Mortgagebot launches Version 2.0 of Mortgage Marvel

Mortgagebot launches Version 2.0 of Mortgage Marvel

May 28, 2009

Mortgagebot has unveiled Version 2.0 of Mortgage Marvel, its revolutionary online mortgage-shopping service. The new Mortgage Marvel now includes a groundbreaking credit-score feature that enables all mortgage shoppers—regardless of their credit score—to get instant, accurate, personalized, and anonymous mortgage quotes via the Internet.
With the launch of Version 2.0, Mortgage Marvel’s consumer benefits continue to distinguish it from other online mortgage shopping services. And at a time when consumers are demanding a faster and more efficient online experience, Mortgage Marvel really flexes its muscle with one clear point of differentiation: Quotes are delivered in real-time, using live lender data.
Live, real-time quotes set Mortgage Marvel apart
“A key factor that makes Mortgage Marvel so different from other mortgage-shopping services is that every quote is created in real time, directly from the ‘live’ product databases of participating lenders,” said Scott Happ, president and CEO of Mortgagebot LLC, the company that owns and operates Mortgage Marvel. “All quotes are built using live loan-product data; so consumers can have the confidence that they will never get ‘bait-and-switch’ quotes or ‘teaser’ rates with Mortgage Marvel.” enables borrowers to get instant and accurate mortgage rate-and-fee quotes from a nationwide network of banks and credit unions. All borrowers need to do is enter four pieces of data: loan amount, property value, property ZIP code, and credit score. No personal information is ever required. In just seconds, Mortgage Marvel displays a selection of free, accurate, up-to-date mortgage rate-and-fee quotes from multiple lenders in an easy-to-understand table.
Credit-score feature ensures accurate quotes for every borrower
Mortgage Marvel was initially launched in late 2007 with unique technology that set a new standard for online mortgage shopping. But as Mortgagebot monitored the emergence of a more challenging home-shopping marketplace, Happ and his team decided to upgrade Mortgage Marvel to include an option that enables borrowers to enter their credit score. This means that all borrowers can have confidence that the mortgage quotes they receive through Mortgage Marvel will be available when they decide to contact the lender to apply for a loan.
“In today’s Internet-enabled society, mortgage shopping shouldn’t be a hassle,” said Happ. “And while we’re pleased with the growing acceptance of Mortgage Marvel among both mortgage lenders and consumers, we know that a consumer’s credit score can directly influence the cost of borrowing.”
If a borrower doesn’t know his or her credit score, Mortgage Marvel provides several options to determine it. Borrowers can answer six questions to receive an estimated credit score, or they can visit a third-party Web site that provides credit scores from the three leading credit bureaus.
“With Mortgage Marvel, the process of finding, selecting and applying for a mortgage is easier, faster, more efficient, and—frankly speaking—a lot less intimidating,” said Happ. “The new credit-score feature enables Mortgage Marvel 2.0 to deliver the most complete and satisfying online mortgage-shopping experience available.”
In today’s world, 70 percent of consumers turn to the Internet first when shopping for a mortgage. Mortgagebot makes that process quick, easy, and simple by providing free access to Mortgage Marvel technology in a variety of ways—including the Mortgage Marvel Web site, an iGoogle gadget, a Yahoo! widget, or even a popular iPhone app. Mortgage Marvel rate quotes are also accessible through a wide range of home-shopping and real-estate Web sites.
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Originations, Residential, Marketing, Technology