Recent Blog Posts
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Mapping Company Raises Millions
Nov 20 20094:09 pm EDT -
Facebook Valuations Are All Over the Map
Nov 20 200911:30 am EDT -
The Future of Tech, 2010 Edition
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Automatic Pancake-Making Machine Attracts $2 Million in Capital
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Apple Talk of Microsoft's Annual Meeting
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There Is Still Hope for the News Business
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The Google Phone May Be Near
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Amazon Grocery Service Goes Mobile with iPhone
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How Microsoft Blew It in Mobile
Nov 17 20093:55 pm EDT -
Ten Reasons Why Startups Fail
Nov 17 20092:18 pm EDT
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Zillow's Mortgage Marketplace
Last week, I wrote about a meeting with Zillow CEO Rich Barton, and mentioned in passing that Zillow was close to launching a mortgage marketplace on the site. Well, the feature gets launched today.
As Barton showed me, the site will allow homeowners to put up an anonymous request for a bid on giving them a mortgage. Lenders who register with Zillow (for $25) can then bid -- and the homeowner decides who to contact for follow-up. Lenders will get rated by users, helping to weed out the not-so-good operators. "It's like TripAdvisor for lenders," said Barton -- who, by the way, founded Expedia when he was inside Microsoft in the 1990s.
Barton sounds pretty certain that Zillow can have a positive impact on the mortgage industry -- much needed in the wake of the sub-prime mess. "We are going to shine bright sunshine on the mortgage marketplace," he told me.
