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CUNA forms alliance with Freddie Mac

National Mortgage Professional
Jun 29, 2008

Mortgagebot announces alliance partnership with Harland Financial SolutionsMortgagePress.comInternet, PowerSite, Web-based loan origination system Recent market research indicates that more than 70 percent of all consumers who search for low mortgage rates begin their quest on the Internet. And despite current market challenges, the Internet channel is growing—in some market segments, as many as one-fourth of all lenders now originate more than half of their loan volume online. In response to this market trend, Mortgagebot LLC is pleased to announce a preferred referral partnership with Harland Financial Solutions Inc. Under the terms of the agreement, Harland Financial Solutions will recommend Mortgagebot PowerSite, a Web-based loan origination system, to its clients and prospects as a preferred solution. Mortgagebot PowerSite is a solution for consumer-direct, Internet-based loan origination, currently automating the mortgage-application process for nearly 800 lenders nationwide. The PowerSite product serves as a lender's mortgage Web site, taking applications directly from consumers 24 hours a day, seven days a week, 365 days a year; and enabling branch, call center and other non-mortgage staff to take mortgage applications with minimal training. PowerSite's interactive functionality enables borrowers to complete an application and get pre-approved with full disclosures in 20 minutes or less. And because PowerSite is deployed over the Internet, there is no PC software for lenders to install or maintain. "To compete successfully in the Internet age, our clients are extending their mortgage businesses onto the Web. This alliance enables us to readily offer one of the most advanced mortgage-application technologies and further support our clients' efforts to enhance the loan origination process by taking advantage of the online mortgage channel," said J.R. Clemons, president of risk management and compliance solutions for Harland Financial Solutions. This partnership also enables PowerSite users to implement automated integration software that enables the application data collected by PowerSite to be automatically transferred to Harland Financial Solutions' mortgage solution and loan documentation products, including Interlinq E3, Interlinq MortgageWare and LaserPro Residential Real Estate Mortgage. For more information, visit or
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