| Lending Intelligence, a mortgage industry news source, has reported that one of the best-known names in real estate Century 21, is getting into the home loan business.
Cendant Corp. has agreed to license the Century 21 name for a new mortgage banking operation to be called Century 21 Mortgage, and will make loans through Century 21 Real Estate’s 1,100 offices.
“Very often what we find is that consumers don’t often recognize the Cendant name. By making this agreement with Century 21 that allows us to work with customers under the Century 21 Mortgage name, it closes that loop a little bit,” said a Cendant spokesman.
In 1999, Cendant, which owns the Century 21, Coldwell Banker and ERA real estate franchise systems, as well as Move.com and Rent.net, had $397 million of revenue from its mortgage unit, according to Lending Intelligence. |
