Homestore.com, Inc. has formed a two-year, multi-million dollar technology and marketing alliance with OnePipeline, Inc., the leading provider of automated legal compliance software and services related to mortgage loan origination and related compensation.

What does that mean translated into plain English? Realtors will be able to originate loans - legally. Take that, lenders who are trying to become real estate brokers! With one signed agreement, the National Association of REALTORS and its equity partner Homestore has just moved the Realtor from the center of the transaction to the front and center, making this one of the biggest news stories of the year in the real estate sector.

Onepipeline trains and enables real estate agents to originate loans themselves, instead of handing their buyers off to a lender. But, watch for the leading lenders in the land to scramble to get on board as part of the RESPA compliance laws insist that borrowers have a selection of lenders from which to choose. The compliance platform is so democratic, in fact, that agents can enable their favorite local lenders on the platform, too.

Under the terms of the deal, Homestore.com™ will use OnePipeline as its provider of automated legal compliance technology related to compensation for real estate professionals that assist with mortgage loan origination. Homestore.com also will acquire equity in OnePipeline, but spokespersons declined to say how much or if money has already changed hands, or if the equity is above and beyond the revenue-sharing of such strategic partnerships.

Both companies will promote OnePipeline’s Automated Compliance System™ that features a sophisticated Automated Compliance Engine (ACE)™ with workflow software that conforms to constantly monitored and frequently changing laws, regulations and disclosure requirements governing real estate and mortgage lending.

Here's the part that should please Homestore investors. OnePipeline’s ACE™ technology enables third parties, such as real estate professionals, to offer mortgage products and services to homebuyers, and to get paid for much of the work they are already doing to make sure the loan closes properly and on time. What makes this such big news is that, until now, the advantage has all been the lender's as Realtors have been prohibited from collecting commissions or finder's fees with regard to the loan. Now the shoe is on the other foot. Lenders will be paying Realtors for a shot at the home purchase loan, and Homestore will get a piece of every compliance contract.

Onepipeline doesn't plan to rest on its laurels with the Homestore contract. In addition to being added to Homestore's eRealtor client/business/transaction platform, the loan compliance technology can also be private-labeled so real estate broker-owners can offer an easy and convenient means for their agents to obtain services from the brokers’ affiliated mortgage company. The software also provides real estate brokers and lenders with web-based tools for distributing and auditing these fees.

“We’re pleased to provide this important new opportunity for real estate professionals to perform more efficiently with better tools,” stated Stuart Wolff, chairman and CEO of Homestore.com, Inc. “ACE™ technology benefits real estate pros by allowing them to be positioned at the center of the facilitate key aspects of the mortgage process, which ultimately helps consumers streamline the mortgage transaction.”

OnePipeline chairman and CEO David F. Broadbent said, "We are excited to be strategically aligned with Homestore.com. As the #1 supplier of professional tools for real estate professionals, Homestore.com is the most logical and best choice for rolling out ACE™ technology to the market.”

A spokesperson with Onepipeline declined to announce which lenders will be licensing the Onepipeline compliance technology, as the lineup is rapidly changing with the fallout of this announcement, but you can bet the lineup will be impressive.