VALHALLA, N.Y. Joining the online mortgage industry, financier Carl C. Icahn has launched a discount origination Web site that he says will offer the lowest costs in the business.
The company, which can be accessed at www.Lowestloan.com, said it is licensed in 13 states and will be lending in 15 more within six months.
Weve created a unique business model, run by experienced mortgage professionals, that allows Lowestloan to offer mortgages at the lowest cost in the market, Mr. Icahn said in a press statement. He said that his experience with Lowestfare.com, an online discount travel site he owns, will help on the mortgage site.
Lowestloan said its loan officers will not receive commissions based on what borrowers pay. Our mission is to save the borrower money and provide honest, reliable service, said Daniel J. Harris, its president and chief executive officer.