{"id":2884,"date":"2008-04-02T21:00:00","date_gmt":"2008-04-03T04:00:00","guid":{"rendered":"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/?p=2884"},"modified":"2008-04-03T00:07:45","modified_gmt":"2008-04-03T07:07:45","slug":"zillowcoms-long-awaited-mortgage-lending-service-to-offer-anonymous-customized-loan-quotes-to-consumers-affording-loan-originators-the-opportunity-to-compete-transparently-for-free-mortgage-leads","status":"publish","type":"post","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/2884\/zillowcoms-long-awaited-mortgage-lending-service-to-offer-anonymous-customized-loan-quotes-to-consumers-affording-loan-originators-the-opportunity-to-compete-transparently-for-free-mortgage-leads\/","title":{"rendered":"Zillow.com’s long-awaited mortgage lending service offers anonymous customized loan quotes to consumers, affording loan originators the opportunity to compete transparently for free mortgage leads"},"content":{"rendered":"

Seattle-based real estate start-up Zillow.com tonight releases its long-anticipated mortgage lending product. We’ve known for nearly a month that Zillow’s offering would include working loan originators in some fashion<\/a>. What becomes clear tonight is that Zillow will basically be acting as a hands-off intermediary between mortgage-seeking clients and loan originators.<\/p>\n

Consumers using Zillow’s new Mortgage Marketplace will be able to anonymously solicit bids for loans from participating lenders. The consumer will fill out a detailed form disclosing all pertinent financial details.<\/p>\n

The form will be submitted anonymously to participating lenders, who will, in their turn, produce quasi-pro-forma loan quotes, submitting them, through Zillow, to the consumer. The consumer will then have the choice to make direct contact with particular lenders to decide whom to do business with.<\/p>\n

To a very large degree, the information asymmetry between lender and borrower is done away with, since the loan quote will detail every fee associated with the loan. Moreover, Zillow will be implementing a reputation-management system whereby borrowers will be able to rate their lenders on their performance.<\/p>\n

In return, the lenders will receive Zillow’s mortgage leads at no cost.<\/p>\n

The new service is expected to come on-line at 9 pm PST tonight. I made screenshots in the product demo teleconference I attended today<\/a>, but my expectation is that these will be obviated very shortly.<\/p>\n

 
Elsewhere:<\/i><\/b> Todd Carpenter<\/a>, Rich Barton<\/a>, John Cook<\/a>, Drew Meyers<\/a>, TechCrunch<\/a>, Rhonda Porter<\/a>, Spencer Rascoff<\/a>, Joel Burslem<\/a>, Kevin Boer<\/a>, Jay Thompson<\/a>, Rhonda Porter (again)<\/a>, Pat Kitano<\/a>, Morgan Brown<\/a>, Trace Richardson<\/a>.
\n<\/p>\n

