Mortgage Marvel, a New Mortgage-Shopping Web Site, Takes the Pain out of Online Mortgage Shopping

MEQUON, Wis.--(BUSINESS WIRE)--Even in a fluctuating real-estate market, people are mortgage shopping. And according to a recent survey by Forrester Research1,
they’re increasingly using the Internet to
research and compare mortgage rates and fees. But online mortgage
shopping can be frustrating and even fearful. That’s
wherefore Mortgagebot ()
is introducing its Mortgage Wonder Web land site ().

If you’ve shopped for a mortgage lately, you
cognize the challenges: Going online is quick; but after that, it can
really bog down down. Web land sites can be confusing. You may be forced to uncover
personal information. You have got to page through silver silver screen after screen just
to acquire a simple charge per unit and fee quote. And then when you finally acquire a listing
of mortgage products, the rates and fees can be obsolete or inaccurate—which
could be perceived as “bait and switch.”

And then—how make you make up one's mind which loaner to
turn to? High-profile lenders (like Countrywide and Ditech) cover our
television silver screens with ads. Online loan portals (such as BankRate.com Oregon
Interest.com) bend up in every Internet search. And loan collectors
(like LowerMyBills.com Oregon Lending Tree) constantly clamor for our
attention.

Who necessitates all that fuss and confusion?

Enter Mortgage Marvel

Mortgage Wonder is the new, easy-to-use, ad-free mortgage-shopping Web
land site operated by Mortgagebot, the prima supplier of online
mortgage-application engineering for more than than 700 banks, thrifts, and
recognition labor unions across America. Due to its alone concern model,
Mortgagebot is ideally positioned to make the industry’s
fastest, simplest, and most accurate mortgage-shopping Web site.

“In the last 10 years, we’ve
created over 3600 mortgage Web land sites for more than than 700 banks, thrifts,
and recognition unions,” said George C. Scott Happ, the
President/CEO of Mortgagebot. “All those
land sites are based on our PowerSite technology, which supplies the easiest
consumer-direct mortgage-application process available. So perhaps
better than anyone else, we understand what borrowers confront when
researching and applying for a mortgage online.”

“The problem,”
Happ said, “is that consumers can’t
acquire easy, convenient, and anonymous entree to instant, accurate, and
fully disclosed mortgage charge per unit and fee comparings from a single Web site—unless
they’re willing to pass important clip
online, wade through confusing Web pages, and uncover tons of sensitive
personal data.”

No frustration, just fast and accurate mortgage quotes

“Mortgage Wonder characteristics no ads,”
said Happ. “Borrowers never have got got to page
through multiple screens, and they don’t
have to come in personal information. With lone three spots of
property-related data and only a single mouse-click, Mortgage Wonder
supplies borrowers with fast, accurate, real-time mortgage quotation marks from
trusted, local lenders.”

“Consumers always acquire accurate rates with
Mortgage Marvel,” Happ stated. “That’s
because Mortgage Wonder makes its charge per unit and fee comparings from the
existent loan-product databases of the 100s of trusted, local mortgage
loaners that usage our PowerSite system. And it’s
all done in ‘real time,’
so when you contact a loaner to set up for place financing, what you’ve
seen online is exactly what you get.”

“The result,”
Happ explained, “is that in less than 30
proceedings a borrower can acquire accurate rates and fees, compare a
choice of loan products, choice a lender, complete a loan
application, and acquire contiguous online approval.”

How Mortgage Wonder works

Simple. Accurate. Incognito. That’s
Mortgage Wonder in a nutshell.

Using Mortgage Wonder is a breeze. With three simple steps—and
just one mouse-click—you tin acquire true and
accurate rate, fee, and revelation comparings from reliable,
competitory loaners in your area.

First, log on to .
With no advertisements or distractions, you can acquire right down to business.

Second, come in three pieces of property-related data: loan amount,
place value, and place nothing code; and chink the “Compare
Rates Now” button. That’s
all you necessitate to bring forth a comparing tabular array of quotation marks for a 30-year,
fixed-rate loan. If you necessitate a different loan, you can choose the “Advanced
Quote” option to come in just a few more than spots
of loan-related information. Either way, it takes only seconds—and
it’s completely anonymous.

Third, compare your quotes. Mortgage Wonder plant similar to the
Orbitz or Travelocity airline-reservation Web sites. In just seconds,
Mortgage Wonder shows an easy-to-read and easy-to-sort table, which
exposes the loan merchandises from the Mortgage Wonder loaners in your country
that lucifer your specified criteria. Mortgage Wonder do it easy to
compare involvement rates, fees, APRs, shutting costs, and lenders.

That’s all there is to it.

When you’re ready to apply, just chink the “Apply”
button next to the loan of your choice. You’ll
nexus directly to the lender’s Web site,
where you can finish an full loan application in 20 proceedings or less. Within 30 proceedings of accessing Mortgage Marvel, you can be pre-approved
with a good-faith estimate.

Cognition is power—and Mortgage Wonder
authorises borrowers

Mortgagebot understands that most home-buyers don’t
travel through the procedure often adequate to acquire familiar with the inches and
outs of mortgage lending. And everyone cognizes that an informed consumer
can do a wiser decision.

So Mortgage Wonder characteristics a comprehensive Learning Center, which gives
consumers practical borrower’s tools, such as
as: mortgage-related calculators; expert commentary on mortgage-related
issues, trends, and legislation; advice about price reduction points, recognition
scores, qualifying for a loan, mortgage insurance, and shutting costs;
and more. There’s even a helpful FAQ section.

It’s already winning awards

Mortgage Wonder was recently introduced to the financial-services
community, and already it’s generating a
buzz. Mortgage-industry commentators are impressed; and Mortgage Wonder
was even named “Best inch Show”
astatine the Finovate 2007 Conference in early October (). MortgageMarvel.com also rans into the Better Business Bureau’s
BBBOnLine Dependability Program engagement and rank
standards.

“Mortgagebot got it right,”
said Jesse James D. Jones, president of First Wellesley Consulting Group
(Wellesley Hills, Mass.). “Consumers desire
dependable information, accurate mortgage charge per unit comparisons, loaner choice,
and personal control when shopping for mortgages online; and Mortgage
Wonder gives [them]
what they want.”

About Mortgagebot

Mortgage Wonder is a merchandise of Mortgagebot LLC (),
the Inc. Five Hundred company that Pbs the mortgage industry in providing
direct-to-consumer, Internet-based loan-origination solutions. Mortgagebot compounds extended mortgage experience with leading-edge “software-as-a-service”
(SaaS) engineering to make robust, scaleable, and low-cost mortgage
Web land sites for more than than 700 loaners nationwide. The award-winning
PowerSite merchandise household is a fully configurable and completely
private-labeled solution set that enables loaners to take mortgage
applications over the Internet, through the branch, or from a loan
officer’s laptop.

To see a little picture presentation about Mortgage Marvel, visit .

1 “Online Mortgage
Shoppers’ Paths to Purchase”,
by Brad Strothkamp. Published by Forrester Research, Inc. (Cambridge,
Mass.); June 7, 2006. © 2006 by Forrester
Research, Inc.

Mortgagebot, Mortgage Marvel, and PowerSite are registered hallmarks of
Mortgagebot LLC. Other merchandises and/or services are the place of
their several owners.