SOURCE: Mortgagebot

May 13, 2008 10:00 ET

Fiserv Expands the Integration of Its Loan Origination Software Systems With Mortgagebot

PowerSite Pro, Mortgagebot's Point-of-Sale Tool for Loan Officers, Streamlines the Mortgage-Application Process for Clients of Fiserv LOS Solutions

MEQUON, WI and BROOKFIELD, WI--(Marketwire - May 13, 2008) - Mortgagebot® LLC, the Mequon, Wis.-based leading provider of consumer-direct loan-application technology solutions to mortgage lenders, today announced that Brookfield, Wis.-based Fiserv, Inc. (NASDAQ: FISV), a leading provider of information technology services to the financial industry, has integrated its easyLENDER® and UniFi® PRO loan origination software (LOS) solutions with Mortgagebot PowerSite® Pro, a point-of-sale software solution designed to help professional loan officers take mortgage applications with enhanced speed and efficiency. This integration accelerates the approval and processing of mortgage applications, eliminates redundant data entry, and virtually does away with the delays that are associated with batch processing.

Currently, more than 150 financial institutions use a Fiserv loan origination solution in conjunction with Mortgagebot PowerSite -- a custom-configured, private-labeled solution that serves as a lender's consumer-direct, interactive mortgage Web site. Fiserv recognizes that professional loan officers need the most powerful and flexible loan application tools, so Mortgagebot PowerSite Pro is now available to Fiserv easyLENDER and UniFi PRO clients.

Together, Fiserv and Mortgagebot have also developed advanced data-integration options, which enable lenders to directly transfer borrower information and application data captured by PowerSite Pro into easyLENDER or UniFi PRO in real time, without the need to re-key data.

"Now is the time" for mortgage lenders to implement advanced technology

"Deploying our PowerSite product suite enables lenders to benefit from an enterprise-wide point-of-sale solution that borrowers, call center staff, branch personnel, and loan officers can all use to generate error-free mortgage applications," said Dan Welbaum, chief marketing officer of Mortgagebot. "We're pleased to expand our relationship with Fiserv, and we have closely collaborated to enable our joint clients to improve efficiency, boost productivity, improve customer service, and reduce costs."

"We've expanded our alliance with Mortgagebot because we are committed to delivering added value to our loan origination software clients. We believe that now is the time for mortgage lenders to implement technology that can make them more efficient and responsive to borrower needs," said Tom Cummings, senior vice president of the Fiserv Financial Services Group.

UniFi PRO and easyLENDER are scalable, full-featured software solutions that automate the entire lending process. Both solutions use document management, automated work queues, and data verification to help lenders make more intelligent decisions and improve efficiency during traditional and electronic mortgage origination, processing, and closing.

Mortgagebot PowerSite Pro is a custom-configured, private-labeled, Web-based tool set that enables professional loan officers to quickly complete mortgage applications. PowerSite Pro asks intelligent questions so loan officers can quickly and easily take borrowers through the entire mortgage application process wherever the loan officer has Internet access -- in the branch, over the phone, or at a remote location -- in 30 minutes or less.

About Fiserv, Inc.

Fiserv, Inc. (NASDAQ: FISV), a Fortune 500 company, provides information management and electronic commerce systems and services to the financial and insurance industries. Leading services include transaction processing, outsourcing, electronic bill payment and presentment, investment management solutions, business process outsourcing (BPO), and software and systems solutions. Headquartered in Brookfield, Wis., the company is the leading provider of core-processing solutions for U.S. banks, credit unions, and thrifts. Fiserv was ranked the largest provider of information-technology services to the financial-services industry worldwide in the 2004, 2005, and 2006 FinTech 100 surveys. In 2007, the company completed the acquisition of CheckFree, a leading provider of electronic-commerce services. Fiserv reported nearly $4 billion in total revenue from continuing operations for 2007. For more information, please visit www.fiserv.com.

About Mortgagebot LLC

Mortgagebot LLC (www.Mortgagebot.com) is the industry-leading, Inc. 500 company that provides PowerSite, the direct-to-consumer, Web-based loan-origination solution set that can be deployed enterprise-wide. Mortgagebot blends extensive mortgage experience with leading-edge "software-as-a-service" (SaaS) technology to create robust, scaleable, and affordable Web sites for nearly 800 mortgage lenders nationwide. And with the launch of its mortgage-shopping Web site, Mortgage Marvel® (www.MortgageMarvel.com), Mortgagebot has created a revolutionary, easy-to-use way for borrowers to instantly obtain and compare accurate, low mortgage rates -- from hundreds of lenders -- without revealing any personal data.

Mortgagebot, Mortgagebot PowerSite, and Mortgage Marvel are registered trademarks of Mortgagebot LLC. Fiserv, easyLENDER, and UniFi are registered trademarks of Fiserv, Inc.

Contact Information

  • For Mortgagebot information, call:
    Cindy Golisch
    President
    PR Unlimited
    480-471-8820