Fiserv Expands LOS Integration with Mortgagebot
Wisconsin-based Mortgagebot LLC, which provides a point-of-sale software solution targeting loan officers, said Tuesday afternoon that Fiserv, Inc. had integrated the POS platform with its two primary loan origination software platforms. Fiserv offers both the easyLENDER and UniFi LOS platforms, and the integration with Mortgagebot comes as more than 150 financial institutions have implemented a dual Fiserv LOS/Mortgagebot POS origination technology model. Both companies said that the integration will accelerate the approval and processing of mortgage applications, eliminate redundant data entry, and virtually do away with the delays typically associated with batch processing. Mortgagebot's PowerSite us a custom-configured, private-labeled solution that serves as a lender's consumer-direct, interactive mortgage Web site; the integration means that Fiserv will offer Mortgage bot to its LOS customers directly. "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 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. Cumming is referring to a historic upheaval in the origination space, one that has seen scores of lenders fail; those that are surviving, HW's sources say, are those that can quickly and efficiently streamline operations to maintain profitability as origination volumes drop. For more information, visit http://www.fiserv.com and http://www.mortgagebot.com.