""Bank of Colorado"":http://www.bankofcolorado.com/ recently reported an estimated 25 percent uptick in loan production during the past 24-months, and the company's technology provider, ""Mortgagebot"":https://www.mortgagebot.com/, is taking partial credit for the significant increase.[IMAGE]
Citing the bank's use of Mortgagebot's PowerSite platform, the tech company says that its integrated point-of-sale solution helped the financial institution[COLUMN_BREAK]
capitalize on current market conditions.
In an official statement, Mortgagebot noted that the departure of several larger lenders in Bank of Colorado's geographical region created opportunities to increase market share. Mortgagebot went on to explain that the bank's strategic position during the industry's contraction was maximized by the company's use of its intuitive, automated processing system.
Matt Cotter, Mortgagebot's senior vice president of sales and marketing, says his company is pleased with the bank's success.
""We are committed to providing innovative technology that gives clients a competitive edge. PowerSite certainly accomplishes this goal for Bank of Colorado, allowing it to immediately respond to market changes and opportunities,"" said Cotter.
Rodney Sanger, vice president of the bank, added, ""Our loan officers are fully utilizing PowerSite to increase volume. Its capability to adjust questions fitted to a borrower based on the applicant's previous answers; deliver a suitable loan product to the borrower; and run the loan through underwriting approval has produced significant, positive changes to our operations.""