The milestone also reflects the unit's new direct lending capabilities that will allow prospective homebuyers to secure and close home loans via the Internet or phone directly from Quicken Loans. Prior to the integration, QuickenLoans.com operated as a referral site that helped consumers shop and apply for a home loan, and then passed the application to a lender who would process and close the loan. As a result of the integration, third party lenders either will transition from their previous role to instead service the loans after they are closed by Quicken Loans, or they will leave the site entirely. Quicken Loans will continue to work with more than a dozen financial institutions to ensure it provides consumers a wide selection of home loans.

"Our customers told us they wanted to work with us throughout the entire loan process," said Daniel Gilbert, CEO of Quicken Loans. "They've trusted Intuit to help them simplify their taxes with TurboTax and their personal and business finances with Quicken and Quick Books -- now we're going to help them finance their home. Because we now control every aspect of the experience and can provide the superior customer experience that Intuit is well known for, consumers will have more confidence making one of the largest financial transactions of their lifetime."

The final integration milestone merges best-of-breed functionality from the two Web sites with the high touch service from mortgage consultants in the company's 400+ seat state-of-the-art Web/Call Center facility. The combination of cutting-edge technology and personalized service provides customers the speed, efficiency and convenience of Internet-based mortgage lending.

"Integrating two very robust and complex mortgage sites with different business models in just a couple months has been a huge undertaking. We are confident that our model of working directly with customers from application to close will not only provide a WOW experience for them, but it will also provide us with the opportunity to truly revolutionize the process in which Americans get a home loan," added Gilbert.

Quicken Loans Offers Enhanced Functionality
New functionality on QuickenLoans.com includes:

• A Home Loan Monitor alerts prospective homebuyers when the time is right to refinance or purchase. Once users sign up, describe the "perfect" loan (adjustable, zero down, 30 year fixed, etc.) and what rate they are trying to meet or beat, Quicken Loans aggressively shops the market and immediately notifies users when a new loan can save them money. Users can also sign up to receive rate alerts on a daily, weekly or monthly basis to help them self-monitor the market.
• Shortened, enhanced interview process provides fast, accurate answers. The unique interview feature has been streamlined and fine-tuned to help homebuyers learn more about the pros and cons of the loans they should consider, without requiring them to enter screens and screens of information.

  "Because of the usability testing and customer feedback we've received over the past two years, we've learned how to ask really careful questions that give customers the best results. Just asking more questions is not the solution," added Gilbert.

• Full status tracking of the loan, including being able to view and print all loan documents online. In addition to the password-protected QuickStatusSM account feature that updates customers real-time on the status of their loan application as it makes its way through the process, users also receive automated emails as their loan completes critical milestones, such as appraisal or title. Day or night clients can check their loan status and immediately contact the loan consultant handling the loan at that time. Whether the loan is with the loan officer, underwriter or the appraiser, they can easily phone, fax or email the appropriate team member.

  Additionally, Quicken Loans customers can view and print all loan documents from the convenience of their computer. All documents, including the closing package, are available in Adobe Acrobat PDF format for easy proofing and printing, saving users the time and hassle of having last-minute surprises or changes in the paperwork at the closing...which could mean a delay or a forfeiture of the loan.

"We are continually working with our customers and companies in the lending industry to develop an easy-to-use, efficient online home loan process," said Gilbert. "It won't happen overnight, but we are well on our way to making some significant changes in the currently unwieldy process."