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SAN FRANCISCO, Oct. 30, 2000 — HomeAdvisor Technologies Inc., a leading provider of Internet technology solutions for the real estate and lending industries, has reached agreements with several of the nation’s largest mortgage companies to offer its LockPoint Xtra electronic loan pricing and registration service. The Web-based LockPoint Xtra is designed to simplify mortgage transactions and give mortgage companies greater control over their business through the power and convenience of Internet-enabled tools. The announcement was made today at the Mortgage Bankers Association annual convention.
By connecting to an integrated database and software system, LockPoint Xtra automates and standardizes the real-time distribution of loan programs, mortgage rates and loan locking. Old Kent Mortgage Co. and GreenPoint Mortgage Funding Inc. are among the latest industry leaders to implement LockPoint Xtra. Each month, LockPoint Xtra helps 2,000 lenders lock in more than $2 billion worth of loans.
“LockPoint Xtra represents a pricing, locking and validation engine that is unmatched in the industry,”
said Tim Newberry, vice president of HomeAdvisor Technologies.
“Our customers view the ability to integrate LockPoint Xtra across their organization as a strategic competitive advantage. The Web-based version is the latest step in our continued effort to connect the capital markets with the point of sale.”
“LockPoint Xtra has given us real-time, risk-based pricing information and loan-locking tools over the Internet,”
said Denise Elwell, senior vice president of Old Kent Mortgage.
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Private-label application of the technology allows us to provide our customers with an
e-commerce service without having to invest costly development time and dollars to provide this functionality.”
About HomeAdvisor Technologies
HomeAdvisor Technologies Inc. is focused on providing an open and scalable platform that empowers customers to complete real estate and loan transactions with superior service to all parties involved. Backed by Microsoft Corp. and leading mortgage industry companies, HomeAdvisor Technologies is dedicated to delivering cost-effective software tools and services.
About Microsoft
Founded in 1975, Microsoft (Nasdaq
“MSFT”
) is the worldwide leader in software, services and Internet technologies for personal and business computing. The company offers a wide range of products and services designed to empower people through great software – any time, any place and on any device.
Microsoft and HomeAdvisor are either registered trademarks or trademarks of Microsoft Corp. in the United States and/or other countries.
The names of actual companies and products mentioned herein may be the trademarks of their respective owners.
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