New Mortgage Marvel API
Enables Easy-to-Use MortgageShopping Functionality to Be
Incorporated into Web Sites
Any Web site can now offer users direct access to the
Internet’s fastest, most convenient, and reliable mortgageshopping experience; contracts already signed with content
providers BeatYouThere, OptHome, Tinbu, and ZIPVO
FOR IMMEDIATE RELEASE:
April 27, 2008
For more information, contact:
Cindy Golisch, PR Unlimited
480-471-8820
Dan Welbaum, Chief Marketing Officer
262-292-2707
Mortgagebot LLC
1000 W. Donges Bay Rd., Ste. 200
Mequon, WI 53092
Toll-Free: 877-861-3354
Mequon, Wis. (April 27, 2008) — Today’s subprime mortgage situation has resulted in an overall cooling of the
mortgage market, but people are still applying for mortgage loans at a near-record pace—and they’re still
shopping for low mortgage rates on the Internet. In fact, a prominent national research firm reports that 70 percent
of all borrowers search for mortgages online.1
That’s why Mortgagebot LLC (www.Mortgagebot.com) is pleased to introduce the Mortgage Marvel API
(application programming interface), which enables the consumer-friendly, fully accurate mortgage-comparison
functionality of the award-winning Mortgage Marvel Web site (www.MortgageMarvel.com) to be easily
integrated into other Web sites, including portals, indexes, directories, and metasearch sites.
“More than ever before, people are using the Internet to find low mortgage rates and fees,” said Dan Welbaum,
Mortgagebot’s Chief Marketing Officer; “and Mortgage Marvel is simply the fastest, easiest, and most reliable
way for borrowers to compare accurate mortgage quotes—without having to disclose any personal information.
So we’re asking Web-site managers and content developers across America: ‘Wouldn’t it be great if those
borrowers could start their searches on your Web site?’ It’s possible with the Mortgage Marvel API.”
Now Web sites can integrate the Mortgage Marvel API functionality to instantly present borrowers with real-time
rates, fees, and closing costs from a wide selection of trusted, local lenders—thus revolutionizing one of the
Internet’s most frustrating and confusing shopping experiences.
Because Mortgage Marvel functionality is so friendly and easy to use, it can help increase site traffic and ad
revenue. With the Mortgage Marvel API, site managers can offer an easy-to-use mortgage-shopping tool that
brings users to their site—and keeps them coming back. And users will stay on the site longer as they review
mortgage rates, fees, and closing costs—which means greater exposure to other site content.
What makes Mortgage Marvel technology so different?
Ease of use. The Mortgage Marvel process is so friendly and intuitive, it’s been called the “Orbitz®” of online
mortgage shopping. No other solution enables borrowers to instantly obtain a wide selection of detailed and
accurate mortgage rates and fees—without entering personal data.
The borrower is in control. Unlike many other mortgage-shopping technologies, the Mortgage Marvel API
enables complete borrower control of the mortgage-shopping process. While all Web-site administrators are
responsible for custom-configuring their own user interfaces, it’s the borrower who drives the entire process of
comparing mortgage quotes—whether it’s entering search data, sorting the comparison table, modifying the
search, selecting a loan product, contacting a lender, or applying for a mortgage. Mortgage Marvel never forces
consumers to enter personal information, and mortgage “leads” are never collected or sold to lenders.
All rates and fees are fully accurate. To ensure accurate mortgage quotes, the Mortgage Marvel API features
direct, “real-time” integration with the mortgage databases of hundreds of lenders across the U.S. So wherever
users are located geographically, they can get a wide selection of mortgage rates and fees.
— More —
Mortgagebot’s New Mortgage Marvel API — p. 2
Unique localization. While more and more borrowers are shopping online for mortgages, many people still value
the confidence and peace of mind that comes from working with a trusted, local financial-services provider. So
the Mortgage Marvel API “hyperlocalizes” the search process, enabling users to see the exact locations of nearby
lender offices and branches.
How does the Mortgage Marvel API work?
The Mortgage Marvel API uses a Web service to extract live rate and fee data directly from the loan-product
databases of hundreds of mortgage lenders. All of these lenders use Mortgagebot PowerSite®, the loanapplication engine that is installed at more than 800 banks, thrifts, and credit unions nationwide. The API
returns an XML data stream that can be custom-configured to match the overall appearance of any Web site.
Once the API is implemented, site users can instantly obtain detailed yet anonymous mortgage quotes from
multiple lenders. Only three pieces of non-personal data are required (loan amount, property value, and property
ZIP code); but for even more personalized quotes, up to seven additional data fields can be displayed.
Positive early interest
After being introduced at the Inman Real Estate Connect NYC 2008 Conference in New York City in January,
several Web-site managers immediately began talks with Mortgagebot. As a result, Mortgagebot has already
inked Mortgage Marvel API deals with several forward-thinking Web-content providers, including:
• Tinbu™ (www.Tinbu.com), a leading provider of interactive data modules in a variety of in-demand
categories.
• OptHome™ (www.OptHome.com), an innovative homeowner support and resource Web site based in
Massachusetts.
•
BeatYouThere® (www.BeatYouThere.com), a real-estate search engine and social network that gives
homebuyers access to millions of properties—from agent listings, pre-foreclosures, bank-owned, for-sale-byowner, and newspaper classifieds.
•
ZIPVO® (www.zipvo.com), a free real-estate video-sharing Web site that enables real-estate agents to easily
enhance, market, and broadcast listings through the use of video, photos, blogs, and agent profiles.
The Mortgage Marvel API integration with OptHome was recently completed. Mortgagebot is working closely
with Tinbu, BeatYouThere, and ZIPVO to get their integration up and running.
About Mortgagebot
Mortgage Marvel and its API are products of Mortgagebot LLC (www.Mortgagebot.com), the Inc. 500
company that leads the industry in providing consumer-direct, Internet-based mortgage-origination solutions.
Mortgagebot combines its mortgage expertise with leading-edge “software-as-a-service” (SaaS) technology to
create robust, scaleable, and affordable mortgage Web sites for more than 800 lenders nationwide.
Mortgagebot’s flagship product suite is the award-winning Mortgagebot PowerSite product family, a fully
configurable and completely private-labeled solution set that enables lenders to take mortgage applications
enterprise-wide: over the Internet, in the branch, through the call center, or from a loan officer’s PC.
PowerSite’s intelligent and interactive functionality enables borrowers to complete an entire mortgage
application, get pre-approved, and receive full disclosures as little as 20 minutes. And because PowerSite
solutions are deployed via the Internet, there is no PC software to install and maintain.
To view a brief Mortgage Marvel video presentation, visit www.mortgagebot.com/marvelvideo2.
1
“Online Mortgage Shoppers’ Paths to Purchase”, by Brad Strothkamp. Published by Forrester Research, Inc. (Cambridge, Mass.); June 7,
2006. © 2006 by Forrester Research, Inc.
Mortgagebot, Mortgagebot PowerSite, and Mortgage Marvel are registered trademarks of Mortgagebot LLC.
Tinbu is a trademark of Tinbu LLC. OptHome is a trademark of OptNow Real Estate Corporation. BeatYouThere is a registered
trademark of BeatYouThere.com LLP. ZIPVO is a registered trademark of ZIPVO LLC.
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