ABA Subsidiary and Mortgagebot Agree to Extend Alliance Agreement

WASHINGTON - Business Solutions, an ABA subsidiary, and Mortgagebot, a D+H company, have agreed to extend their alliance to provide ABA member banks with Web-based mortgage application solutions at preferred terms. Mortgagebot has been a valued component of the Business Solutions/Freddie Mac alliance relationship for years and is part of the suite of Mortgage Solutions alliances available to ABA members.

Mortgagebot is one of the nation's top providers of online mortgage solutions, delivering innovative, flexible, and scalable SaaS "cloud computing" technology to automate more than 1,100 financial institutions' origination businesses. Mortgagebot helps banks deliver a superior borrower experience for their customers while boosting productivity, reducing origination costs, maintaining regulatory compliance, and improving efficiency.

"Since our inception in 1997, Mortgagebot has remained focused on delivering industry-leading, web-based mortgage origination solutions to financial institutions of all sizes," said Scott T. Happ, president of Mortgagebot. "In a time of continuous change in the industry and competitive landscape, ABA member banks continue to recognize the importance of leveraging technology and automation to deliver on their core lending goals of customer service, compliance, and profitability.  Their success has been astonishing."

"Our members appreciate the easy-to-implement, customized solutions provided by Mortgagebot," said Bill Kroll, president of Business Solutions.  "Mortgagebot offers a unique product and one that is flexible and can be deployed in a variety of ways by our member banks."

Business Solutions currently has 9 strategic alliances with top companies that bring ABA banks advantages in pricing, delivery options, technology, and support. These companies operate in the areas of secondary marketing, mortgage insurance, and technology - including fraud detection and prevention, appraisal management, outsourcing, and online lending technology.

About Business Solutions
Business Solutions, a subsidiary of the American Bankers Association, helps community bankers with the business of banking by providing them access to products and services on better terms than they could get on their own. By leveraging the collective power of ABA members, we offer significant savings through competitive mortgage lending, payments, capital markets and commercial banking solutions. Learn more at aba.com/BusinessSolutions.