MINDEN, Nev.--(BUSINESS WIRE)--Feb. 26, 1998--NDS Software, Inc. (OTC Bulletin Board: NDSS) announced that it has formed a LLC with Finet Holdings, Inc. (NASDAQ:FNHC) to share revenues on a new unique co-branded Intranet Site.
This Intranet Site, named CityNet, is available to any home buyer who gains access through information provided by their real estate agent. The home buyer will see all the homes currently in the HomeSeekers.com inventory which now totals over 500,000 listings; however, the only real estate agent advertising seen by the consumer will be from the real estate agent who directed the home buyer to the CityNet site.
In addition to the display of residential real estate for sale from HomeSeekers.com, Finet will add the functionality of its iQualify.com Internet service. iQualify allows consumers to get an on-line loan decision over the Internet in minutes through Fannie Mae's Desktop Underwriter automated loan approval system. Once approved, they can select an appropriate lender and loan program from among the many Fannie Mae approved lenders. The site is expected to earn both firms substantial revenues from advertising and loan related fees.
Dan Rawitch, CEO of Finet, stated, "This unique site was created for the real estate agents who focus on representing home buyers rather than getting listings from home sellers. It is our belief that buyers' agents will remain integral part of the transaction process and we are pleased to co-create a product that caters to them."
CONTACT: NDS Software Inc., Minden
Scott Berry, CFO
(702) 782-2977
Website: www.ndss.com
E-Mail: scottberry@homeseekers.com
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