RealTime IT News

Priceline Mortgage Licensee Gets a Boost

The name-your-own price mortgage licensee of Priceline.com got a boost today when HomeSeekers.com signed a deal making it the preferred online mortgage provider for HomeSeekers.com and about 30,000 local Realtor sites that it serves around the United States.

Jacksonville, Fla.-based Pricelinemortgage is a subsidiary of First Alliance Bank and is a royalty-based licensee of priceline.com.

Visitors to the site can get mortgage pre-approvals, choose their own mortgage terms, get guaranteed closing costs and lock in a rate with pricelinemortgage's float-down rate protection feature, so that if rates decrease between the time the rate is locked and the time they close, borrowers get the lower rate.

Financial arrangements between the companies were not disclosed.

Reno, Nev.-based HomeSeekers.com provides Internet-based technology solutions to the North American and international real estate markets and hosts its own listing service. The company develops and maintains intranets for MLS and local Realtor sales forces. In total, HomeSeekers.com has developed approximately 30,000 real estate Web sites.

"Pricelinemortgage's services will make local Realtors' Web sites more attractive and `stickier' by offering a one-stop solution to consumers' house-hunting and mortgage needs," said Pat McEnerney, president of pricelinemortgage.