REDMOND, Wash. -- Microsoft Corp. is expected to announce today that it is selling the mortgage technology division of its joint venture, HomeAdvisor Technologies Inc., and absorbing the venture's other operations into Microsoft's Network.
Its partners in the joint venture, J.P. Morgan Chase & Co. and GMAC Residential Funding Corp., have agreed to the changes, Microsoft said.
In the move, HomeAdvisor.com, the company's web site, and Realty Desktop, a web-based transaction management service for real estate brokers and agents, will be integrated into the Microsoft's network of Internet services, or MSN. HomeAdvisor.com provides real estate and home buying information and online mortgage services to consumers.
The company is hoping to sell the division responsible for developing mortgage technology, which the company had planned to market and sell to lenders.
