LOS ANGELES, California – November 1, 2005 – Announcing the brand new R.L.S, Refinance Loan Search.com , one of the leading online lending services exchange companies in the US , aims to provide better and newer services for borrowers. With the new web site that features clear, real time loan information, user-friendly categories, quick access to online services, easy tools to help customers find the right loan for their needs, and an “I need to…” section for most frequently performed tasks, borrowers can now enjoy the convenience of a one-stop-shop destination for all their loan needs.

As a financial institution, to goal of Refinance Loan Search.com is to provide their customers with innovative loan programs, superior customer service and competitive mortgage rates. The company offers three major services: refinance, purchase and home equity loan. Borrowers can choose up to 4 different lenders to help them decide on a mortgage loan. There is a wide variety of refinance loan options and tailored programs to meet their individual economic needs. For those who wish to purchase a new home, there are quick and easy loans. As part of their commitment to service, the new web site enables borrowers to obtain a free online application form to help them apply for a new home. The company also provides current account information as well as other timely and important information to assist its existing customers in the home financing process. Also available is the unique home equity loan program that provides a secure, convenient and confidential on-line home equity loan application process at the best rates and terms available in the mortgage industry today.

R.L.S also announces new approved loan amounts that conform to the guidelines established by Fannie Mae and Freddie Mac, which set up the maximum loan amount, down payment, borrower credit & income requirements, and suitable properties.

The company also offers a training program for real estate licensed professionals. The registration for interested applicants is free. Trainees will be given free mortgage workshops. Also, a coordinator will be assigned to assist and teach them on a one on one basis.

R.L.S is committed to give its customers excellent choices, convenience and great value through ICT or information and communication technology, which has been the company’s primary tool for more than 17 years. The purpose of developing the new R.L.S is to provide customers with a quick and convenient access to the company’s knowledgeable home loan experts who can help give them reliable and straightforward answers to their home loan questions. Aside from the new web site, borrowers can easily contact a home loan expert by phone or in person. C onsultation with a home loan expert is free and is available 6 days a week (schedule is posted on the website). For consultation schedules and further information please visit www.refinanceloansearch.com.

The investigation into mortgage refinance approval using people with bad credit reveals that the key lies with where they apply for the mortgage refinance. For example, many people with bad credit visited conventional banks or credit unions to apply for a mortgage refinance but were declined. These same people could immediately apply with another mortgage broker, and be approved for an "A paper" mortgage.

The reason seems to be that banks and credit unions have specific underwriting guidelines and specific home loan and mortgage refinance programs. If the borrower does not happen to match the conventional bank or credit union's underwriting guidelines due to bad credit, they didn’t qualify for the mortgage refinance program offered. Sometimes the conventional bank or credit union would approve the borrower with bad credit but at a much higher rate and/or adding several points to the closing costs.

This seems to present a stumbling block for many with bad credit seeking new home loans or to refinance their existing mortgage. Many people stopped trying to get approved after being rejected due to bad credit, interpreting the conventional bank or credit union's rejection to mean they did not qualify for a home loan or mortgage refinance, period. The disqualification because of bad credit also caused embarrassment and apprehension to try again.

But, try again is exactly what the borrower with bad credit should do. It is not advised to apply all over town for the mortgage refinance hoping someone will say yes. This is putting the cart before the horse and may result in wasted time and could lower the already bad credit score. Though this is a matter of debate that we have not confirmed, most mortgage professionals we spoke with strongly believed that pulling multiple credit reports decreased the credit score.

The borrower needs to gain access to multiple loan programs and then apply for the specific mortgage program they will be approved for. We found the existence of literally thousands of mortgage refinance programs for people with bad credit and a wide variety underwriting guidelines for consumers with less then perfect, bad credit, high debt to income ratios, no equity, missed mortgage payments, recent bankruptcy, and hard to document income like self-employed or commission sales.

So for those with bad credit that want to refinance their mortgage, there are mortgage brokers and that represent dozens, if not hundreds of specialized lenders that offer mortgage refinance programs with approval guidelines based on an individual's unique situation (including bad credit). If they cannot get you approved today, they generally offer advice on what can be done in the short term to improve the bad credit enough to qualify.

The federal bank, thrift, and credit union regulatory agencies issued guidance that promotes sound risk management practices for home equity lines of credit and loans. The agencies have found that in some cases credit risk management practices for home equity lending have not kept pace with the product's rapid growth and eased underwriting standards.

The rise in home values, coupled with low interest rates and favorable tax treatment, has made home equity lines of credit and loans attractive to consumers. To date, delinquency and loss rates for home equity portfolios have been low, due at least in part to the modest repayment requirements and relaxed structures of this lending. However, Refinance Loan Search.com have identified risk factors that, along with vulnerability to interest rate increases, have attracted scrutiny, including:

• Interest-only features that require no amortization of principal for a protracted period;
• Limited or no documentation of a borrower's assets, employment and income;
• Higher loan-to-value (LTV) and debt-to-income ratios;
• Lower credit risk scores for underwriting home equity loans;
• Greater use of automated valuation models and other collateral evaluation tools for the development of appraisals and evaluations; and
• An increased number of transactions generated through a loan broker or other third party.

Refinance Loan Search.com note that active portfolio management is especially important for financial institutions that project or have already experienced significant growth or concentrations in higher risk products, such as high LTV, limited documentation and no documentation interest-only, and third-party generated loans.

Like most other lending activity, home equity lending can be conducted in a safe and sound manner with appropriate risk management systems. This guidance outlines the agencies' expectations for sound underwriting standards and effective credit risk management practices for a financial institution's home equity lending activity.