Intuit
mortgage.quicken.com

Intuit’s latest financial services emporium features mortgages from six major originators.

Intuit’s new mortgage site, QuickenMortgage, which officially opens Nov. 4, creates a new standard for cyberspace mortgage brokers. It’s also a who’s who of non-bank competitors, from the American Express banner on the top of the page (see below), to six of the country’s 22 largest mortgage lenders offering loans through the site (see table below).

American Express banner ads on QuickenMortgage.

The mortgage emporium is a logical move for Intuit, and a good opportunity for the lenders to ride the coattails of Intuit’s superb brand name. We think it will be successful for Intuit, though competition from other Web-based providers will be fierce.

Initially, the site will focus on providing users with a quick snapshot of mortgage rates as well as mortgage resources both on the Quicken site and around the Web. Serious mortgage shoppers can take a 15-minute online interview which results in a list of recommended mortgages from the six participating lenders, and a mortgage prequalification letter for use in home purchase negotiations. The latter has great appeal for the harried homebuyer who wants to act quickly on a home for sale, but hasn’t been in touch with a lender yet. Expect to see cybersavvy Realtors bookmarking this site for their clients.

Contact: Bill Harris is EVP at Intuit, 415.944.6000.

Personalized loan option summary.