mortgage crisis. A NET LIFE LCMO(R) is a residential, business or corporate real estate mortgage which is not based on credit history; only on the collateral. All that is required for which to qualify is: (a.) that you are healthy, (b.) that the property maintains and sustains its stated value and (c.) that you have the income to pay your mortgage. All NET LIFE LCMO(R) mortgages are processed, managed and serviced exactly like a conventional mortgage without all of the red-tape qualification. NET LIFE has only reinvented the "vehicle"; not the "wheel" it rides upon.
A NET LIFE LCDO(R) (Life Collateralized Debt Obligation) is our second revolutionary product which has been formulated specifically for individuals and businesses seeking to raise capital. A NET LIFE LCDO(R) is an asset-backed lending process which is secured by the underlying collateral. A NET LIFE LCDO(R) is not based on credit history; only on the collateral. All that is required for which to qualify is: (a.) that you are healthy, (b.) that the asset(s) maintain and sustains its stated value and (c.) that you have the income to pay your loan. All NET LIFE LCDO(R) loans are processed, managed and serviced exactly like a conventional note or loan without all of the red-tape qualification. NET LIFE has only reinvented the "vehicle"; not the "wheel" it rides upon.
ORG and EPIC will market and process the NET LIFE product-line (LCMO and LCDO) including the life insurance portion through their life insurance carriers and agents in all fifty states, including asset management organizations and independent financial advisors. Marketing strategies will include insurance agents, mortgage brokers, realtors and other independent financial advisors throughout the United States.
About FastFunds Financial Corporation FastFunds Financial Corporation is a holding company that is publicly traded on the Over-the-Counter QB under the symbol "FFFC." The Company currently operates in the financial services industry.
About NET LIFE Financial HoldingsNET LIFE Financial Processing, Inc., a wholly owned subsidiary of FFFC, is a development stage company formed in 2013 and recently acquired the assets related to the processing and servicing of loans generated from NET LIFE Financial Holdings Trust (www.NETLIFEFinancial.com). NET LIFE has developed unique financial products principally for the mortgage industry.
About One Resource GroupOne Resource Group (ORG) (www.orgcorp.com) is a Brokerage General Agent (BGA) working in the wholesale insurance and financial service industry, bringing insurance companies and agents together, operating in all 50 states. In 2008 ORG was the recipient of the Ernst and Young Midwest entrepreneurial winner of the year for Midwest Region. ORG is an industry leader representing over 100 life insurance carriers, and distributes products through 27,000 Financial Advisors and institutional accounts providing turnkey financial service platform consisting of Life Insurance, Annuity, Disability Income, Long Term Care, Worksite Marketplace Products, Group Products, Solo and Group 401(k) Products, Dental and Vision, Medicare Supplement and Critical Illness.
Epic Financial Corporation Epic Financial Corporation (www.epicsmartpay.com) is a diversified financial service company with four divisions encompassing various sectors in the financial service industry to include state of the art debt management software for consumers and financial professional, wholesale insurance services, financial literacy and commercial loan sale advisory services. Epic and its affiliates focus on CPAs, financial advisors, broker dealers, insurance companies, professional associations, mid-sized mortgage bankers, independent community banks, and employee benefit platforms to deliver this unique product and service platform
This news release may include "forward-looking statements" regarding FastFunds Financial Corporation, and its subsidiaries, business and project plans. Such forward-looking statements are within the meaning of Section 27A of the Securities Act of 1933, as amended, and section 21E of the United States Securities and Exchange Act of 1934, as amended, and are intended to be covered by the safe harbor created by such sections. Where FastFunds Financial Corporation expresses or implies an expectation or belief as to future events or results, such expectation or belief is believed to have a reasonable basis. However, forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by such forward-looking statements. FastFunds Financial Corporation does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
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NET LIFE Financial Processing, Inc.
SOURCE FastFunds Financial Corporation