Mortgagebot, a provider of online loan application technology, announced Tuesday that it’s launched a new piece of its PowerSite platform focused on consumer loans.
The Mequon, Wisc., unit of the Davis + Henderson Corp. already manages the mortgage lending websites of more than 1,100 banks and credit unions through its PowerSite technology.
So far, Liberty Bank, a $3.4 billion-asset bank in Middletown, Conn. , and the National Institutes of Health Federal Credit Union, a $550 million institution in Rockville, Md., have already signed up for the service.
“It’s a very big deal, this is the No.1 and No.2 requested thing from our consumer base,” says Matt Cotter, Mortgagebot’s senior vice president of sales and marketing, in an interview. “We are really solving an unmet need out there.”
Last spring, Davis + Henderson acquired Mortgagebot for $231.8 million for its loan application technology.
