NEW YORK, March 26, 2013 /PRNewswire/ -- 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®
(Life Collateralized Mortgage Obligation)
could substantially improve America's banking and mortgage
crisis. A NET LIFE LCMO® 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® 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®
(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® is an asset-backed lending
process which is secured by the underlying collateral.
A NET LIFE LCDO® 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® 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 Holdings
NET 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 Group
One 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
FORWARD-LOOKING STATEMENTS
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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For
Further Information Contact:
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NET LIFE
Financial Processing, Inc.
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support@netlifefinancial.com
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SOURCE FastFunds Financial Corporation