Mortgage Marvel, a New Mortgage-Shopping Web Site, Takes the Pain out of Online Mortgage Shopping

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Simple. Accurate. Incognito. Using Mortgage Marvel is a breeze. With three simple steps—and just one mouse-click—you can get true & accurate rate, fee, & disclosure comparisons from reliable lenders.
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United States of America (Press Release) November 5, 2007 -- Even in a fluctuating real-estate market, people are mortgage shopping. And according to a recent study by Forrester Research1, they’re increasingly using the Internet to research and compare mortgage rates and fees. But online mortgage shopping can be frustrating and even fearful. That’s why Mortgagebot is introducing its Mortgage Marvel Web site (www.MortgageMarvel.com).

If you’ve shopped for a mortgage lately, you know the challenges: Going online is quick; but after that, it can really bog down. Web sites can be confusing. You may be forced to reveal personal information. You have to page through screen after screen just to get a simple rate and fee quote. And then when you finally get a list of mortgage products, the rates and fees can be outdated or inaccurate—which could be perceived as “bait and switch.”

Mortgage Marvel is the new, easy-to-use, ad-free mortgage-shopping Web site operated by Mortgagebot, the leading provider of online mortgage-application technology for more than 700 banks, thrifts, and credit unions across America. Due to its unique business model, Mortgagebot is ideally positioned to create the industry’s fastest, simplest, and most accurate mortgage-shopping Web site.

“Mortgage Marvel features no ads,” said Happ. “Borrowers never have to page through multiple screens, and they don’t have to enter personal information. With only three bits of property-related data and only a single mouse-click, Mortgage Marvel provides borrowers with fast, accurate, real-time mortgage quotes from trusted, local lenders.”

“Consumers always get accurate rates with Mortgage Marvel,” Happ stated. “That’s because Mortgage Marvel creates its rate and fee comparisons from the actual loan-product databases of the hundreds of trusted, local mortgage lenders that use our PowerSite system. And it’s all done in ‘real time,’ so when you contact a lender to arrange for home financing, what you’ve seen online is exactly what you get.”

Mortgage Marvel features a Learning Center, which gives consumers practical borrower’s tools, such as: mortgage-related calculators; expert commentary on mortgage-related issues, credit scores, qualifying for a loan, mortgage insurance, and closing costs; and more.

Mortgage Marvel was recently introduced to the financial-services community, and already it’s generating a buzz. Mortgage-industry commentators are impressed; and Mortgage Marvel was even named “Best in Show” at the Finovate 2007 Conference in early October (www.Finovate.com). MortgageMarvel.com also meets the Better Business Bureau’s BBBOnLine Reliability Program participation and membership standards.

“Mortgagebot got it right,” said James D. Jones, president of First Wellesley Consulting Group (Wellesley Hills, Mass.). “Consumers want reliable information, accurate mortgage rate comparisons, lender choice, and personal control when shopping for mortgages online; and Mortgage Marvel gives [them] what they want.”


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