"By comparison shopping online, consumers can save time and money and make a more informed mortgage decision," said Bill Harris, Intuit executive vice president. "At Intuit, we strive to make financial decisions easier, by providing objective information and interactive tools on all aspects of household and family finances. In this case, we have created a new channel for mortgage lenders to communicate directly with their customers and prospects."

QuickenMortgage's unique Pre-qualification Interview helps consumers make apples-to-apples comparisons of different mortgage loan products, customized to their particular property and financial situation. Potential home buyers and customers seeking to refinance can pre-qualify in minutes with one of the six charter lenders, and even start the mortgage application process online.

Chase Manhattan Mortgage Corporation, Countrywide Home Loans, HomeSide Lending, North American Mortgage Company, PNC Mortgage, and Principal Residential Mortgage, six of the nation's top 25 lenders, are offering loans electronically via QuickenMortgage. These lenders, and others to be added in the future, will offer a wide range of products, including conventional and jumbo loans with fixed or adjustable rates, or balloon payment loans, directly to customers visiting the QuickenMortgage site. Also available are Veteran's Administration (VA) and Federal Housing Administration (FHA) loans.

For consumers who are not yet ready to get a loan, QuickenMortgage offers three interactive tools:

• "How Much House Can You Afford?" calculates the loan amount a consumer can afford and how to afford an even bigger loan.
• "Should You Refinance Today?" assesses a homeowner's current mortgage and suggests whether refinancing makes sense, based on the current lending rates.
• "What Are Today's Rates?" displays the current average rates available for different types of loans in each state.

Consumers can also use QuickenMortgage to get real estate and mortgage news from independent services such as Inman News and Mortgage Market Information Services. Expert advice is also available as well as a comprehensive directory of web resources featuring the best home and mortgage web sites.

QuickenMortgage is free to all users and can be accessed from the Internet at http://www.QuickenMortgage.com or directly from their Quicken 98 software. QuickenMortgage is also available through Excite's Business & Investing Channel and Intuit's Quicken.com.

Harris said that in the future QuickenMortgage will provide consumers the ability to complete a full application online, lock in rates, obtain a credit report, and use "best-fit" analysis tools that will allow visitors to calculate the impact of various mortgage options on their current financial situation.

"Chase is excited to be a Charter Lender for Intuit's QuickenMortgage," said Gregg Gorman, executive vice president of Chase Manhattan Mortgage. "Blending Chase's strength in the mortgage industry with Intuit's experience in software development will create a powerful combination that can benefit all of our mutual customers."

"Intuit's approach is consistent with Countrywide's consumer direct strategy to provide easy direct access to home loan products," said Stan Kurland, president of Countrywide Home Loans. "We feel Intuit's expertise in personal financial software combined with Countrywide's mortgage processing efficiency creates a great opportunity to serve the home loan needs of more consumers."

"HomeSide Lending and Intuit are both proven leaders in the financial marketplace," said Mark Johnson, Homeside's executive vice president of Production. "Working together on QuickenMortgage, we believe we will provide new and exciting alternatives for consumers seeking to fulfill their dreams of homeownership."

"The timing of North American Mortgage Company's alliance with Intuit will allow us to showcase our expanded line of mortgage products, which was brought about by the recent merger of Dime Savings Bank and North American Mortgage," explained Fred Koons, chairman and chief executive officer of North American Mortgage Company -- now the eighth-largest residential lender. "QuickenMortgage will provide consumers with a convenient, cost-effective means to obtain one of our many mortgage products for the purchase or refinance of a home," added Koons.

"Participation on Quicken Mortgage is a natural next step for PNC Mortgage," said Rick Lovett, executive vice president of PNC Mortgage. "PNC Mortgage has extensive experience offering mortgages to customers anywhere in the United States through innovative and convenient channels that converge at its national telemarketing center. The Intuit QuickenMortgage web site is very customer friendly and we are pleased to be a charter participant."

"Intuit is at the forefront of consumer direct software and marketing," said Paul Bognanno, president and CEO of Principal Residential Mortgage, Inc. "Combining their skills with Principal Residential's mortgage expertise will give online consumers a real edge when it comes to mortgage transactions. We expect the consumer to benefit tremendously from this powerful combination."

"Enabling consumers is our top priority at Inman News Features," said Kris Inman, executive vice president, Inman News Features. "Intuit is completely devoted to that mission."

"We are looking forward to providing our information to Quicken's Internet visitors to ease many of their concerns surrounding the complexity of mortgage loans," said Jim De Both, president of Mortgage Market Information Services. "We take pride in our role as an advocate for consumer mortgage information. QuickenMortgage users will be able to use this information to make a more educated home financing decision."