Excite and Intuit Web Sites Launch Timely Refinance Center In Response To Big Drop In Mortgage Rates
MOUNTAIN VIEW and REDWOOD, Calif., Jan. 20 -- Intuit, Inc. (Nasdaq: INTU) and Excite, Inc. (Nasdaq: XCIT) announced today that they will launch a Refinance Center on January 22. Created as a direct response to the current interest rate environment, the Refinance Center will be dedicated to consumers seeking to refinance their home loans through interactive tools and expert advice. The Refinance Center will
launch on Intuit's Home and Mortgage department on Quicken.com ( www.quicken.com/mortgage ) and Excite's Business and Investing Channel by Quicken.com ( quicken.excite.com ).
"Gradually we noticed a growing interest in refinancing by our QuickenMortgage customers," stated Alison Berkley, senior product manager, Intuit, "and with the recent move to even lower mortgage rates, we seized the opportunity to create an innovative center that responds to our customers desires."
QuickenMortgage.com, which launched November 4, 1997, allows potential home buyers and customers seeking to refinance, to pre-qualify in minutes with one of the six charter lenders. An interview process helps consumers make apples-to-apples comparisons of different mortgage loan products, customized to their particular property and financial situation. After a lender is chosen, the consumer is able to start the mortgage application process online.
"QuickenMortgage is the optimal way to refinance via the Internet," said Joe Kraus, senior vice president and co-founder of Excite, Inc. "Excite's Business and Investing Channel by Quicken.com provides the easiest, most complete venue for consumers looking for everything from personal finance information and advice to actually comparing existing mortgage programs and refinancing their homes."
QuickenMortgage Refinance Center
Starting on January 22, 1998, Internet users will be able to go to a single area to find all the necessary tools to help them determine if they should refinance their mortgage and which loan is best for them. Key features of the QuickenMortgage Refinance Center include:
* Should You Refinance Now? Interactive Tool: -- A questionnaire which
assesses a homeowner's current mortgage and suggests whether refinancing
makes sense, based on current lending rates. Consumers can see how much
they can save each month and how much they can save over the time the plan
to live in the house.
* Refinance Interview -- A customized apples-to-apples comparison of
mortgage loans available to consumers from the nation's leading lenders.
In minutes, consumers can prequalify for a specific loan and start their
application online.
* Expert Advice -- Guidance about the best time to refinance and how to
find a good loan.
* Q & A -- A detailed look at consumer's commonly asked refinancing
questions.
* Directory -- A listing of refinancing resources available throughout
the web. Chats & Bulletin Boards -Community areas for consumers to
interact and discuss refinancing issues.
Supporting the Refinancing Trend
"The current economic environment has been terrific for homebuyers and homeowners alike," stated Jim DeBoth, president of Mortgage Market Information Services. "Mortgage rates have dropped to their lowest level in years, encouraging home buying and giving home owners a great opportunity to refinance. Fixed mortgage rates have broken the 7% barrier, creating a boom in the refinancing business. The mortgage rate environment is expected to get even better for consumers over the coming weeks."
Supporting this recent trend, QuickenMortgage has seen its traffic triple during the previous two weeks, hosting over 25,000 consumers each day. Additionally, close to 65% of these QuickenMortgage consumers are interested in refinancings.
Gail Plank, a Massachusetts-based consumer who refinanced through QuickenMortgage expressed, "Instead of waiting online to get application packages from multiple lenders in my area, I used QuickenMortgage and shopped six lenders in under 15 minutes. I must have saved 4 - 8 hours of time. I am also saving a couple of hundred dollars per month through the refinancing. I'm very pleased!"
About Excite, Inc.
Founded in 1994, Excite, Inc. is an Internet media company which offers the Web's first free online service. The Excite Network consists of Excite's two flagship brands, Excite ( www.excite.com ) and WebCrawler ( www.webcrawler.com ), and its independent subsidiary, MatchLogic, Inc. Localized versions of Excite are available in the United Kingdom, Germany, France, Sweden, The Netherlands, Australia and Japan. Based in Redwood City, Calif., Excite, Inc. (Nasdaq: XCIT) has strategic relationships with America Online, Inc., Intuit Inc., Tribune Company, CUC Investments Inc., Apple Computer, Inc. and Netscape Communications Corp.
About Intuit
Intuit Inc., a financial software and Web-based services company develops and markets Quicken, the leading personal finance software; Turbo Tax, the best-selling tax preparation software; and QuickBooks, the most popular small business accounting software. Intuit's Quicken.com Web site offers a complete set of personal finance news, information, and tools, including the leading mutual fund and insurance sites. Intuit's products and services enable individuals, small businesses, and financial professionals to better manage their financial lives and businesses.
Intuit, the Intuit logo, Quicken, QuickBooks and TurboTax, among others, are registered trademarks of Intuit, Inc. in the United States and other countries. Quicken.com, among others is a trademark of Intuit, Inc. in the United States and other countries.
/CONTACT: Karen Cleeve of Intuit, Inc., 650-944-3084,
karen_cleeve@intuit.com; or Heather Gore of Excite, Inc., 650-569-2048,
hgore@excite.com/
"Copyright(c) 1998, PR Newswire"
"Provided by Dow Jones & Company, Inc." |
