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MEQUON, Wis. — All indicators show the mortgage market is continuing to soften, but don’t tell that to Scott Happ. While home sales nationwide have declined, the CEO of Mortgagebot expects sales in 2006 to rise about 30% to reach $22 million in revenue.

In August alone, the application service provider for the online mortgage lending industry reported an average three-year sales increase of 560%. The online lending solution allows a member to start up their application process online, makes an approval, includes a regulatory-required disclosure and locks in an interest rate. A member can also opt to apply for a loan online and then call their credit union and ask a loan officer to pull up their application and finish it on the phone. Or they can go to a CU branch and complete it face-to-face.

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