A Real Estate Discussion Blog

If you are not familiar with the Zillow Mortgage Marketplace, Spencer just did a great recap of the program here.  This is a great place to start learning about how to use the service. 

If you are a ZMM old-timer (being that it is all of 3 weeks old now), here are some highlights of things we have recently added to the site:

1) Zillow Mortgage Marketplace is now more transparent than ever.  A week ago, we added functionality where users can search and view all of the annoymous quotes in the database.  They can filter their search to quotes that were just created, or quotes in a specific area. 

2) The main Mortgage page was enhanced with a scrolling quote box - When you log onto Zillow and click on the Mortgage tab, there is a new area on the page that will scroll through highlights of recently submitted quotes.  

3) Also, this new box features the average APR that the 30 year and 15 year fixed mortgages are currently being quoted at by the community.  This helps people quickly determine what average rates are and it could help them more easier spot a bogus rate by knowing what the averages are.  

We are looking forward to hearing about some loans closing soon.  I loved seeing this comment on Spencer's post mentioned above: 

Spencer - I will probably close my first loan through this in about 30 days (Purchase Money).  The borrower saw my quote and then googled my name and came across my blog here.  He did his homework and decided he wanted to work with me.  What is impressive to me is that he's an extrememly intelligent in regards to Mortgages and the whole process.  He liked the idea of being able to 'shop' anonymously and then do his own legwork from there. 

Best of luck to Jason and to the other 1,300 lenders that have now signed up!

Update- We also added a link into the mortgage center with a module on every Home Detail Page in the right hand column.