Discover Financial Services
) has significantly enhanced its line of services in recent
times, shares of the company have remained mostly constant.
Discover Financial Services, apart from being a popular card
issuer, provides home loans through its subsidiary Discover Home
Loans. This subsidiary has recently added a "home search" tool to
its existing services, offering prospective home buyers the ease
of gathering information regarding homes, real estate agents, as
well as the financial aspects at one-stop.
What the Product's About
This new Multiple Listing Service search tool has been provided
by Cartus Corporation, a real estate broker in the U.S. The
specialty of this tool lies in its easy to navigate features, the
availability of an up-to-date data of homes that are for sale in
the U.S. and also a list of elements considered while purchasing
a home, like nearby schools, neighborhoods etc.
Moreover, the tool will provide navigators with an access to
Discover Financial's online calculators, aimed at helping
customers estimate their capacity to purchase a home based on the
available financing options. Along with the online facility,
homebuyers will have the option to consult a real estate
professional through the Real Estate Rewards program. In fact
after completion of a transaction, homebuyers might receive
rewards ranging from $200 to $3100.
How It Helps Discover Financial
Discover Financial's home loan subsidiary has been working hard
towards simplifying the home buying experience for quite some
time. For this the company incorporated usage of modern
technologies and online tools to enhance the home buying
As more customers navigate the site and show interest in
buying homes, they will resort to home loans provided by Discover
Financial to fund their transactions. This will help Discover
Financial to generate growth in its home loan business.
Moreover, previously home buyers relied largely on traditional
information sources like newspapers and real estate magazines to
conduct their home search. But now, with the advancement of
technology, online real estate research web sites have gained
As per a report by National Association of Realtors, 74% of
home buyers prefer using the internet for searching homes. At
this juncture, the roll-out of the online home search tool by
Discover Financial reflects the company's intentions to tap the
market opportunity and emerge as one of the leaders in the space.
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Discover Financial carries a Zacks Rank #3 (Hold). However, other
better-ranked stocks in the financial services industry include
Capital One Financial Corp.
World Acceptance Corp.
). All three stocks carry a Zacks Rank #2 (Buy).