In Utah and Wisconsin, Mortgagebot and Avista have added two new clients for the companies' technology platforms. Mortgagebot and Avista, both of which share parent company ""D+H"":http://dhltd.com/, will welcome ""University First Federal Credit Union"":https://www.ucreditu.com/ and ""Bank of Lake Mills"":www.bankoflakemills.com/, to their roster of customers.[IMAGE]
In addition to Mortgagebot's automated front-end point-of-sale program, the credit union and the bank will also deploy Avista's back-end loan origination system (LOS). By selecting the technology offerings, both financial institutions hope to gain a competitive advantage through the enhanced efficiency and conveniences provided by the platforms.
Matt Cotter, Mortgagebot's senior vice president of sales and marketing, says the first phase of integration of the companies' products is complete, noting, ""We are pleased to announce that[COLUMN_BREAK]
we've made tremendous headway and are already operating with full loan-level integration.
""The integration of our two companies' products is a win-win situation for Mortgagebot, Avista, and our respective clients-including our newest clients, University First FCU and Bank of Lake Mills. Together, we will assist in improving their efficiency and profitability, and we look forward to collaborating with and serving other lenders in this capacity,"" added Cotter.
Based in Salt Lake City, Utah, University First FCU will use Mortgagebot's web-based Internet-direct solution to facilitate online support for borrowers. The credit union has also elected to utilize Mortgagebot's capabilities to equip its branch and call center staff to take complete applications.
Bank of Lake Mills, located in Mequon, Wisconsin, will join University First FCU in using Mortgagebot's Internet-direct platform. Additionally, the bank will count on Avista's LOS technology to create a ""self-serve"" environment for borrowers seeking to check interest rates, pricing, and fees prior to initiating a mortgage loan.
""Using this end-to-end platform to support the mortgage process better positions our bank for the future and for accelerating growth, all at an affordable cost,"" said Lindsay Duncombe, the bank's compliance officer. ""The system is easy to deploy, and we look forward to using it to further boost productivity and profitability.""