MEQUON, Wis. — Current and prospective clients of Open Solutions Inc. (www.opensolutions.com) will now be offered the consumer-direct, Web-based loan origination system from Mortgagebot (www.mortgagebot.com), the companies said.
The Wisconsin company's solution said its consumer-direct system already is in place at more than 750 lenders, including nearly half of the country's 100 largest credit unions and savings institutions and one third of the 100 largest commercial banks.
Nearly 50 Open Solutions clients already run the Mortgagebot PowerSite online lending Web site, the Connecticut-based core processor said.
Mortgagebot also provides a solution that allows loan officers to take applications by phone, in the branch or by laptop from a remote application. Both solutions allow applicants to get pre-approved and receive full disclosures in 20 minutes or less, the company said.
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