Technorati Tags: disintermediation<\/a>, real estate<\/a>, real estate marketing<\/a>, technology<\/a>, Zillow.com<\/a><\/p>\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Seattle-based real estate start-up Zillow.com tonight releases its long-anticipated mortgage lending product. We’ve known for nearly a month that Zillow’s offering would include working loan originators in some fashion. What becomes clear tonight is that Zillow will basically be acting as a hands-off intermediary between mortgage-seeking clients and loan originators. Consumers using Zillow’s new Mortgage […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4,26,6,5,25],"tags":[],"class_list":{"0":"post-2884","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"hentry","6":"category-disintermediation","7":"category-lending","8":"category-marketing","9":"category-real-estate","10":"category-zillowcom","12":"no-featured-image"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":2958,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/2958\/zillowcoms-mortgage-marketplace-brings-anonymous-apples-to-apples-mortgage-rate-quotes-to-consumers-free-consumer-leads-to-lenders\/","url_meta":{"origin":2884,"position":0},"title":"Zillow.com’s Mortgage Marketplace brings anonymous apples-to-apples mortgage rate quotes to consumers, free consumer leads to lenders","author":"Greg Swann","date":"April 13, 2008","format":false,"excerpt":"This is my column for this week from the Arizona Republic (permanent link): \u00a0Zillow.com's Mortgage Marketplace brings anonymous apples-to-apples mortgage rate quotes to consumers, free consumer leads to lenders Wouldn't it be great if you could get a broad array of mortgage quotes without having to make dozens of phone\u2026","rel":"","context":"In "Disintermediation"","block_context":{"text":"Disintermediation","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/disintermediation\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2737,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/2737\/the-odysseus-medal-competition-voting-for-the-peoples-choice-award-is-open-23\/","url_meta":{"origin":2884,"position":1},"title":"The Odysseus Medal competition — Voting for the People’s Choice Award is open","author":"Greg Swann","date":"March 9, 2008","format":false,"excerpt":"My take is that the most important news this week was Zillow.com's announcement that it will be doing background checks on the loan originators it will be referring to consumers as a part of its forthcoming mortgage product. In consequence, this week's short list is all about Zillow's announcement and\u2026","rel":"","context":"In "Blog Carnivals"","block_context":{"text":"Blog Carnivals","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/blog-carnivals\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2710,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/2710\/do-you-want-some-earth-shaking-news-in-showing-us-a-first-tentative-glimpse-of-its-new-mortgage-lending-product-zillowcom-may-in-fact-be-reinventing-and-perfecting-capitalism\/","url_meta":{"origin":2884,"position":2},"title":"Do you want some earth-shaking news? In showing us a first tentative glimpse of its new mortgage lending product, Zillow.com may in fact be reinventing — and perfecting — Capitalism","author":"Greg Swann","date":"March 6, 2008","format":false,"excerpt":"I'm going to get the newspaper news out of the way first: Starting now, if you are a loan originator, you can register with Zillow.com to receive mortgage and refinancing referrals from that Seattle-based internet start-up, once it ramps up its full -- but still Top Secret -- mortgage lending\u2026","rel":"","context":"In "Egoism in Action"","block_context":{"text":"Egoism in Action","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/egoism-in-action\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2910,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/2910\/the-odysseus-medal-competition-voting-for-the-peoples-choice-award-is-open-25\/","url_meta":{"origin":2884,"position":3},"title":"The Odysseus Medal competition — Voting for the People’s Choice Award is open","author":"Greg Swann","date":"April 6, 2008","format":false,"excerpt":"We have 14 entries on the short list this week, out of a long long list of 96 posts. I've already decided on the winner of the Odysseus Medal, so I'm not linking that way. This week's Short List is all Zillow Mortgage Marketplace posts, all of them written by\u2026","rel":"","context":"In "Blog Carnivals"","block_context":{"text":"Blog Carnivals","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/blog-carnivals\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":3164,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/3164\/the-unchained-originator-ken-stampe\/","url_meta":{"origin":2884,"position":4},"title":"The Unchained Originator: Ken Stampe","author":"Brian Brady","date":"May 26, 2008","format":false,"excerpt":"I was disappointed with the low turnout of loan originators at UNCHAINED. There were two local originators, who attended our Mesquite library performance, and my buddy Ken Stampe. Ken and I met in 2006, on Active Rain. He was one of the first to sign up for Unchained. His only\u2026","rel":"","context":"In "Lending"","block_context":{"text":"Lending","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/lending\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1964,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1964\/can-the-nar-improve-a-buyers-financing-experience\/","url_meta":{"origin":2884,"position":5},"title":"Can the NAR Improve a Buyer’s Financing Experience?","author":"Brian Brady","date":"September 23, 2007","format":false,"excerpt":"Realtors have to stop complaining about the sorry status of the lending industry. Why? They have the power to make a difference but refuse to take action. I have often heard the Realtors' cry for licensing of loan originators and a plea for lending advisers to adopt a fiduciary capacity\u2026","rel":"","context":"In "Lending"","block_context":{"text":"Lending","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/lending\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/2884","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/comments?post=2884"}],"version-history":[{"count":0,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/2884\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/media?parent=2884"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/categories?post=2884"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/tags?post=2884"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}