Priceline Buys Stake in PricelineMortgage

Published October 10, 2001, 1:00 p.m. EDT

|

Updated October 10, 2001, 1:00 p.m. EDT

1 Min Read

Norwalk, Conn.-based Priceline has announced that it will exercise its option to take a 49% equitystake in PricelineMortgage, the "name your own price" loan service founded by priceline.com and AllianceCapital Partners. Priceline said PricelineMortgage has been operating profitablysince February 2001 and that its results will be consolidated with priceline.com's financial results in the fourthquarter. PricelineMortgage also announced the launch of a guaranteed best-rate promotion available through Nov.30. PricelineMortgage is guaranteeing that it will get borrowers the lowest-cost loan on the market at the timeor pay them $300 as a way of touting the company's promise to deliver the best deals on the Internet. The company'swebsite address is http://www.priceline.com.

Processing Content

For reprint and licensing requests for this article, click here.

MORE FROM NATIONAL MORTGAGE NEWS

Housing

Banks sour on Senate housing bill, but may not stop passage

What was once a bipartisan and broadly popular housing bill has been weighed down with a pair of provisions that banks can't support. Even with those headwinds, the bill is more likely than not to pass, but not without drawn-out negotiations between the House and Senate.

By Claire Williams
Reporter

3h ago
Federal Reserve

Fed's Barr: No interest rate cuts until inflation is tamed

Federal Reserve Gov. Michael Barr said in a speech Tuesday afternoon that he wants to see a durable and reliable reduction in consumer price inflation before he considers cutting the central bank's interest rates.

By Maria Volkova
Reporter

March 24
Regulation and compliance

Supreme Court won't hear mortgage firm's appeal in CFPB case

The long-defunct Nationwide Biweekly Administration, accused in 2015 of deceptive marketing, has been ordered to pay a $7.93 million civil money penalty.

By Andrew Martinez
Reporter

March 24
Fraud

US Mortgage sued over ransomware attack

The Long Island-based lender is one of five nonbanks since January to have disclosed a prior hack, with the extent of those incidents remaining unknown.

By Andrew Martinez
Reporter

March 24
Housing markets

Home sales cancelled at record rate as buyers hold power

More than 42,000, or 13.7%, of home-sale agreements in the United States fell through in February, according to a new Redfin report.

By Colin McNamara
Reporter

March 24
Credit scores

Senator calls for FTC investigation into FICO score pricing

Republican Sen. Josh Hawley repeated his long-standing criticism of Fair Isaac Corp. in a letter noting the detrimental impact of its prices on home buyers.

By Spencer Lee
Technology Reporter

March 24