Real estate portal HomeStore.com Inc. and Dorado.com struck a two-year deal on Wednesday that puts the financial software company’s applications for lenders on the real estate site, and promotes Dorado.com’s clients — top mortgage companies — on HomeStore.com.
The deal also calls for Dorado.com to pay HomeStore.com
for promotion of its clients on the portal, and for HomeStore.com to take an equity stake in Dorado.com.
Financial terms of the transaction weren’t disclosed, but the companies described it as a “multi-million dollar” agreement.
Under the terms of the agreement, HomeStore.com is integrating Dorado.com’s MortgageTone technology, Web-based software for lenders, into its i-LEND product. The relationship is aimed at helping lenders reach Internet customers and realtors more efficiently.
“Dorado.com’s leadership in e-commerce technology for financial services, coupled with Homestore.com’s premier position on the Internet as the number one provider of home and real estate information, should enable financial institutions to offer better convenience, service, and value to online consumers,” said Dain Ehring, founder and chairman of Dorado.com.