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London Bridge Group announces today that it has acquired the rights to market MortgageHub's leading wholesale/correspondent web service platform as a component of its BridgeLink network. The agreement allows London Bridge Group to offer connectivity to a fully-integrated network of lenders and third party service providers through the industry's most feature-rich and highly scalable loan originations system.
London Bridge Group is a global provider of business software and e-commerce technology solutions to financial institutions. Its BridgeLink vendor management network is the largest e-commerce platform in the lending industry, connecting over 1,400 major service providers, agencies, attorneys, lenders and third-parties.
MortgageHub is the leading provider of mortgage frontline systems and its clients include GMAC Mortgage Corporation, Wachovia Bank, Wells Fargo Home Mortgage, Waterfield Financial Corporation, Old Kent Mortgage, SunTrust Bank, First Security Loan Corporation, National City Mortgage, and Chase Home Mortgage.
The addition of MortgageHub to the BridgeLink network provides London Bridge Group's mortgage origination customers access to a secure and scalable wholesale, correspondent, retail and direct-to-consumer web platform. Retail or correspondent loan officers will be able to provide customized web-sites, view rate sheets, underwriting guidelines, pricing, reports and real-time pipelines, they will be able to upload loans, submit to automated underwriting, register and lock loans with real time pricing, print documents and access the bulletin board.
"MortgageHub is recognized as a leader in front end web-services for loan originations. The addition of MortgageHub to our BridgeLink network represents a continued commitment by London Bridge Group to be the leading provider of loan origination systems and services. Access to a wholesale/correspondent network is a critical component of providing complete connectivity to all parties involved in the loan origination process," says Dave Demster, President of London Bridge Group's mortgage and e-commerce divisions.
"The MortgageHub and London Bridge Group technology partnership provides an extremely compelling lending solution. The combination offers a tightly integrated, very efficient automation platform with the benefits of significant savings in the cost-to-produce a loan and enriches the customer service while establishing longer term customer loyalty," says David Rae, CTO of MortgageHub.