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New PowerSite Advisor from Mortgagebot Enables Lenders to Fully Integrate Mortgage Business Channels (Press release) Mortgagebot introduces a new software tool that enables branch, call-center staff to take complete, error-free mortgage applications in minutes. More... |
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Transforming the Point of Sale By Scott Happ (As published in Mortgage Technology magazine — October 2008) While many expected the Internet to redefine lending much earlier, Web-based models such as software-as-a-service (SaaS) are finally catching on. And the online channel is actually faring better when compared to originations overall. Borrowers want Web-based self-service; they want to shop around and feel empowered. Scott Happ, President and CEO at Mortgagebot, talked with editor Tony Garritano about how the current impact of the Internet on the mortgage point of sale. More... |
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A Message from the President (From the Mortgagebot .communicator newsletter, September, 2008) Deloitte Consulting recently issued a remarkable new study of online mortgage lending. Their research centered on the attitudes and behaviors of mortgage applicants, both those that applied online and those that applied in person. More... |
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A Message from the President (From the Mortgagebot .communicator newsletter, June, 2008) In today’s turbulent economic environment, it is vital that financial institutions properly distinguish between temporary influences and more permanent forces. More... |
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Jumping on the Online Bandwagon (As published in Mortgage Banking magazine — December, 2007) If you’re like many forward-thinking mortgage lenders, you’ve already created some kind of Web site. Your online mortgage business may be profitable, but how can you better gauge your online lending success? Benchmarking your performance to others can help you respond to industry trends—and optimize your business practices. More... |
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2007 Benchmark Study Podcast (From Online Mortgage Podcast — October, 2007) Dan Welbaum, Chief Marketing Officer of Mortgagebot, discusses Mortgagebot’s 2007 Benchmark Study with Owen Raun of Online Mortgage Podcast. Points include the average consumer income and credit profile, most active time of day for the online client and some interesting insight into the mortgage process. Dan also discusses the history and focus of Mortgagebot and its evolution to becoming the leading provider of internet-based loan origination solutions for the mortgage lending industry. Listen to the podcast or right-click here and select "Save Target As..." to download the podcast to the destination of your choice. |
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Mortgagebot introduces Mortgage Marvel® (A Mortgagebot White Paper — October 2007) Mortgagebot is pleased to introduce Mortgage Marvel (www.mortgagemarvel.com), the groundbreaking mortgage-shopping Web site that enables borrowers to connect instantly, directly, and privately with the same advanced, online lending system used by hundreds of local, regional, and national lenders. For the first time, borrowers can be assured that the interest rates and fees they see online are the actual rates and fees they will receive when applying for a loan. But not only do borrowers discover a rich and satisfying shopping experience with Mortgage Marvel—lenders get what they need, too. Now local and regional lenders can take advantage of a loan-aggregation service that enables them to successfully compete with today’s popular online loan portals and aggregators (such as Lending Tree and BankRate.com). More... |
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A Message from the President (From the Mortgagebot .communicator newsletter, September, 2007) To say the least, this is an extraordinarily difficult time for the mortgage industry. Thankfully, the Partners we serve — banks and credit unions — are financially healthy, have ample liquidity to support additional lending, and are likely to benefit from the shakeout underway in the mortgage broker market. Two reasons banks and credit unions have healthy mortgage businesses today are that they have consistently focused on prime grade loans and have relied on their own cash reserves, along with Freddie Mac and Fannie Mae, for funding. This strategy is paying dividends, as our Partners’ volume remains strong despite the contraction in the overall market. More... |
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Main Street Mortgage Lender Finds Web a Good Fit (From ABA Banking Journal - March, 2007) Sometimes the confirmation that you’ve really rung the bell with a new service comes from an unplanned source. That’s been the experience of Sunflower Bank, N.A., since it moved into online loan applications. What began as a measure to keep the bank current in consumers’ eyes, and to counter competitors’ online efforts, resulted in such a strong evolution in staff use of technology that the bank wound up upgrading to an add-on service from its vendor, Mortgagebot. On the electronic front, Sunflower had faced competition from a much-larger lender that had launched its own online lending effort to attract the interest of the home-buying public. More... |
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Breakthrough Developments Transform How Customers Are Served By Scott Happ (From Mortgagebot Newsletter - December, 2006) There are typically a handful of watershed developments in the history of any business that serve to transform the nature of a firm and how it serves customers. Such events include the introduction of the iPod by Apple Computer and the minivan by Chrysler Corporation. Both of these companies invented products which leveraged existing competencies and, in the process, met the unaddressed needs of customers. In my view, 2006 will go down as a transformative year for Mortgagebot due to the release of Mortgagebot PowerSite™ Pro. The introduction of this groundbreaking tool significantly broadens our ability to meet the needs of retail lenders for point-of-sale technology More... |
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Twelve Myths of Online Lending By Scott Happ (As published in Mortgage Banking magazine - December, 2006) No one really knows how much of today’s retail mortgage business is done online. On occasion, a research firm will hazard a guess, but these are rough estimates at best. Although we cannot be sure of the absolute level of loans originated online, we can be certain of one thing — that the web represents the fastest growing retail mortgage lending channel today. This article is designed to help debunk some online lending myths we commonly read or hear about. Our hope is that these insights will improve decision making by organizations evaluating opportunities associated with serving borrowers online. More... Listen to the podcast or right-click here and select "Save Target As..." to download the podcast to the destination of your choice. |
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Protecting Consumer Information By John Cullen (From Mortgagebot Newsletter - September, 2006) Security and cyber crime are big news when it comes to the internet. Every day we read about security breaches and data theft. More... |
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Fiserv Lending Solutions and Mortgagebot® Direct Credit Interface (Press Release) With this interface, clients using MortgageBot PowerSite™ Pro will be able to pull credit reports from Fiserv’s WebStar platform directly into its system. PowerSite Pro is a web-based point-of-sale system for professional loan officers. More... |
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Digital Insight and Mortgagebot announce preferred partner referral relationship (Press Release) Under terms of the agreement, Mortgagebot will recommend Digital Insight’s consumer Lender Solutions to its more than 650 clients, and Digital Insight will recommend Mortgagebot’s Internet-based mortgage loan origination solutions to its more than 1,750 clients. The relationship expands the distribution reach for lending solutions offered by both companies. More... |
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Mortgagebot Earns 225th Position on the Inc. 500 List (Press Release) Mortgagebot LLC was named to the Inc. 500 list of the country’s fastest growing private companies in 2006. This ranking is a first for our eight-year-old company. More... |
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