Mortgagebot is an online mortgage-handling platform used by banks and credit unions. Mortgagebot is used by regulated banks and credit unions in the United States.
History.
In 1997, Mortgagebot was formed as the mortgage subsidiary of M&amp;I Bank. The bank's consumer-direct system for taking mortgage applications was originally developed to enable M&amp;I's mortgage business to take advantage of the growth of the Internet.
In 2001, Mortgagebot was spun off from M&amp;I Bank in a management-led buyout.
In April 2011, Davis + Henderson acquired Mortgagebot LLC for $231.8 million in cash.
In 2014, D+H Mortgagebot became D+H. At that time, Mortgagebot was used by 1,400 banks and credit unions throughout the United States, originating over US$150 billion in mortgage applications annually.
In 2017, D+H merged with Misys to become Finastra.
Direct: An online application, pricing, and approval program that personalizes the mortgage-application process based on borrower information and transaction type.
Advisor: A program that enables branch-based bank or credit-union associates to take accurate mortgage applications from borrowers.
Pro: A program designed to automate the mortgage-application process for professional loan officers.
Mobile: A program that enables mortgage lenders to deliver real-time mortgage-pricing information to consumers in an easy-to-understand format that is optimized for mobile devices.
References.
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