In an alliance that creates a new power in the budding business of on-line mortgages, Microsoft Corp., Freddie Mac and several large banks plan to announce today a joint venture that will license Internet-based lending technology to lenders, brokers, and real estate professionals.

Freddie Mac and the home loan units of Bank of America Corp., Chase Manhattan Corp., Wells Fargo & Co., and General Motors Corp. are Microsoft's partners in the new company, dubbed HomeAdvisor Technologies Inc. Freddie Mac's automated underwriting program, Loan Prospector, is embedded in the HomeAdvisor platform.

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