ROANOKE TIMES 

                         Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: FRIDAY, July 1, 1994                   TAG: 9407010099
SECTION: BUSINESS                    PAGE: A15   EDITION: METRO 
SOURCE: 
DATELINE:                                 LENGTH: Short

MORTGAGE LOANS BY FAX

Crestar Mortgage Corp. has introduced an automated system that prequalifies home buyers for a mortgage loan by fax within 10 minutes. The system, known as the Crestar Mortgage Connection, is available 24 hours a day, seven days a week.

For consumers, prompt pre-qualification provides an assessment of their purchasing and financing potential, as well as a head start on the mortgage approval process, said Marc C. Smith, president of Crestar Mortgage.

Crestar recently introduced a Lock and Shop Program, which permits home buyers to lock in an interest rate for 30 days while they shop for a home, and the Crestar Quick Approval Mortgage program, which speeds the mortgage approval process.

-Staff report 


 by CNB