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.