August 30, 1999
Miami's AIBC International Mortgage and Lehman Brothers on Monday launched iemortgage.com, which they said is the first online mortgage lending service dedicated to foreign nationals buying or refinancing properties in the United States. iemortgage.com plans to securitize the mortgages and place them in the capital markets, allowing foreign clients to obtain rates and financing programs that were previously difficult to access. iemortgage.com will provide online services directly to clients, or through a network of financial institutions, including First Union Mortgage, Terrabank, AmTrade International Bank and Hemisphere National Bank. The company said it expects its largest client base to come from Canada, Latin America, the United Kingdom and Japan.