October 24, 2005 09:00 ET

MindBox Delivers Automated Framework for Loan Decisioning Platform

Vendor Ships Comprehensive Suite of Automation Components for Deploying Web-Based Loan Origination Portals for Mortgage Brokers and Loan Officers

GREENBRAE, CA -- (MARKET WIRE) -- October 24, 2005 -- MindBox, LLC, a leading provider of rules-based software products for automating loan origination decisions, deal structuring, and underwriting, announced today the launch of the MindBox Loan Decisioning Platform, a complete framework of automated templates and components for deploying web-based loan origination portals for mortgage brokers and loan officers. It allows mortgage lenders to quickly implement a portal where brokers or loan officers can submit loan applications online and get instant loan underwriting, product selection, deal structuring and pricing decisions.

"The wholesale mortgage lending distribution channel in the United States is second in size to the retail channel, and it is also highly automated and exceeds retail lending for loan volume transacted online," said Craig Focardi, Research Director at TowerGroup, a leading advisory research and consulting firm. Competition is fierce among lenders to service this lucrative brokerage community with full-featured, web-based portals that are available around the clock, 365 days a year, hence the demand for MindBox's Loan Decisioning Platform.

The MindBox Loan Decisioning Platform is based on MindBox's proven ARTEnterprise Product Family, which automates every decision step in the mortgage lending process using rules- and case-based decisioning technology. The Loan Decisioning Platform provides an interface to these state of the art decisioning products. It not only helps to manage the flow of decisioning throughout the loan origination process, but also allows the lender to adapt the interface to their own look and feel. MindBox technology powers loan underwriting software at some of the leading lenders in the country, including Countrywide Home Loans, Chase Subprime, Aegis Lending and Wells Fargo Bank.

Portal Customers

The new decisioning platform announced today has already been successfully deployed in pioneering broker portals at Aegis Mortgage Corporation, ACT Mortgage Capital and Ownit Mortgage Solutions:

--  Paul Financial used MindBox to build a product scenario and loan
    submission system for its brokers.  The system includes pricing, product
    selection, deal structuring and product guidelines. It is available via the
    web to an extended network of brokers.
--  Ownit Mortgage Solutions used MindBox to build its OneClick automated
    approval system and its Broker Management Portal. OneClick is an automated,
    paperless Broker Approval Process that allows brokers to obtain approval
    through Ownit's website in about 3-5 days.  Broker Management Portal
    provides all of Ownit's branches with the ability to remotely maintain
    their broker relationships.  In addition, it begins to automate the entire
    broker management/compliance function.
--  ACT Mortgage Capital used MindBox to build its ACTSys broker portal.
    ACTSys lets brokers get instant decisions on a wide variety of loan
    decisions including prequalification, pricing, quick quotes, rate locking,
    credit analysis, product eligibility and best-fit deal structuring.
"With MindBox, we have been able to create a broker portal that makes it easy and attractive for brokers to do business with us," said Nelson Haws, President and CEO of ACT Mortgage Capital. "We've gained more control over our loan eligibility and pricing guidelines, and realized greater volume and profits as a result."

About MindBox, LLC

MindBox® is a technology company focused on financial services organizations. MindBox provides software and consulting services that leverage company and industry best practices in order to automate common lending practices such as underwriting, pricing, product best fit, deal structuring, debt reparation and cross sell across multiple origination channels. The company's products and services have a proven track record of reducing cost and increasing revenue by automating knowledge-intensive business processes using sophisticated decisioning systems and award-winning rule and case-based reasoning software.

MindBox technology integrates internet interfaces and other client contact channels with back-end business operations into one streamlined, efficient system that provides individually-tailored, optimized customer interactions. More information can be found by visiting or by calling (877) 650-MIND (6463).

© 2005. All rights reserved. MindBox® is a registered trademark of MindBox, LLC. All other trademarks and company and product names are property of their respective owners.

Contact Information

  • Media Contacts:
    Paige Mazzoni
    MindBox, LLC
    (415) 785 3063
    Email Contact

    Marie Clark
    Rocket Science
    (415) 464-8110 x4
    Email Contact