Intuit to Unveil Online Mortgage Service

Intuit Inc. will unveil a new service today that lets people apply for mortgages on the Internet, as the personal-finance software maker seeks to expand its brand name online. The service, called QuickenMortgage, lets Internet users compare mortgage loan products and adapt information to their property and financial situations. Prospective home buyers can start the mortgage application online. In later versions, users will be able to complete full applications, lock in rates and obtain credit reports. Mountain View-based Intuit, which makes the popular Quicken software, is trying to gain recognition on the Internet as more people use the global computer network for research and comparison shopping. Mortgage companies on the site include Chase Manhattan Mortgage Corp., Countrywide Home Loans Inc., Homeside Lending Inc., North American Mortgage Co., PNC Mortgage and Principal Residential Mortgage. Shares of Intuit rose $1.25 to close at $33.88 on Nasdaq.