The move reflects the unit's new direct lending capabilities, made possible by Intuit's recent acquisition of Michigan-based mortgage financier Rock Financial Corp., which allow prospective homebuyers to secure and close loans directly from the Quicken Loans' Web site. To officially launch the new name, logo, and Web site, the company is kicking off a multi-million dollar advertising campaign this quarter.

With the direct-to-consumer lending model, Quicken Loans provides customers the speed, efficiency and convenience of Internet-based mortgage lending as well as the ability to work directly with an experienced lending team during every step of the process. The combination of cutting-edge technology and personalized service from mortgage professionals in the company's new 400+ seat state-of-the-art Web/Call Center facility gives consumers greater confidence as they make a critical financial decision.

"Our name change is part of Intuit's overall vision to provide consumers with a cohesive and comprehensive family of financial solutions," said Daniel Gilbert, CEO of Quicken Loans. "The new Quicken Loans name accurately reflects the company's aggressive plans to simplify, streamline, and make the entire process of getting a home loan a much better experience for consumers."

In addition to its new direct lending capabilities, Quicken Loans will continue to provide all of the same services offered by QuickenMortgage, including instant loan offers from multiple lenders, data on home buying and home ownership and tools to help the prospective homebuyer find affordable home loans.

"Quicken Loans combines online technology and personal service to make the home loan process more efficient, reducing the time and paperwork usually associated with closing a loan," added Carl Reese, vice president of Quicken Loans. "Our new direct lending business model provides consumers with the speed, efficiency and convenience of Internet-based mortgage lending as well as the ability to work directly with an experienced lending team during every step of the home loan process."

Quicken Loans uniquely combines cutting-edge technology and high touch personal service to give consumers a convenient one-stop home and mortgage shopping experience on the Internet. At Quicken Loans, consumers can compare a variety of home loan options and receive online pre-approvals based upon their personal financial criteria as well as track the status of their loan application and print loan documents directly from the site. More than 400 experienced loan professionals located in the Quicken Loans' state-of-the-art Web/Call Center work directly with consumers throughout the entire process, while the Web site educates and empowers consumers through timely interactive tools and information related to the home financing process. Quicken Loans is a wholly owned subsidiary of Intuit Inc.

Intuit, the Intuit logo, Quicken, QuickBooks, QuickBooks Pro, TurboTax, ProSeries, Pocket Quicken and InsureMarket, among others, are registered trademarks and/or registered service marks of Intuit Inc. or one of its subsidiaries. Quicken.com, QuickenStore, QuickenMortgage, Quicken Loans and WebTurboTax, among others, are trademarks and/or service marks of Intuit Inc. or one of its subsidiaries. Other parties' trademarks or service marks are the property of their respective owners and should be treated as such.

Under the terms of the agreement, Mortgage.com will offer a suite of solutions enabling banks and credit unions to expand their products and services, backed by Mortgage.com's guaranteed service commitments to the financial institutions using Open Solutions' e-Commerce platform. With the new offering, financial institutions have three options for packaging the service to consumers: Co-brand, powered by Mortgage.com where Mortgage.com and the financial institution appear jointly; Private label, where the financial institution remains the lender; and Virtual Mortgage Company, where the financial institution is the virtual lender leveraging the Mortgage.com technical and transactional infrastructure.

Louis Hernandez, Jr., Open Solutions' chairman and chief executive officer, said, "We're helping our bank and credit union customers expand the scope of their online financial services. Institutions using Open Solutions' e-Commerce Mart(TM) can now offer a unique online mortgage product that is best in class with minimal up front investment."

The Open Solutions-Mortgage.com partnership demonstrates the Open Solutions philosophy of continuously offering additional capabilities to its signature financial software solutions. The partnership complements OSI's e-Commerce Mart software suite, the company's electronic commerce platform, which facilitates business-to-business and business-to-consumer transactions between nationally recognized partner-suppliers and the financial institution's customers.

Hernandez continued, "We are our customers' partners for life, and we are doing everything possible to ensure that their customers and members feel the same way about the institutions we serve."

Under the agreement, Open Solutions will market Mortgage.com technology and solutions to its existing and potential customers.

"Our partnership with Open Solutions expands our reach into the online mortgage solution market for community banks and credit unions," said Seth Werner, Mortgage.com chairman and chief executive officer. "These financial institutions have historically played a central role in developing communities across America. Partnering with Open Solutions allows us to give them the online tools they need to better serve their customers and communities."

Open Solutions' combination of enterprise processing applications, electronic commerce and Internet banking enables community banks and credit unions to use technology and the Internet to expand their customer relationships and generate new, profitable revenue streams.

This press release includes "forward-looking" statements that reflect Mortgage.com's current view with respect to future events and financial performance. The Company uses words such as "anticipate," "believe," "expect," "future," "plan," "estimate," and "intend," and similar expressions, to identify forward-looking statements.

The forward-looking statements in this release are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. You should be aware that actual results may differ materially from the Company's expressed expectations because of risks and uncertainties inherent in future events, including such uncertainties as are described in registration statements, reports and other documents filed by the Company from time to time with the Securities.