Real estate information and services company RealEstate.com signed a two-year
agreement to become the sole provider of mortgage information and services on
Excite@Home’s broadband @Home service.
Excite@Home will build a new “Mortgage Wizard” on its high-speed @Home
service in which subscribers can participate in RealEstate.com’s Mortgage
Auction, a real-time, competitive online auction for home loans. Financial
arrangements were not disclosed.
RealEstate.com also will have an advertising presence — rich in video,
product information and high-resolution photography — throughout the @Home
service.
“Broadband content allows us to actively engage consumers in the online loan
experience,” said Alan F. Daniels, chairman and CEO of RealEstate.com.
“Through this strategic alliance we hope to build relationships with a highly
desirable segment of homebuyers.”
RealEstate.com’s Mortgage Auction connects consumers with more than 200
lenders offering their lowest rate — at no cost and no obligation to the
consumer. Consumers fill out a secure, online auction form and their
anonymous profiles are posted to the daily auction. In as little as 24
hours, the loan is awarded to the lender with the lowest overall package, the
company said.