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BridgeSpan, Real Estate and Mortgage Industries' Only Complete Online Closing Service, Reaches $3 Billion in Volume

Accomplishment Comes Just Two Months After $2 Billion Milestone and in Midst of Company's Ongoing Expansion

MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--May 30, 2001-- Fueled by an overwhelming response to its unique business model, a new office opening and expansion into the commercial real estate arena, BridgeSpan Title Co., the nation's first and only complete online title and closing solution for the real estate and mortgage industries, announced today it has surpassed $3 billion in transactional volume.

The announcement comes just two months after BridgeSpan completed $2 billion in transactional volume, and as the 1 1/2 year-old company continues its aggressive expansion. Within the past several weeks, BridgeSpan opened a new office in Saratoga, Calif., to meet the growing demand for its services and in the coming days will announce yet another San Francisco Bay Area office opening. Meanwhile, the company's Menlo Park/Woodside office has claimed the No. 1 spot in market share for the past nine months.

"Our commitment to providing superior customer service has enabled us to attract real estate and mortgage professionals who recognize the value of using the Internet, BridgeSpan's closing platform and the company's own in-market closing professionals, to handle their transactions,'' said BridgeSpan Inc. CEO Mark Evans.

BridgeSpan's business model continues to set the company apart from the competition by not charging lenders, real estate professionals or other service providers a fee for using its closing services. BridgeSpan controls all aspects of the closing process by delivering high-quality title and closing services using its Web-based technology, central processing, and its own team of closing specialists. For their part, consumers pay only customary closing costs while benefiting from being able to view documents anytime and from anywhere, and working with their lender or real estate professional online or off, to better manage the transaction.

BridgeSpan's growing list of accomplishments have been propelled by its business relationships with leading lenders across the United States, combined with an ever-growing number of real estate professionals who are using the company's services to close thousands of real estate transactions each month. The company is licensed to provide title and closing services in 33 states.

The company now has six offices staffed by some of Northern California's most experienced and respected industry professionals. In addition to its new office in Saratoga, BridgeSpan has offices in Menlo Park/Woodside, Sacramento, San Jose, Mountain View and Orange County, Calif. The company's central processing center is located in Frisco, Texas.

About BridgeSpan

BridgeSpan Inc. is reinventing the residential closing experience by providing Web-based technology solutions to the real estate and mortgage industries. Its subsidiary, BridgeSpan Title Co., is dramatically improving the way real estate transactions are closed, by combining technology, central processing and its own team of specialists to close transactions in 33 states.

For additional information, contact:
Hugh Siler
Siler & Company PR
[email protected]

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