SOURCE: Mortgagebot


December 12, 2011 11:50 ET

New and Improved Protects Consumer Privacy While Better Delivering Accurate, Real-Time Mortgage Rates and Closing Costs

Major Enhancements Make It Easier to Find and Compare Rates and Apply for Real Mortgage Offers From Hundreds of High-Quality Lending Institutions While Maintaining Consumer Anonymity

MEQUON, WI--(Marketwire - Dec 12, 2011) - Mortgage Marvel (, which safeguards privacy as consumers shop for mortgage rates and fees, announced today that it has overhauled its website to provide enhanced tools for finding and comparing real-time, accurate and personalized rates and closing costs.

With unsurpassed accuracy, the site promises that the rates and fees offered will match the rates and fees presented on any participating lender's website as long as consumers enter correct information for all of the criteria on the site's Advanced Quote feature. The site even helps consumers estimate their credit rating if they don't know it.

Privacy is completely protected on Mortgage Marvel so consumers don't need to share their contact information and risk being deluged with emails and phone calls from lending institutions. They remain anonymous as they search for the lender, product and price that meet their unique needs.

"We're the only web-based mortgage-shopping site that provides real-time information about interest rates and the complete, detailed closing costs consumers will pay. Mortgage Marvel can do this because it is directly integrated with the participating lender's product and pricing database," said Rick Allen, Mortgage Marvel's COO. "With the improvements we've made, consumers will not find a better, more complete, easier-to-use site than ours."

When they're ready to apply, consumers can then select a lender; complete a simple, secure online mortgage application; and be approved for a loan in less than 20 minutes.

Enhanced features include:

  • Filters for narrowing available loans based on interest rate, APR, closing fees, monthly payment, lender location, and first-time homebuyer eligibility.
  • Compare feature that conveniently organizes and displays all applicable details in a side-by-side view for up to four loans.
  • Easy-to-access table that shows accurate closing fees, details about monthly payments over the life of the loan, and added details about adjustable rate mortgages if applicable. The entire set of closing fees are broken out line by line to provide discount points, origination fees, appraisals, credit reports, flood certifications, title services, title insurance, and government recording charges.
  • Signup feature that sends an email to consumers who ask to be notified about changes in rates.

Mortgage Marvel also offers the best available information on the Web about national and regional rate trends. The trends are derived from information drawn daily from more than 1,000 national, regional, and local banks and credit unions across the country. The data is compiled directly from the lender's product and pricing database. Unlike other trends which include discount points, all underlying rates have zero points. This provides a true indication of the cost and provides an apps-to-apples comparison.

Other tools available on Mortgage Marvel include a variety of calculators to help consumers evaluate the best type of mortgage for them, a section of frequently asked questions, a glossary of terms useful to mortgage shoppers, up-to-date mortgage news and recent columns from writers who cover mortgage markets.

Allen said the company plans to continue its focus as a repository of information for consumers so that Mortgage Marvel "is a one-stop-shop for consumers looking to buy a new home or refinance their existing home."

About Mortgage Marvel

Mortgage Marvel is an online mortgage-shopping website that delivers real-time quotes from multiple lenders -- in complete privacy. It is a service of Mortgagebot LLC, a wholly owned subsidiary of Davis + Henderson Corporation, that 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.

Contact Information

  • For further information:
    Tony Felice
    Ana Tackett

    Cindy Golisch