Intuit Signs Agreement To Sell Its Quicken Loans Business

Intuit Signs Agreement To Sell Its Quicken Loans Business

  • June 20, 2002

Intuit Inc. (NASDAQ: INTU) today announced it has signed a definitive agreement to sell its Quicken Loans mortgage business. When the transaction closes, Quicken Loans will become a wholly owned subsidiary of a newly created company and will continue to offer residential home mortgages and home equity loans under the Quicken Loans brand. The new company’s investors will be led by Dan Gilbert, chairman of Quicken Loans and founder of Rock Financial Corp. (the predecessor of Quicken Loans), which Intuit acquired in December 1999. Intuit will hold a 12.5 percent equity interest in the new company.

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Microsoft Inks Marketing Agreements With Netbank And Quicken Loans

  • May 13, 2002

Microsoft Corp. today announced that NetBank Inc. (Nasdaq “NTBK”) and Quicken Loans Inc. have signed agreements to advertise on and offer links to their services from CNBC on MSN? Money, available at http://money.msn.com/. The agreements enable the two financial providers to extend awareness of their products to the more than 20 million monthly visitors at CNBC on MSN Money.

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