Magazine article Mortgage Banking

Mortgagebot Gains New Clients

Magazine article Mortgage Banking

Mortgagebot Gains New Clients

Article excerpt

University First Federal Credit Union (University First FCU), Salt Lake City ($613 million in assets) and Bank of Lake Mills, Lake Mills, Wisconsin ($178 million in assets) are among the first to deploy Mequon, Wisconsin--based Mortgagebot's front-end point-of-sale automation along with Charleston, South Carolina--based Avista Solutions' 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.

Mortgagebot and Avista, which share parent company Davis + Henderson Corporation (D+H), Toronto, and serve more than 1,250 U.S. banks and credit unions, have completed initial integration of the two systems and 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.

The first phase of integration of the companies' products is complete, according to Matt Cotter, Mortgagebot's senior vice president of sales and marketing. "We are pleased to announce that we've made tremendous head-way and are already operating with full loan-level integration," he said. "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. …

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