Internet service provider Juno Online Services Inc. said yesterday that it formed a marketing alliance with HomeSide Lending Inc., and that the financial services company will be the exclusive provider of residential mortgages to Juno subscribers and visitors to the Internet service provider's portal.
Under terms of the agreement, HomeSide Lending will offer Juno members a variety of mortgages and home equity lines of credit. HomeSide Lending will pay Juno for marketing its mortgage services on its portal. The mortgage company did not say how much it will pay Juno.
HomeSide Lending said its mortgage process offers approvals in as little as 10 minutes, features a loan application with 50 percent fewer questions than traditional applications and offers loan approval even if the customer has not selected a property to purchase. Juno members can sign up for mortgages through the ISP's Web site or by calling a toll-free number.
HomeSide Lending is a subsidiary of Jacksonville, FL-based National Australia Bank. The company has a mortgage servicing portfolio of nearly $190 billion.
