Webware Radar: LoanMarket's mortage hub
Also: Glam Media raises $10 million, Revolution Money captures $42 million in Series C Funding, and Zillow has new lead and loan information in its Mortgage Marketplace.
LoanMarket.net announced on Monday that it has launched its online marketplace for buying and selling mortgages.
According to the company, its service allows both buyers and sellers to come together in a "neutral, open marketplace" to trade mortgages and other real-estate secured note investments.
The site has a variety of sellers, including mortgage originators, banks, and lending institutions, mortgage pool investors, small private investors, and seller carry-back note holders. All the notes listed on the site include current market value information, as well as a photo of the property taken within 14 days of the post. All vital loan documentation, such as the note, deed, and title will also be included in the listing. The site is live now.
Vertical ad network Glam Media raised $10 million in a round of funding that was led by Mizuho Bank, the company announced Monday. According to the company, it will use the funding to continue its expansion in the United States, and grow its operation in Japan and Germany.
Glam Media also announced on Monday that it has formed a joint venture with agencies and media companies in Japan. Dubbed Glam Media Japan, the venture combines the country's third-largest advertising agency, Asatsu-DK, and a variety of other Japanese firms with Glam.
Revolution Money, a company that helps users reduce the cost of credit cards online, announced on Monday that it has raised $42 million in a Series C round of funding led by Goldman Sachs. Citigroup and Morgan Stanley also participated in the round. The company plans to use the funding to grow its cost reduction operation.
Online real-estate search site Zillow announced on Monday that it has inked deals with Leads360 and LoanSifter, firms that specialize in real-estate leads and loan information, respectively, to improve the site's Mortgage Marketplace.
Users can now follow leads and use LoanSifter's loan-pricing engine to get accurate information about how much a mortgaged property will really cost. The new features are available now on Zillow.