Additionally, QuickenMortgage has also just received its 50th state license, making it the first multi-lender website to offer loans throughout all of the United States. And marking an extraordinary loan growth rate, in the last three quarters, QuickenMortgage has originated over $350 million in closed loans, with August being a record month at $75 million. This growth positions QuickenMortgage on a run-rate to exceed Forrester Research's estimate for all internet-originated mortgages for 1997.

"The phenomenal growth of QuickenMortgage has far exceeded our initial expectations," stated Alison Berkley, group product manager, QuickenMortgage. "Looking back over the past year, our site has improved the mortgage process for consumers and we have developed into a true industry leader. We believe our continued success will be based upon the strong foundation we've created through a dedication to the consumer, solid lender relationships, key alliances, and a seamless technology offering."

One Of The Most Popular Home Finance Web Sites
Since its launch in November of 1997, QuickenMortgage has hosted over 7 million visitors and is currently one of the most popular mortgage sites on the Web. In addition, the new Intuit with Realtor.com and existing relationships with America Online, Excite and CNNfn gives QuickenMortgage the potential to reach over fifteen million new consumers.

QuickenMortgage Poised To Exceed Entire Industry Estimations
QuickenMortgage has also shown strong growth in loan origination. Over the past three quarters, QuickenMortgage has originated over $350 million in closed loans with August being a record month of $75 million. This growth rate positions the mortgage site on a run-rate for a minimum of $500 million for 1998, which will exceed Forrester Research's estimated $265 million in internet-originated loans for the entire industry for 1997.

First Multi-lender To Be Licensed in All 50 States
QuickenMortgage has also just received its 50th state broker license, making it the first multi-lender website to offer loans in all 50 states. QuickenMortgage can now help consumers in all states benefit from the time and money savings offered through the online mortgage channel.

17 National Lenders
Over the next few weeks, QuickenMortgage will add seven new lenders, bringing the total to seventeen. The new lenders include three which are interfacing directly with QuickenMortgage: Cendant Mortgage, US Bank and Prism and four which are interfacing through Intuit's new technology and processing provider, First Mortgage Network (FMN). These four include: Fleet, First Union, GMAC Mortgage and GE Capital Mortgage Services, for whom submissions from the QuickenMortgage site will be directed to a team from FMN who will work with the borrower to originate, process and fund the loan prior to its ultimate delivery to the selected lender. These seven new lenders are in addition to the six Charter Lenders (November 1997): Chase, Countrywide, Dime (North American), HomeSide, PNC Mortgage and Principal Residential and five Release 2.0 Lenders (March 1998): Allied Money, American Finance & Investment, Wells Resource, LaSalle and LoanWorks. All lenders, with the exception of Wells Resource (which recently merged with Norwest), are continuing with QuickenMortgage in its second year of operation.

How QuickenMortgage Works
QuickenMortgage allows consumers to search through thousands of loans, pre-qualify for a loan online at no cost, and submit an online mortgage application for a specific loan via the QuickenMortgage web site. Users can make apples-to-apples comparisons of loans, which can be selected and sorted based on their preferences. For loans offered by the participating lenders, users can drill down and get detailed information including an itemized list of closing costs along with an online Good Faith Estimate.