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Internet Marketing Authors: Melih Oztalay, John Khan, Carmen Gonzalez, Neil McNulty, Elizabeth White

Related Topics: Cloud Computing, Cloud Interoperability, Cloudonomics Journal, SaaS Journal

SaaS: News Feed Item

Software as a Service (SaaS) Business Model Launched By Mortgage Builder LOS

Purchase, ASP or SaaS: software company offers three flexible business models for mortgage lenders

Mortgage Builder Software, Inc., provider of end-to-end mortgage banking software, announced new software as a service (SaaS) loan origination software (LOS) business model. With the addition of a SaaS LOS offering, Mortgage Builder is one of the first LOS providers to offer three distinct business models to control loan origination costs. Mortgage Builder’s SaaS-based LOS product allows lenders to pay by usage and sidestep periodic flat fee charges typically offered in an application services provider (ASP) model or the higher upfront costs associated with purchase. All three business models deliver the same, full-featured end-to-end LOS functionality and the ability to move from one business model to another with minimal effort.

“With our technology platform, we are the only LOS vendor that I know which offers three LOS pricing models to help lenders control costs as they navigate through changing markets,” said Keven Smith, president of Mortgage Builder. “With the SaaS model, lenders have more control over transaction costs, IT costs and data management infrastructure to match their level of business activity. In essence, we have enhanced our ‘one-stop-shop’ loan origination system by offering a variety of cost effective LOS options with no sacrifices in features and functionality. Switching between models is a seamless transition if one of the models becomes a better fit for the lender.”

Mortgage Builder is an end-to-end mortgage lending solution serving lending institutions such as mortgage bankers, credit unions and banks. The system functionality includes pre-qualification tools, processing, underwriting, closing, post closing, final document tracking, secondary marketing, warehousing, delivery, interim servicing and construction loan tracking for both wholesale and retail production. Mortgage Builder has the ability to create custom documents and reports within the system as well as a complete document imaging system creating a paperless environment. The system seamlessly interfaces to various AUS systems including Fannie Mae’s DU and Freddie Mac’s LP, as well as numerous vendors for ordering credit, flood, title, mortgage insurance, as well as core banking, accounting and servicing systems.

About Mortgage Builder Software, Inc.

Headquartered in Southfield, Mich., Mortgage Builder Software, Inc. has been providing high-quality loan origination software (LOS) to mortgage bankers, community banks, credit unions and financial institutions for nearly 10 years. Mortgage Builder® is an end-to-end mortgage lending solution for both retail and wholesale production. Their flagship product delivers everything from pre-qualification and Web integrated services through interim servicing and loan delivery. Mortgage Builder maintains the highest customer retention in the industry and is the first provider of a Linux-based LOS. Mortgage Technology magazine named Mortgage Builder as one of the industry’s top 100 technology vendors and a finalist for Mortgage Technology’s 2007 Help Desk award, which recognizes outstanding customer service. For more information, visit http://www.mortgagebuilder.com.

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