BB&T Introduces Online Mortgage Service

Apr 04, 2002, 00:00 ET from BB&T Corporation

    WINSTON-SALEM, N.C., April 4 /PRNewswire-FirstCall/ - BB&T Corporation
 (NYSE:   BBT) today introduced its new Web-based mortgage monitoring service.
     BB&T MortgageAccess offers clients a convenient and secure tool to manage
 their mortgage online.
     Using a Web browser and desktop or portable PC, clients can track their
 current loan, escrow, tax and private mortgage insurance information.  No
 software is required.
     "BB&T MortgageAccess is a valuable service to clients who need and want
 access to their mortgage account information at any time they choose," said
 Tim Day, manager of BB&T's Mortgage Lending Servicing department.  "Our
 clients have told us they wanted a more flexible and comprehensive way to
 manage their mortgage with convenience and ease.  With BB&T MortgageAccess, we
 will meet that need."
     BB&T MortgageAccess -- a free service to BB&T customers -- offers the
 following features:
     * Current loan information -- Payment information including year-to-date
       principal and interest applied.
     * Loan activity information -- Balances and monetary activity.
     * Escrow information -- Escrow payment, balance and information on the
       bills paid from escrow (if applicable).
     * Mortgage tax information -- Property taxes and interest paid from the
       previous year.
     * Private Mortgage Insurance (PMI) -- How to determine if PMI can be
       canceled (if applicable).
     Currently, mortgage payments and other transactions may not be made
 through BB&T MortgageAccess.  However, customers can open a BB&T OnLine
 account to take care of all their online bill payment needs.  Mortgage
 payments also can be made at any BB&T branch.
     BB&T, the No. 1 mortgage originator in the Carolinas, retains servicing on
 all its mortgage loans.  Its mortgage loan portfolio is more than $30 billion.
 In 2001, its mortgage loan production was a record $10 billion.
     To register for BB&T MortgageAccess online, visit
     Winston-Salem-based BB&T Corporation (NYSE:   BBT), with $75.7 billion in
 assets, operates more than 1,100 banking offices in the Carolinas, Georgia,
 Virginia, Maryland, West Virginia, Kentucky, Tennessee, Alabama, Indiana and
 Washington, D.C.  It is the nation's 13th largest financial holding company.
     BB&T and its subsidiaries offer full-service commercial and retail banking
 and additional financial services such as insurance, investments, retail
 brokerage, corporate finance, international banking, leasing and trust.
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SOURCE BB&T Corporation