SALT LAKE CITY OnePipeline, a software vendor for the real estate and mortgage finance industries, announced Monday that it has formed a partnership with Bell Mortgage of Minneapolis.
The mortgage bank will offer OnePipelines online loan origination automated compliance system, for a 60-day trial period, to 50 real estate agents that refer it loans. The system helps real estate offices comply with all local, state, and federal laws, including the Real Estate Settlement Procedures Act.
When combined with Bells own proprietary origination technology, OnePipelines system will enable Bells clients to take loan applications directly from borrowers, handle some documentation for the loans, counsel borrowers on which loan to choose, and, for the first time, be compensated for their services.
In addition, Bell Mortgage and OnePipeline will jointly market their technology partnership to additional real estate agents after the trial phase if Bell is satisfied with the trial results. The trial will begin Nov. 1.
Bell Mortgage president Gary Kirt said the move will strengthen the relationship Bell has with its real estate business partners by offering them a service popular with homebuyers.
Research shows that consumers want one-stop shopping for their home buying needs and that they prefer the real estate professional as their first point of contact, Mr. Kirt said. This strategic alliance is a natural fit as it provides buyers exactly what they want.