Business Notes MORTGAGES

When house hunters encounter the perfect palace, they typically must dash to the bank to arrange for financing before someone else snaps up their dream. Now comes perhaps the ultimate convenience for the charge-it generation: a silver-embossed piece of plastic signifying that the bearer has arranged a line of mortgage credit, which can be for as much as $500,000.

The HomeBuyer Express Card is being offered by CompuFund National Mortgage Network in California, Texas and Washington. After customers pass a mortgage- approval process, perhaps in as little as 24 hours, the cards are sent to them by overnight mail.