Union Bank of California and Mortgagebot join forces

Mortgage Banking, Nov, 2002

UNION BANK OF CALIFORNIA N.A., SAN Francisco, announced today it has implemented an advanced online residential mortgage lending platform developed by Mortgagebot. According to Mortgagebot, the online lending system contains a number of innovative features jointly pioneered by Mortgagebot and Union Bank, setting a new standard in customer security and Web site performance monitoring for the online lending industry.

The Mortgagebot PowerSite solution enables Union Bank customers to conveniently and securely obtain mortgage financing through the UBOC.com Web site. Customers can obtain highly detailed rate and fee quotes; complete a personalized, secure mortgage application; and receive instant, credit-verified loan approvals, all in less than 30 minutes. Mortgage application data collected on UBOC.com is immediately and seamlessly downloaded into Union Bank's loan processing system, saving time and expense.

To enhance the security of post-application customer communication, Mortgagebot and Union Bank collaborated to develop a secure messaging system that allows Union Bank personnel to communicate electronically with customers in a highly secure environment. Mortgagebot also created a mechanism supporting access to advanced reporting tools for Union Bank management to monitor and evaluate Web site activity.