REDMOND, Wash., Oct. 5, 1999 — Microsoft Corp. and Chase Manhattan Mortgage Corp. today announced that Chase Manhattan Mortgage has licensed Microsoft® Real Estate Technologies, further signifying the importance of the Internet as a vital distribution channel for real estate and mortgage companies to capture new customers. Chase Manhattan Mortgage, the largest residential mortgage lender in the United States, now features on its Web site a customized version of the MSN.com TM HomeAdvisor TM Loan Finder and Financing Tools. Chase Manhattan Mortgage’s licensing of the Microsoft mortgage transaction platform and decision support tools serves as the backbone of the Mortgages and Home Equity area of the Chase Web site located at http://www.chase.com/homefinance/ .
“This technology from Microsoft enables us to provide our customers with the very best Web experience available,”
said Dori Shimoda, senior vice president of e-commerce at Chase Manhattan Mortgage.
“People are often intimidated by the complexities of the mortgage process. We are continually enhancing our Internet presence to simplify and enrich the customer experience through valuable content, essential tools, personal attention and excellent service. We’re very excited to use this technology to expand our business and drive transaction volume on the Internet.”
With this announcement, Chase Manhattan Mortgage becomes the first mortgage provider to use the mortgage platform from HomeAdvisor. The agreement is another example of Chase Manhattan Mortgage’s commitment to building its online presence. Earlier this year, the company began offering mortgages on the HomeAdvisor online real estate service. By licensing Microsoft Real Estate Technologies, Chase Manhattan Mortgage is able to customize one of the best mortgage transaction platforms available to create a uniquely Chase-branded Web presence while greatly reducing development costs and time-to-market.
“This is yet another tremendous endorsement of the HomeAdvisor technology platform and its value to the real estate and mortgage industries,”
said Bryan Mistele, product unit manager for HomeAdvisor.
“As the nation’s premier mortgage originator, Chase Manhattan Mortgage is a recognized leader in developing mortgage products, and we are glad it has chosen our software as the foundation for its online presence.”
Microsoft is committed to building industry relationships to help deliver its vision of the Everyday Web to consumers and businesses. Microsoft will continue to team with a variety of leaders in specific industries to help provide best-of-breed content and services for customers.
About Chase Manhattan Mortgage
Chase Manhattan Mortgage, a subsidiary of The Chase Manhattan Corporation (NYSE: CMB), is headquartered in Edison, New Jersey. The company is the country’s largest residential mortgage lender and the largest mortgage loan servicer, with a portfolio of approximately $230 billion. The Chase Manhattan Corporation, with more than $357 billion in assets, is one of the world’s premier financial services institutions, with operations in 48 countries around the globe. Chase can be reached on the Web at www.chase.com.
About Microsoft Real Estate Technologies
Microsoft Real Estate Technologies provides dynamic Internet solutions for real estate and mortgage businesses nationwide. The platform allows companies in related fields to take advantage of the award-winning technology behind the HomeAdvisor online real estate service to serve their own customers on the Web. Designed to foster the best consumer home-buying and financing experience online, Microsoft Real Estate Technologies is created with the Microsoft BackOffice® family of products, which includes the Windows® 2000 Server operating system, Internet Information Services and Microsoft SQL Server TM .
Founded in 1975, Microsoft (Nasdaq
) is the worldwide leader in software for personal computers. The company offers a wide range of products and services for business and personal use, each designed with the mission of making it easier and more enjoyable for people to take advantage of the full power of personal computing every day.
Microsoft, MSN.com, HomeAdvisor, BackOffice and Windows are either registered trademarks or trademarks of Microsoft Corp. in the United States and/or other countries.
Other product and company names herein may be trademarks of their respective owners.
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