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Googles starts mortgage compare utility 2005-11-23
Googles (GOOG) has come to the mortgage. Google is starting its own mortgage comparator via its comparator services after being already informed at the beginning of the year. Compare Google is no stranger mortgaged for, just not in this state. So far Google Compare in Great Britain provided auto insurances, holiday insurances, credits card and mortgage.
In February, Google began to lay the foundation stone when it brought its own integrated mortgage computer to market. From very soon, all over the nation will be able to buy a mortgage from Google. Just think of a user looking for a "mortgage" on Google and being asked to check a listing of Google-approved creditors and their interest rate.
Google has announced that the mortgage comparator is currently available in California, with more states to come. "Googles Compare formortgages offers a smooth, instinctive learning curve that links creditors with borrower online," Google published on its website Monday. "No matter whether you're a domestic borrower or a native of California, you can now find mortgage seekers on your smart phone or your computer screen, along with a real-time cross-check of interest rates quoted by other mortgage providers - all in a minute," Google went on.
Google Compare for mortgage lending will be Zillow Group (Z) and LendingTree (TREE), both of which on Monday reported that they will work with Google to deliver mortgage information to the monolithic SEO. Zillow's statement further states that Google has worked with a number of vendors to offer a variety of results and purchase opportunities to people.
The LendingTree provided extra detail on how Google Comparison will work for mortgage loans. "LendingTree and its lender ecosystem, as well as other credit partner providers, are creating tailor-made offers on the basis of the information provided," LendingTree said in a press statement.
"LendingTree continues, "When Google searches for a mortgage-related word, Google invites the consumer to the Google Compare Mortgages page within the results. LendingTree says Google will show mortgage interest from LendingTree and other creditors after entering some extra information such as credit amount and house value.
"And, similar to LendingTree, the expertise enables a large number of mortgage lenders to compare interest rates with LendingTree customer credit scores and ratings," LendingTree said. Google sees the mortgage comparator as a way to raise extra publicity costs, according to a previous Gigaom review.
At its heart, Compare is an advertising tool, which means that Google makes cash every times a user makes a move on the basis of its recommendation. And the more cash at risk, the higher Google's chances of making a break, which is why mortgage loans are particularly interesting. Zillow's statement states that the conditions of the agreement have not been made known.
Zillow and LendingTree both said they were enthusiastic about being part of Google Compare for mortgages. LendingTree founders and chief executive officer Doug Lebda agreed with Lantz. "We' re delighted to be part of Google Compare and continue to help link potential borrower with skilled mortgage lenders as the move to on-line credit accelerates," Lebda said.
"Selection and consumer comfort are essential when buying credit on-line, and Google Compare makes the whole thing even easier," Lebda added. "LendingTree's combination of our proven track record in the provision of an on-line interest chart and our powerful creditor ecosystem gives it a clear edge in approaching prospective debtors via the on-line market.
Congratulations to Google on its start and we look forward to working with Google early on."