Shopping.com offers mortgage comparison shopping

May 4, 2005

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Shopping.com announces the beta release of its mortgage comparison shopping service.

Shopping.com Mortgages (http://www.shopping.com/xCH-mortgage_services) allows consumers to shop for mortgages with the same detailed level of associated attributes; customized search; and structured, intuitive presentation previously available only in consumer products and unprecedented in financial services.

At the beta launch, consumers have access to, and can compare rates from, multiple credible lenders with representation in all 50 states. Attributes by which consumers can customize the search and presentation of offers include, among others, loan type, points, loan amount, lender's regional profile, monthly payments, closing costs, and down payment requirements.

"Consumers increasingly seek a more comprehensive, structured shopping experience that ensures informed purchase decisions. That information and structure turns browsers into buyers and creates a more compelling channel for merchants," said Dan Ciporin, chairman and CEO of Shopping.com.

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"The transformative impact this type of comparison shopping has had in consumer product goods only scratches the surface of what's possible in a complex marketplace like mortgages."

Through Shopping.com, potential home-buyers are given the power to review complete mortgage offerings and then contact the lenders they want to work with, rather than being called and emailed by lenders that other mortgage sites have, until now, chosen for them.

Soon, detailed lender reviews written by other consumers will be provided as well, so consumers will have an even clearer sense of which lender may be right for their needs.

The launch into the mortgage market comes at a time when Shopping.com is moving fast to expand its position as a leader in the online shopping space.

This initiative follows Shopping.com's recent launch of the first true cross-border comparison shopping site in France, at http://fr.shopping.com, and a partnership with AOL(R) in which Shopping.com powers the AOL France shopping channel.

Source: Shopping.com

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