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Quick Hits: for Home Buyers


Brief scrutiny of today's headlines

Real estate valuation website makes property values available gratis. That they're woefully inaccurate doesn't seem to make much difference. After all, they're free.

Now Zillow is transitioning away from its core competence of incompetent property valuations and connecting potential borrowers to mortgage lenders.

The new service will allow buyers to request loan quotes from a network of screened lenders. Zillow says it verifies each lender's identity and applicable licensing. This rock solid quality control procedure is sure to weed out unscrupulous lenders like now defunct Ownit, New Century, American Home and recently collapsed Countrywide (CFC) and Bear Stearns (BSC). Since none of these lenders have had identities or licenses, Zillow is sure to catch future predatory lending before it happens.

For more on mortgage lending, check out Hoofy & Boo's always astute report.

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