New Service Gives Lenders MLS listings

After securing agreements with multiple listing services across the nation, Domania founder Steve Kropper is set to launch a new service, Bank on Real Estate (http://www.bankonrealestate.com), that will give lenders branded websites which navigate to all homes for sale in particular communities, MortgageWire has learned.The service will work with a cooperating ³top market share broker in each metro area to let bank customers see all residential listings. The service will also generate buyer leads for real estate brokers and purchase-loan leads for the lenders. The service covers most major metropolitan areas,² said Mr.Kropper. According to Mr. Kropper, charges for the service will add up to 20 basis points, which he estimated as 1/3 of the average marketing cost for a purchase loan.