New service linking brokers to borrowers

Real Estate Weekly, August 19, 1998

Mortgageexpo.com works on the principal of linking prospective borrowers to mortgage brokers in their local area. Borrowers can access a local broker's web site, loan products and procedural information - as well as Mortgageexpo.com's mortgage calculators and other Internet-based features. Mortgage brokers receive exclusive zip code-based listings at a cost of $900 per year.

Real Estate/Insurance Sites

Cybermedia also launched real estate and insurance sites on August 1st, each linked to Mortgageexpo.com and expected to deliver similar value to the consumer and results for brokers in their industries.

"For many brokers in consumer-service industries, our platform makes the most sense - many of our mortgage brokers have their exclusive web presence on our site," said Jordan Drew, web-master of Cybermedia. "They call us asking if they can put our Web address on their business cards, It quickly becomes a community of like interested people, and our support people and Computer Associates are at its hub. That is a powerful and compelling proposition to both the consumer and the broker, and we are very excited that it is coming together so well."

Among the many valuable services on the site is a brief questionnaire that matches borrowers not only to a broker, but to the appropriate type of loan for them, given market conditions and their specific circumstances.

Create a National Presence

Another benefit for mortgage brokers is that they can create a virtual national organization if they are licensed or able to practice in more than one state. This allows brokers in remote locations to compete with national organizations or to bring similar mortgage brokers to demographically similar areas.

"If a mortgage broker feels that inner-cities are a strong point, we can create a business on the Web that specializes in those areas," explained Drew. "This is one of the characteristics of our site that makes Computer Associates such an eager partner of ours. Mortgageexpo.com uses the Internet intelligently by delivering its inherent strengths to users. Of the many Web sites used to promote business, very few actually effectively do business. Mortgageexpo.com is a service, not an advertisement, and Computer Associates has helped us run it as a business, not an experiment."

For more information on Cybermedia, visit Mortgageexpo.com or call toll-free (877)-684-3976.