Lenders Quick to Embrace the Mortgagebot/Avista Point-of-Sale and Loan Origination System Platform Integration
Cindy Golisch, President, PR Unlimited
University First Federal Credit Union and Bank of Lake Mills among the first to adopt the Mortgagebot/Avista end-to-end platform, as direct integration is already available
Mequon, Wis. (July 13, 2012) — University First Federal Credit Union ($613 million-in-assets) of Salt Lake City, Utah, and Bank of Lake Mills ($178 million-in-assets) of Lake Mills, Wis.—are deploying the Mortgagebot front-end point-of-sale automation along with the Avista back-end loan origination system (LOS) capability to strategically inject the competitive advantages of best-of-breed web-based technology throughout their entire mortgage lending businesses. The companies, who share parent company D+H and serve more than 1,250 U.S. banks and credit unions, have completed initial integration of the two systems and now together support the entire mortgage process from origination to closing through a comprehensive suite of products to drive efficiency and lender convenience. Mortgagebot’s features include online loan application functionality and automated loan processing across multiple channels, including online, branch, call center, and professional loan officers. Avista’s 100 percent web-based, end-to-end mortgage LOS features include a built-in product and pricing engine and fully integrated, robust vendor service capabilities.
Matt Cotter, Mortgagebot’s senior vice president of sales and marketing, says the first phase of integration of the companies’ products is complete. “We are pleased to announce that we’ve made tremendous headway and are already operating with full loan-level integration,” he says. “The integration of our two companies’ products is a win-win situation for Mortgagebot, Avista, and our respective clients—including our newest clients, University First FCU and Bank of Lake Mills. Together, we will assist in improving their efficiency and profitability, and we look forward to collaborating with and serving other lenders in this capacity.”
Integration Boosts Lender Capabilities
Mortgagebot’s two new clients are choosing to take full advantage of the direct integration. University First FCU has elected to use Mortgagebot’s web-based Internet-direct solution to support online borrowers—the solution designed and rigorously maintained to enhance the user experience—and the branch/call center solution to equip branch and call center staff to take complete applications, along with Avista’s document imaging, storage and workflow solution. Joseph Boekweg, the credit union’s vice president of lending, says the use of these solutions will greatly enhance the credit union’s ability to best serve its members. “We are not only excited about fine-tuning our credit union’s workflow but also pleased about giving our members the best service across all channels, which is made possible through the efficient, integrated capabilities of advanced cloud-computing technology.”
Bank of Lake Mills has also chosen to deploy Mortgagebot’s Internet-direct solution and Avista’s LOS technology to enable “self-serve” borrowers to check interest rates and obtain pricing and fees, ultimately completing and submitting mortgage applications online without requiring loan officer assistance. Lindsay Duncombe, the bank’s Compliance Officer, says Bank of Lake Mills looks forward to taking advantage of the all-in-one option, which lets lenders manage the complete lending process, from origination to closing, with one integrated solution. “Using this end-to-end platform to support the mortgage process better positions our bank for the future and for accelerating growth, all at an affordable cost,” she says. “The system is easy to deploy, and we look forward to using it to further boost productivity and profitability.”
Mortgagebot (www.Mortgagebot.com), a D+H company, has led the industry since 1997 by providing the unique, award-winning PowerSite family of integrated point-of-sale solutions for taking mortgage applications in every mortgage business channel: consumer-direct via the Internet, in the branch or call center; or through professional loan officers.
Mortgagebot blends deep mortgage experience with innovative “cloud computing” technology to create scalable and affordable websites for more than 1,100 banks and credit unions nationwide. Lenders large and small view PowerSite as a “must-have” solution because it helps them deliver a superior borrower experience, increase volume, and compete more effectively. PowerSite is also flexible and easy to use, with a rapid and proven implementation process.
Mortgagebot also offers Mortgage Marvel (www.MortgageMarvel.com), the award-winning mortgage-shopping service that delivers accurate, anonymous, real-time rate quotes in seconds from a selection of hundreds of lenders. But Mortgage Marvel uniquely enables borrowers to link directly to their preferred lender—where they can complete a mortgage application and get pre-approved with fully compliant disclosures, all in about 20 minutes.