MSNBC web site begins running Bankrate data

MSNBC.com will begin running data on mortgages, home equity lines and auto loans in its business section, according to an agreement with Bankrate.com.

A story on the site stated, “‘We chose Bankrate.com to provide a solution for this vital information because Bankrate is known for providing clear, objective and unbiased information on rates,’ said msnbc.com business editor Martin Wolk.

“Bankrate surveys nearly 5,000 financial institutions daily for rates on more than 300 financial products, including mortgages, certificates of deposit, auto loans and credit cards. Rates are submitted by financial institutions, then checked by a team of researchers including ‘mystery shoppers’ who verify that the advertised rates are truly available.

“Banks that fall afoul of a ‘three strikes’ policy are ejected from the system and must resubmit their documentation to be readmitted.”

Read more here. MSNBC.com will also run articles from Bankrate’s editorial staff.