Homestore.com, Inc. and Dorado.com Establish
Multi-Million Dollar Technology, Joint Marketing and
Advertising Strategic Alliance
Homestore.com, Inc. to Integrate MortgageTone(TM) Technology Into Its Industry-leading
i-LEND(TM) Program
Dorado.com to Provide Nation's Leading Mortgage Company Clients Direct Access to #1 Home
and Real Estate Network's 3.7 Million Monthly Unique Users
THOUSAND OAKS, Calif., May 31 /PRNewswire/ -- Homestore.com, Inc. (Nasdaq: HOMS - news), the Internet's largest
home and real estate network, and Dorado.com, an e-Finance software company, have formed a two-year, multi-million dollar
technology and joint marketing alliance, offering enhanced capabilities to Homestore.com's mortgage lender customers and
advertising on Homestore.com(TM) for Dorado.com's customers -- some of the nation's top mortgage companies.
Under the terms of the agreement, Dorado.com will pay Homestore.com to market and advertise its clients' services on the
Homestore.com network, which attracts a monthly audience of over 3.7 million unique users. In addition, Homestore.com will
acquire equity in Dorado.com and integrate Dorado.com's MortgageTone(TM) technology -- Web based software and
professional tools for lenders -- into its showcase i-LEND(TM) product. Since its launch last year, nearly 400 mortgage lenders
and brokers have signed on to i-LEND. The initiative has proven to be an effective and efficient suite of marketing tools and Web
sites for professionals and a popular time-and cost-saving vehicle for consumers who use Homestore.com's ``Find a Lender'' to
identify and contact lenders in their local communities.
Today's announcement comes on the heels of a May 19th announcement by Homestore.com, Inc. and the National Association of
Realtors© to launch the Realtors© Electronic Transaction Platform, a progressive online system expected to help automate the
steps involved in completing the purchase or sale of a home. The new Homestore.com-Dorado.com alliance will allow lenders
using i-LEND with Dorado.com's technology to be able to seamlessly and securely receive information from their Realtor©
partners to further streamline the mortgage financing process. Homestore.com's new strategic relationship with Dorado.com can
thus enhance the technology and distribution of both companies, help lenders reach Internet customers more efficiently, maintain
better customer relationships and build more efficient links with Realtors© and other industry business partners. Similarly,
consumers on Homestore.com's network will be able to access lenders' sites, powered by Homestore.com's and Dorado.com's
technology and services, to receive convenient, personalized and secure financial services online.
``We are committed to bringing all our customers the most innovative Internet-based solutions available today,'' said Stuart Wolff,
chairman and chief executive officer, Homestore.com, Inc. ``Through Dorado.com's suite of products, we are offering mortgage
lenders, real estate companies and their affiliated lending partners, powerful, fully integrated financial services tools to help grow
their businesses online.''
``Dorado.com's leadership in e-commerce technology for financial services, coupled with Homestore.com's premier position on the
Internet as the number one provider of home and real estate information, should enable financial institutions to offer better
convenience, service, and value to online consumers,'' added Dain Ehring, founder and chairman of Dorado.com.
About Homestore.com(TM)
Homestore.com, Inc. (Nasdaq: HOMS - news) is the leading network of sites on the Internet for home and real estate-related
information, products and services. Homestore.com, Inc.'s family of web sites includes Homestore.com(TM), Realtor.com©,
HomeBuilder.com(TM), SpringStreet.com(TM), Remodel.com(TM) and HomeFair.com(TM) web sites. Consumers can view
over 1.3 million new and existing homes for sale and find broker and agent services on Realtor.com©, the official Internet site of
the National Association of Realtors©. Consumers searching for new homes can find more than 130,000 models, new homes and
built-to-suit plans on HomeBuilder.com(TM), the official new homes site of the National Association of Home Builders.
Consumers interested in renting an apartment will find listing information from more than 45,000 properties in more than 6,000
cities on SpringStreet.com(TM). Homestore.com's(TM) remodeling area covers home improvement needs for both consumers
and remodeling professionals. Comprehensive moving and relocation information on the Internet is available from
HomeFair.com(TM). Homestore.com(TM) also has content distribution relationships with America Online; Excite @Home and
Go Network/Infoseek.Dorado.com has strong partnerships with major industry
players such as Fannie Mae, CyberSource, Credco, Sun
Microsystems, Exodus Communications, and BEA
WebLogic. These partners help us deliver best-of-breed
solutions to financial services institutions. With the backing
of our partners, we provide our clients with many options to
add integrated services such as credit, title, appraisal,
insurance, and closing. Financial institutions can thus offer
end-to-end e-Finance services, making it easier for Internet
consumers to conduct safe, secure, home-centered financial
transactions. |
