Industry News

Upromise signs up real estate lenders

CitiMortgage, Chase, WaMu, Wachovia add college savings plan

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Upromise Inc., an online company that aims to help families save for college, today announced the launch of the Upromise Mortgage program with Awards for Mortgage & Real Estate. Through this new program, members now can earn 0.25 percent of their total home loan amount at closing in Upromise ScholarDollars when they finance, refinance or secure a Home Equity Line of Credit. Members can select from four of the nation's leading mortgage lenders: CitiMortgage, a member of Citigroup; Chase Home Finance (the mortgage division of JPMorgan Chase & Co.); Washington Mutual Inc.; and Wachovia Mortgage Corporation's Corporate Mortgage Services Division. Each Upromise ScholarDollar is equivalent to one U.S. dollar in a Upromise account. "With the help of the Upromise Mortgage program, one of the largest financial decisions a family can make can now contribute to perhaps the most important family investment – a college education for their children," said Michael Libenson, vice pres...