Online Mortgages Significant Driver of Lenders' 2012 Revenue Stream

Online Mortgages Significant Driver of Lenders' 2012 Revenue Stream 
CapWest Mortgage grows Loan Volume by $400 Million in 2012,
Anticipates 30 Percent Jump in Application Volume in 2013 
MEQUON, WI -- (Marketwire) -- 02/07/13 --   A review of more than
1,000 mortgage lending institutions using "smart" online lending
technology has revealed that the online channel critically enhances
banks' and credit unions' revenue growth. CapWest Mortgage, of
Overland Park, Kans., for instance, underwent improvements in
profitability, significantly expanding market share by growing loan
volume from $1 billion to $1.4 billion between 2011 and 2012. The
bank, a division of Farmers Bank & Trust, N.A., aggressively used
Mortgagebot's ( front-end point-of-sale
automation, EnterprisePOS, to take in loan applications and engage
customers throughout loan processing and underwriting. Collectively,
users of the Mortgagebot Enterprise(TM) end-to-end lending platform
took in more than 1 million applications in 2012, about a 50 percent
increase over the 660,000 applications of 2011. 
"We are finding that there is a solidified commitment to 'smart'
online technology deployment among lenders as they see a strong link
between the online channel and their continued viability and
profitability," said Matt Cotter, senior vice president of sales and
marketing at Mortgagebot, a D+H company. "In fact, Mortgagebot's
client numbers reached an all-time high in 2012 and our review also
found that many lenders' online volumes far eclipsed their
traditional avenues of application, such as in-branch or over-the
phone intake." 
Mortgagebot's parent company, D+H, a leading provider of secure and
reliable solutions to North American financial institutions, offers
products and services that allow its customers to focus on serving
their customers. Through Mortgagebot, it continually strives to keep
lenders, such as CapWest Mortgage, on the cutting edge of online
technology so they can improve return on investment and meaningfully
impact their bottom lines. "We believe our clients are best
positioned to capture and convert more business through application
and loan-processing optimization," Cotter said. "Taking applications
online has become both a necessity and a new industry standard;
lenders taking to the online channel are making the right moves
toward improved profitability and ultimately investing in their
financial health." 
Online Capability Is Game-Changer in Mortgage Industry 
Industry fluctuations make online-application capability a necessity
for long-term lending success. Built-in optimization of
online-application capability has changed the face of mortgage
lending because of its success in adjusting to external factors --
for example, threat of the fiscal cliff and fluctuating interest
rates. The channel, by far the lowest cost channel for loan-volume
growth, can give lenders cost-efficient scalability through the right
"D+H's long experience, coupled with Mortgagebot's expertise, has
given us a deep understanding of the role technology plays in today's
financial services marketplace, allowing us to provide financial
institutions, such as CapWest Mortgage, with the technological
flexibility to adapt to a changing market," said Cotter. 
CapWest Mortgage used Mortgagebot's per-loan pricing scheme to take
in more than 14,000 online loan applications in 2012 and projects
volume will jump to 18,000 in 2013, provided interest rates remain
similar to 2012 levels. The bank's use of the platform's automation,
which eliminates redundancy and helps it maintain full regulatory
compliance, also enabled loan originators to more quickly render a
loan decision, further reinforcing profitability. Its loan officers
closed on average 24 loans per month, reaping time savings of nearly
5,000 hours. 
Customer Preference and "Smart" Technology Create Self-Growing
With the exploding global mobile trend of smartphones and tablets,
consumers are increasingly conducting business online, including
mortgage-shopping. In fact, smartphone subscriptions are projected to
reach 3.3 billion worldwide by 2018, with 58 percent of current
subscribers already using their personal subscriptions in their
workplace, according to Ericsson Consumer Lab. Pervasive access to
the online channel will only reinforce its significance to mortgage
lending. Consumers' gravitation to the channel, combined with the
user-friendly framework of "smart" online lending technology, sets up
a self-feeding cycle, in which lenders can grow online loan volume
while more and more consumers submit online applications for the
technology's ease-of-use.  
