Message #15 From:
Stock News Bot Date: October 24, 2005 02:30:00 AM
LINN News LION Signs New Precision MTS Customers
SEATTLE--(BUSINESS WIRE)--Oct. 24, 2005--LION, Inc. (OTCBB:LINN), a leading provider of online lead generation and advanced business solutions that streamline the mortgage fulfillment process, today announced that it has executed contracts to deliver its Precision MTS productivity suite to three new customers, bringing the total number of customers using LION's proprietary bundled product suite to nine. Precision MTS is a suite of products that consists of corporate wholesale and retail websites, productivity software, interest risk management technology, and a product eligibility and pricing engine that provides access to real-time, risk-based, product and price information to manage loan registration and interest rate lock transactions. The product suite is a productivity tool that is designed to increase wholesale and retail customer traffic for lenders while lowering overall transaction costs and providing LION with more revenue opportunities per loan transaction, including higher revenues from loan locking fees. The Company's next implementation, scheduled for early November which will include a Mortgage 101 component developed for Spanish speaking consumers, will represent the most comprehensive suite of products installed to date.
"We have seen this powerful product gain traction throughout the year, first with the successful launch and conversion of our beta customers, then adding new customers to the platform with our most recent customer addition signing up to receive the full complement of products currently offered in the product suite," stated Randall D. Miles, Chairman & CEO of LION, Inc. "The Precision MTS product is the strategic productivity platform resulting from the integration of our acquisitions, and represents enormous growth potential for LION, both from increasing the number of customers using our products and services as well as increasing the revenue opportunities per loan transaction.
"With the product platform in place and our customer base growing, we are focusing on driving the distribution channel for this product by investing in our sales organization as well as developing channel partners. We are very excited about the near and long-term growth prospects of this product and its potential to generate incremental revenue."
About LION, Inc.
LION, Inc. is a leading online mortgage lead generator that also provides advanced business solutions that streamline the mortgage loan fulfillment process in the over $2 trillion mortgage industry. From Leads to Loans to Capital Markets, LION offers consistent, seamless business solutions to consumers, brokers, realtors, originators and lenders. LION provides an integrated technology platform offering online loan productivity, mortgage pipeline hedging and risk management, software development and data communication tools. LION's business to consumer Internet portal, Mortgage101.com, attracts over 1 million unique visitors that connect through LION's proprietary network of over 12,000 mortgage brokers, 55,000 realtors and more than 200 lenders. Through its subsidiary, Tuttle Risk Management Services LLC, LION provides hands-on mortgage pipeline risk management for financial institutions that originate and then sell loans into the secondary market. LION has offices in Washington, California and Colorado and has been named by Deloitte & Touche LLP as one of the 50 fastest growing technology companies in the state of Washington for 2004 and 2005. For more information about LION, please visit www.lioninc.com
