Partnership provides all-in-one Point of Sale (POS) solution to automate borrower verification, mortgage rate pricing, and loan production
LINCOLN, Neb.—August 23, 2016 — Mortech®, a Zillow Group business providing mortgage technology solutions for mortgage bankers and secondary market teams, today announced a new integration between Mortech’s product and pricing engine (PPE) and Daric, an online based mortgage application tool, to help streamline the loan origination process. The new integration provides mortgage lenders with a suite of web, mobile, and tablet-friendly tools to automate borrower verification, mortgage rate pricing, loan decisioning and servicing.
The partnership streamlines the mortgage process by allowing borrowers to complete their loan application via Daric’s online mortgage origination solution. Mortech’s Marksman® ensures customers receive accurate mortgage rate quotes and allows lenders automatic best execution from their portfolio of investor pricing. Mortech also provides the ability to route all borrower leads from consumer direct marketing websites such as Zillow, Bankrate, LendingTree, and QuinStreet, directly into the integrated application.
“As more borrowers increasingly begin their mortgage shopping process online, we continue to strive to offer fintech solutions to meet these changing consumer demands,” said Doug Foral, general manager at Mortech. “Through Mortech’s extensive mortgage pricing, investor data and application program interfaces (APIs), we’re able to create integrated custom solutions with leading mortgage technology partners like Daric, enabling lenders to close more loans in a fast and cost effective manner.”
“Consumers are used to having everything they need at their fingertips, and providing an online service to initiate the mortgage borrowing process is essential for today’s mortgage lenders to stay competitive,” said Vasant Ramachandran, chief technology officer at Daric, Inc. “Having accurate pricing built into the application builds borrower trust and streamlines the lender origination process. By partnering with Mortech, we can provide a better online mortgage experience for both borrowers and lenders alike.”
Mortech® supplies thousands of mortgage professionals with a number of services and tools, such as all-in-one pricing, rate notification, prospect management tools, custom rate sheets, loan product eligibility and guideline services. Founded in 1987, Mortech is based in Lincoln, Neb. and is owned and operated by Zillow Group, Inc. (NASDAQ:Z and ZG).
Zillow, Mortech and Marksman are registered trademarks of Zillow, Inc.
For more information visit: http://www.mortech.com/
Daric, a Stanford Start-X company, provides end-to-end solutions for loan origination and decisioning along with analytics, secondary marketing, and risk management for lenders and asset managers in the US, Europe, and Australia. Based in Silicon Valley Daric has been featured in Bloomberg, TechCrunch, and the Australian Financial Review and is backed by top investors including former Wells Fargo Chairman and CEO Richard Kovacevich.
Contact: Katie Sheridan
402-441-4647 ext. 83561