Bank of America and Homestore.com, Inc. today announced the launch of a new
online homeowner service, www.bankofamerica.com/homesolutions. The site is a
fully integrated online marketplace offering a comprehensive array of
home-buying, financing, maintenance and improvement capabilities to consumers.
The launch is the first phase of a multi-year $10.5 million marketing and Web
services agreement between the companies.
According to the U.S. Census, almost 20 percent of households move annually
and nearly 65 percent of those households research their move on the Internet.
This new homeowner marketplace gives consumers the ability to customize all of
their home information and manage their needs online, from pre-qualifying and
instant decisioning on a mortgage to moving and home renovations.
As the country’s leader in online banking with more than 3.2 million
customers, Bank of America is drawing upon the Homestore.com relationship to
deliver a wide range of online home and real estate-related capabilities. In
addition to providing financial information, the marketplace features advice
and solutions for home-buying and building, renting, moving and home
improvement. This is one of the banking industry’s first marketplaces to fully
combine the financial component with homeownership solutions.
“We’re excited about providing our customers with an innovative, end-to-end
homeownership service,” said Kevin Shannon, Bank of America Consumer Real
Estate president. “It will allow them to simplify and streamline buying,
selling and maintaining a home. We are committed to partnering with companies
that deliver ’best of breed’ content and technology to our customers.”
“We are excited about our relationship with Bank of America. It gives
Homestore.com an opportunity to assist the largest bank in the country with a
major company-wide Web program and help provide additional value to its 27
million customers,” stated Stuart Wolff, chairman and chief executive officer
of Homestore.com, Inc.
Published: April 10, 2001
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