MortgageIT.com and Corcoran Group create on-line mortgage resource

Real Estate Weekly, Feb 9, 2000

MortgageIT.com, the online mortgage company with an extensive lender network, and corcoran.com global real estate, have announced that MortgageIT.com will be the exclusive provider of mortgage financing and home loan information on the corcoran.com web site, which provides extensive offerings of luxury properties around the globe.

Under the terms of this three-year agreement, corcoran.com's customers will have instant and easy access to information on mortgages; low loan rates; and the high-quality customer service that have made MortgageIt one of the top on-line lenders in the industry.

"Our management has more than a decade of experience in providing mortgages and a tradition of serving the needs of high-net-worth borrowers, a market that requires specialized knowledge about products such as jumbo loans and issues like condominium and co-op apartments and international real estate investments," said Doug Naidus, CEO of MortgageIT. "We are uniquely qualified to provide Corcoran's customers with the information they need, the level of service they demand, and the low rate loans they deserve."

James Kim, CEO of corcoran.com., said "We selected MortgageIT because no other on-line mortgage company can meet the needs of our clientele as well as they can. MortgageIT always goes the extra mile to find the best loan programs and rates for each customer, and our customers are entitled to that kind of service. We have been doing business with IPI Skyscraper, MortgageIT's sister company, for almost 15 years now. This is a natural extension of a positive relationship."

In addition to offering loans from more than 120 reputable lenders, MortgageIT supplies a full range of information, such as mortgage calculators, to help homebuyers determine how much they can borrow, and tools to compare different loan products. MortgagelT also provides free pre-commitment letters that help make buyers more attractive to sellers.

"Corcoran.com's mission is to be the premier provider of web-based solutions for global real estate," said Barbara Corcoran, chairman and founder of The Corcoran Group. "Aligning with MortgageIT's bestof-breed products and services is an important step toward attaining that goal."