CapWest Mortgage found that in 2012 about 12 percent of its
application leads came through on weekends. Online-application
capability meets client preference because it sets up 24/7
visibility, allowing consumers to research mortgage rates and
information or apply at any time or day. The intuitive framework of
"smart" technology also makes navigation of the application process a
straightforward process and attracts quality borrowers. In fact, 89
percent of CapWest Mortgage clients who begin the application
complete it the same day, with 98 percent submitting the application
within seven days. Moreover, in 2012, the bank approved 38 percent of
its online applications and, by early 2013, increased the approval
rate to 45 percent, a result of Mortgagebot's identification and
removal of outdated underwriting requirements from the bank's system.
Additional applications are approved once loan officers review them
for human errors, such as typographical mistakes on assets. 
Functionality-Rich Online-Application Capability Attracts Consumers 
Consumers not only expect to be able to apply online, but they also
demand ease-of-use to extend throughout all aspects of loan
processing. For lenders to enhance their profitability, they must
seek out superior quality and functionality of "smart" online
technology, which ultimately determines the degree of customers'
ease-of-use. The Mortgagebot Enterprise(TM) platform has staying
power because Mortgagebot delivers on customer expectations by
consistently adding online functionality. For instance, the company
recently tightened the user experience and conversion path to
increase customer satisfaction with the application and origination
process, ultimately enabling lenders to reap higher conversion rates. 
Monte Robbins, president and CEO of CapWest Mortgage, says the
platform provides on-demand answers, including real-time pricing,
which is precisely the self-serve environment that clients want. "The
return on our investment is great," he says. "We have experienced
tremendous time savings to our employees and clients and we
definitely see the platform as an affordable alternative to any other
available system because it provides us with the precise leverage to
increase our earnings."  
About D+H 
D+H is a leading provider of secure and reliable technology solutions
to North American financial institutions. With a long history as a
trusted partner to banks, credit unions and other financial services
providers, D+H's solutions allow our customers to focus on serving
their customers. D+H offers a wide spectrum of technologies and
services that are designed to help financial institutions stay
competitive by supporting specific areas of their business as well as
overall operations. D+H's diverse and growing portfolio includes
everything from lending technologies, to loan administration
services, to payment solutions including cheque and value-added
membership marketing programs. In 2012, D+H rose to 35th on the
FinTech 100, a ranking of the top technology providers to the global
financial services industry. 
For more information about D+H, visit 
About Mortgagebot 
Mortgagebot (, a D+H company, provides mortgage
and consumer lending technology to nearly 1,300 clients nationwide.
Mortgagebot delivers the award-winning, end-to-end platform --
Mortgagebot Enterprise(TM) -- as a scalable, web-based solution for
lenders to maximize their lending potential and streamline all
origination processes. With Mortgagebot EnterprisePOS(TM), lenders
can automate every point-of-sale channel where business is captured:
consumer-direct, branch, and loan officer, and integrate directly
into the all-in-one Mortgagebot EnterpriseLOS(TM) -- for processing,
closing, imaging, and secondary marketing -- or to third-party loan
origination systems.  
Mortgagebot also offers Mortgage Marvel (, the
award-winning mortgage-shopping service that delivers accurate,
anonymous, real-time rate quotes in seconds from a selection of
hundreds of lenders. Mortgage Marvel uniquely enables borrowers to
link directly to their preferred lender -- where they can complete a
mortgage application and get pre-approved with fully compliant
disclosures, all in about 20 minutes. 
Mortgagebot and Mortgage Marvel are registered trademarks and
Mortgagebot Enterprise, Mortgagebot EnterprisePOS and Mortgagebot
EnterpriseLOS are trademarks of Mortgagebot LLC, a wholly owned
subsidiary of Davis + Henderson Corporation. Other products and/or
services are the property of their respective owners. 
Copyright 2013 Mortgagebot LLC. All rights reserved. 
To learn more about Mortgagebot, call: 
Cindy Golisch
PR Unlimited 
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