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					IT’S OUR MORTGAGE COMPANY NOW                                largest retail mortgage originator, to act as a unified
NRT Companies to Benefit from Newly Branded                  company and reinforce the same branded message to
Mortgage Program                                             clients,” Edwards said. “Our competitors don‟t have
                                                             this advantage.”
     NRT companies are now able to offer a consistent,            For various reasons, there are several NRT
branded program to clients that includes their core real     companies that will not make the transition to the
estate services, as well as their own mortgage product.      branded mortgage program at this time. These
In January 2001, NRT president and chief executive           companies will continue to operate their own loan
officer Bob Becker announced that the Cendant                officer mortgage programs under their existing names.
Mortgage program will operate under the brand-specific            The NRT family will receive new brand-specific
names Coldwell Banker Mortgage, ERA Mortage and              marketing materials in February. The new collateral —
Century 21 Mortgage. The newly branded programs              brochure/applications, business cards, and banners —
were scheduled to be introduced to NRT companies and         will carry the look and feel of each company‟s
clients beginning in February.                               respective real estate brand and reinforce that particular
     “We saw the branding of the mortgage product as a       brand image.
unique and exciting opportunity for NRT companies to              For example, ERA Mortgage will use the
provide clients with a uniform program, one that would       catchphrase “Always There For Your Mortgage
further reinforce their full-service image in their local    Needs,” in its marketing materials. Century 21
marketplace,” said Jim McCormick, NRT vice                   Mortgage will use the tagline “Real Estate Financing
president, mortgage development. “If a client is already     for the Real World,” and the marketing theme for
„sold‟ on the real estate company he or she is working       Coldwell Banker Mortgage will be “What Getting A
with — Coldwell Banker, ERA or Century 21 — why              Mortgage Should Be.”
not build on that relationship and refer him or her to the        Mortgage is perhaps the single biggest opportunity
same branded mortgage lender?”                               for growth within NRT in the future and one that is
      Terry Edwards, president and chief executive           integral to the real estate process. Last year, NRT
officer of Cendant Mortgage, added, “We are privileged       closed more than $5 billion in mortgage volume. This
and proud to be able to deliver mortgage services as a       was achieved with a 16 percent overall capture rate.
part of these exceptional NRT brands. Clearly the                 “We hope to bridge the gap between those clients
branded mortgage names are more familiar than                who only use the real estate services of our companies
Cendant when discussing a client‟s mortgage needs.           and those that use both the real estate and mortgage
We will work very hard to make sure NRT sales                services,” McCormick said. “With such a proven
associates are proud of their Mortgage company.”             partner in Cendant Mortgage and a newly branded
     The branding will be integrated into all aspects of     product, we have a tremendous opportunity to reach
the loan origination process — from the confirmation         this goal and provide even more clients with Truly
packages to the payment coupons. This means NRT              Remarkable Service.”
companies will enjoy continuous top-of-mind brand
awareness, consistent brand-specific marketing
messages and the added confidence that they are              ***SIDEBAR STORY FOR PAGE 9
recommending “their own” mortgage company to
clients. Sales associates will no longer have to explain     Pittburgh: A Mortgage Success Story
to clients who Cendant Mortgage is and why they are               In 2000, NRT‟s family of companies finished the
recommending its services. At the same time, clients         year with an average mortgage capture rate of better
will appreciate the peace-of-mind that comes from            than 16 percent on every buyer-controlled sale (see
using a real estate brand name they recognize and trust.     chart).
Behind the newly branded mortgage services, NRT                   Coldwell Banker Real Estate Inc. of Pittsburgh
customers‟ one-stop-shopping experience will be              topped the chart with an NRT-high 32.5 percent capture
enhanced by the same excellent level of service that         rate. That means one out of of every three sales in
Cendant Mortgage currently provides.                         Pittsburgh were accompanied by a Cendant Mortgage.
     Edwards cited a recent poll conducted by Realty         So what does George Hackett, Pittsburgh metro
Times and Gomez. The results show that nearly 27             president, think about the new branding of the Cendant
percent of consumers said they speak to a mortgage           Mortgage program?
lender before working with a Realtor to determine how             “The word, easy, comes to mind,” Hackett said. “It
much they can spend on a home.                               will be easier for my agents to sell and easier for clients
     “This statistic presents a unique opportunity for       to understand. The Coldwell Banker name carries a lot
NRT, the country‟s largest residential real estate           of equity, so branding the mortgage as Coldwell Banker
company, and Cendant Mortgage, the nation‟s fourth           Mortgage makes a lot of sense.”
     Hackett expects that when the process becomes
easier, higher conversion rates will follow.
     “For many of our competitors, providing
mortgages to clients is an ancillary service, not core to
the transaction,” said Hackett. “For us, mortgage is as
important as the real estate transaction itself. Mortgage
is an opportunity to provide our clients with a valuable
and necessary service, while earning significant profits
for our company. It‟s a win-win scenario.”
     To launch the newly branded program, Hackett
recently hosted a company-wide event with his office
managers and sales associates, where he made the
formal announcement. Flying overhead was a banner
that exclaimed, “Cendant Mortgage is now Coldwell
Banker Mortgage.” Additionally, Hackett will visit
each of his 14 offices in greater Pittsburgh to further
communicate the change and has also included an
article in the company‟s monthly newsletter.
     So, what is the secret to Pittsburgh‟s mortgage
success? Hackett sets monthly mortgage goals for each
of his offices and monitors them closely.
     “It‟s important to give people specific goals,
accountability for those goals and the resources they
need to be successful,” Hackett said.
     This combination seems to have paid off.
Pittsburgh has enjoyed the top spot in NRT mortgage
capture rates for five years running. The question
remains, can they do it again in 2001?
     “Cendant Mortgage has always provided our
clients with the utmost in service,” said Hackett. “With
our enthusiastic professionals selling the mortgage
product and their dedicated team servicing the client,
what excuse could I have to not be successful? As far
as I‟m concerned, the sky‟s the limit when it comes to
providing mortgages to clients. I‟m looking forward to
the ride!”



*** BOX THIS CHART WITHIN THE SIDEBAR

NRT MORTGAGE LEADERS FOR 2000
         NRT                                    Capture
    Rank Metrocenter                            Rate
    1.   Pittsburgh ........................... 32.5 %
    2.   Minnesota .......................... 28.2 %
    3.   New Jersey (Burgdorff) ..... 24.8 %
    4.   Northern California
          (SevilleContempo) ......... 22.7 %
    5.   New Jersey (CBRB) .......... 22.2 %