First Internet Bank leverages Mortgagebot to finalize 71% of its online apps
First Internet Bank is crediting Mortgagebot Enterprise, a platform from D+H, for helping the firm convert 71% of the applications started online into completed submissions from borrowers.
Due to this success rate, First Internet Bank says it was named online mortgage originator of the year in the 2013 Mortgage Technology Awards.
The award goes to firms that have successfully used technology to generate new leads, eventually converting them into closed home loans.
"Mortgagebot Enterprise plays an important role in our service delivery and has been instrumental in our success," said Kevin Quinn, senior vice president at First Internet Bank.
"It provides the online lending functionality that we need behind the scenes. We use it to submit loans to Desktop Underwriter®, run credit checks and to get instant credit decisions whether a loan officer is available or not."
With Mortgagebot in effect, loan officers at First Internet Bank are not required to re-draw the applicant’s information from scratch. Instead, the system brings them all of the information, allowing them to focus on the mortgage consulting process.