06 Jul Metavante's broker technology licensed to ING Bank
Milwaukee, Wis. – Metavante Co., the banking and payments technology subsidiary of Marshall and Ilsley Co., has announced licensing of online loan software to the federally chartered savings institution, ING Bank.
In the move, ING Bank, with more than four million customers and over $62 billion in assets, gained access to package of lending products for its wholesale mortgage operation, ING Mortgage.
With the products, brokers can obtain instant eligibility, pricing, and underwriting decisions and submit and manage a pipeline of loans while viewing real-time loan status information.
ING Mortgage will be deploying the online tool, a wholesale point-of-sale (POS) and loan origination system (LOS) technology, along with a Web-based wholesale origination website (WOW) from GHR Systems, Inc., a subsidiary of Metavante.
The Web-based LOS is designed to shorten the loan origination process, and includes service ordering and the movement of data and documents from point-of-sale to loan closing.
GHR Systems president Cy Brinn believes the technology will give brokers an efficient way to determine what mortgage products are available to the customer, and analyze the pricing options, interest rates, fees, and other stipulations placed on them.
In addition to providing decision-making tools, he said the technology enables brokers to determine what mortgage products the borrower is eligible for as quickly as possible.
There also is a partnership benefit for GHR Systems. Brinn said that working with a company like ING, which has its own reputation for innovation, will provide GHR more leading-edge ideas with which to evolve its products.
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