Thursday, April 3, 2008

Zillow Launches Mortgage Marketplace

Seattle-based real estate Web site Zillow.com unveiled a free online service Thursday that will allow borrowers to anonymously request custom loan quotes from registered lenders. Called Zillow Mortgage Marketplace, the service includes a public feedback system for borrowers wishing to rate the vendors they contact. Though the service is provided free to both parties, Zillow said lenders must pay a one-time registration fee of $25 each. Launched some two years ago, Zillow.com provides online real estate listings and tools. To date, the privately owned company has raised $87 million in venture financing.