HomeSeekers.com Selects Pricelinemortgage As Preferred Mortgage Provider to 30,000 Realtor Web Sites Nationwide.Business Editors RENO, Nev. & JACKSONVILLE, Fla.--(BUSINESS WIRE)--May 14, 2001 HomeSeekers.com Incorporated (Nasdaq: HMSK) and priceline.com (Nasdaq: PCLN PCLN Priceline.com (stock abbreviation, AMEX) ) today announced a marketing alliance making pricelinemortgage(sm) the preferred online mortgage provider for HomeSeekers.com and for some 30,000 local Realtor Web sites around the U.S. Pricelinemortgage, the Name Your Own Price(sm) mortgage service on the Internet, is a subsidiary of First Alliance Bank and is a royalty-based licensee of priceline.com (Nasdaq: PCLN). Using pricelinemortgage, borrowers can get mortgage pre-approvals, choose their own mortgage terms, get guaranteed closing costs Closing Costs The numerous expenses (over and above the price of the property) that buyers and sellers normally incur to complete a real estate transaction. Costs incurred include loan origination fee, discount points, appraisal fee, title search, title insurance, survey, taxes, and lock in their rate in as little as 30 minutes. With pricelinemortgage's float-down rate protection feature, if rates decrease between the time the rate is locked and the time they close, borrowers get the lower rate. Borrowers can also refinance or get a home equity loan through pricelinemortgage. HomeSeekers.com provides Internet-based technology Refers to the communications infrastructure of the Internet, which is based on the IP protocol. IP is part of the TCP/IP protocol suite. It may also refer to voice over IP (VoIP), which uses the Internet to make telephone calls. See VoIP, IP and TCP/IP. solutions to the North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. and international real estate markets. In addition to hosting its own a listing service on the Internet, HomeSeekers.com develops and maintains localized Web sites where consumers can view the offerings of local Realtors and home listings which are updated daily. The company also develops and maintains intranets for MLS See multilevel security. and local Realtor sales forces. In total, HomeSeekers.com has developed approximately 30,000 real estate Web sites. "Being chosen as HomeSeekers.com's preferred mortgage provider is another example of the momentum and market recognition for pricelinemortgage's unique approach to borrowing," said priceline.com Executive Vice President Mitch Truwit. "This designation complements pricelinemortgage's recent selection to the Forbes Best of the Web list and the recent attention our service has received from respected national publications like The Wall Street Journal." "Pricelinemortgage's services will make local Realtors' Web sites more attractive and `stickier' by offering a one-stop solution to consumers' househunting and mortgage needs," said Pat McEnerney, President of pricelinemortgage. "Home buyers will benefit through the personalized savings they can realize through pricelinemortgage." "We are pleased to partner with one of the nation's best-known e-commerce brands," said John Giaimo, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of HomeSeekers.com. "Pricelinemortgage has found a way to make the mortgage application process fast, easy and efficient. Coupled with the potential of significant savings, this will be a valuable service that Realtors can offer their customers." About Pricelinemortgage Based in Jacksonville, Fla., pricelinemortgage is an operating subsidiary An operating subsidiary is a business term frequently used within the United States railroad industry. In the case of a railroad, it refers to a company that is a subsidiary but operates with its own identity and rolling stock. of a Federal Savings Bank Noun 1. federal savings bank - a federally chartered savings bank FSB savings bank - a thrift institution in the northeastern United States; since deregulation in the 1980s they offer services competitive with many commercial banks and is an Equal Housing Lender The terms Equal Housing Lender and Equal Opportunity Lender are synonymous and refer to all FDIC insured banks in the United States. Such banks are prohibited from discriminating on the basis of race, color, religion, national origin, sex, handicap, or familial status. . The company is a royalty-based licensee of priceline.com. Pricelinemortgage has closed loans in all 50 states, as well as the District of Columbia District of Columbia, federal district (2000 pop. 572,059, a 5.7% decrease in population since the 1990 census), 69 sq mi (179 sq km), on the east bank of the Potomac River, coextensive with the city of Washington, D.C. (the capital of the United States). . About HomeSeekers.com HomeSeekers.com is a leading provider of technology to the North American and international real estate industries. HomeSeekers.com recently was ranked one of the top home buying Web sites by Forbes' "Best Of The Web". The company provides technology solutions and services targeted to brokers, agents, Multiple Listing Services (MLS), builders, consumers and others involved in the real estate industry. HomeSeekers.com currently features approximately one million global home listings that are updated daily and available in English, Spanish and French. Product and services offerings can be viewed at the company's primary Web site, www.homeseekers.com. About priceline.com Priceline.com is the Name Your Own Price(sm) Internet pricing system Noun 1. pricing system - a system for setting prices on goods or services system - a procedure or process for obtaining an objective; "they had to devise a system that did not depend on cooperation" that provides services across four product categories: a travel service that offers leisure airline tickets, hotel rooms and rental cars; a personal finance service that offers home mortgages, refinancing and home equity loans through an independent licensee; an automotive service that offers new cars; and a telecommunications service In telecommunication, the term telecommunications service has the following meanings: 1. Any service provided by a telecommunication provider. 2. that offers long distance calling services. Priceline.com licenses its business model to independent licensees, including pricelinemortgage and certain international licensees. In these arrangements, priceline.com generally receives royalties for licensing its intellectual property. Priceline.com also holds securities carrying the right to purchase a significant equity stake in the licensees under certain conditions. Unless those rights are exercised, the results of licensee operations will not be included in priceline.com's financial statements. Information about Forward Looking Statements This press release may contain forward-looking statements. Expressions of future goals and similar expressions including, without limitation, "may," "will," "should," "could," "expects," "does not currently expect," "plans," "anticipates," "believes," "estimates," "predicts," "potential," or "continue," reflecting something other than historical fact are intended to identify forward-looking statements. The following factors, among others, could cause the Company's actual results to differ materially from those described in the forward-looking statements: inability to successfully expand the Company's business model both horizontally and geographically; adverse changes in the Company's relationships with airlines and other product and service providers; systems-related failures; the Company's ability to protect its intellectual property rights; the effects of increased competition; losses by the Company and its licensees; any adverse impact from negative publicity and negative customer reaction relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc recent announcements concerning the Company; legal and regulatory risks and the ability to attract and retain qualified personnel. For a detailed discussion of these and other factors that could cause the Company's actual results to differ materially from those described in the forward-looking statements, please refer to the Company's most recent Form 10-Q Form 10-Q See 10-Q. and Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. filings with the Securities and Exchange Commission. |
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