MEQUON, WI--(MARKET WIRE)--Jul 28, 2008 -- It's won "Best in Show" at a prominent national technology conference. Mortgage-industry publications have called it the "Orbitz" of mortgage-shopping Web sites. Top consultants have called it "a big win-win for both consumers and lenders" and have stated that it "gives both lenders and consumers what they want."

What's creating all that buzz? Mortgage Marvel® (www.MortgageMarvel.com), the most innovative, accurate, and hassle-free mortgage-shopping Web site in existence. Launched in October 2007 by Mortgagebot® LLC (www.Mortgagebot.com), Mortgage Marvel enables consumer borrowers to gain instant access to accurate mortgage rate-and-fee comparisons from a nationwide selection of hundreds of bank and credit-union lenders.

Since its introduction, Mortgage Marvel's Give Us Your Feedback window has been collecting a steady stream of user comments, including: "Awesome site; very well organized." "The best tool for the consumer." "This is such a good product!"

"Consumer borrowers are finding and using Mortgage Marvel -- and they're liking the experience," noted Scott Happ, President and CEO of Mortgagebot. "Since the site is designed from the ground up with consumer usability in mind, this kind of response from mortgage shoppers is very gratifying."

Mortgage Marvel to the rescue

"There's no lack of mortgage-shopping Web sites on the Internet," said Dan Welbaum, Mortgagebot's Chief Marketing Officer. "But most of them are time-consuming and confusing -- and they can't display accurate and comprehensive mortage quotes in real time. We designed Mortgage Marvel to be completely unique -- a groundbreaking solution that would provide the most satisfying mortgage-shopping experience possible."

And in today's world of Internet-based mortgage-shopping options, a satisfying consumer experience is exactly what's lacking.

According to a recent consumer survey by Deloitte Consulting LLP(1), more than 70 percent of all mortgage shoppers start their search online, but only 30 percent of online loan applicants say their lender has a tool that provided customized product recommendations based on their specific needs. And less than half of all online mortgage shoppers are satisfied with their ability to compare the loan products and fees of multiple lenders.

"The Deloitte survey clearly spotlights the challenges that Internet mortgage shoppers are constantly facing -- problems that are completely resolved with Mortgage Marvel," stated Mr. Welbaum. "That's why America is turning to Mortgage Marvel when it comes time to shop for mortgage loans."

Consumer borrowers give Mortgage Marvel "the highest possible rating"

"I was looking for a mortgage-shopping tool that would help me save time," said Mr. David Pruka, a sales executive and Mortgage Marvel user from Minneapolis, Minn. "I wanted to efficiently find the right mortgage rates and the right mortgage lender; and I wanted to be in control of my search. I also needed something that's fast and easy -- I don't have time to sit down with a pile of papers."

"Mortgage Marvel delivered all that in a matter of minutes," Mr. Pruka said. "It was extremely convenient and easy to use, and there was no pressure at all. I would give Mortgage Marvel the highest possible rating."

Mr. David Huth, a plant manager from Mulberry, Fla., had a similar experience with Mortgage Marvel.

"The entire process of using Mortgage Marvel was streamlined, efficient, easy, and fast," recalled Mr. Huth. "Nothing happened that I didn't expect, and Mortgage Marvel gave me easy access to a national selection of lenders. I could enter my information quickly, get instant rate quotes, and move on."

"I also like the fact that at no point when using Mortgage Marvel did I feel that someone was trying to get information from me to sell to a third party," noted Mr. Huth. "I don't like to give out personal information, and I was quite comfortable with the few pieces of non-personalized property data that Mortgage Marvel asked for."

Lenders also benefit from Mortgage Marvel

But consumer borrowers aren't the only ones benefiting from Mortgage Marvel: Lenders that participate in Mortgage Marvel are seeing an increase in mortgage-application volume -- and they're gaining new customers.

One noteworthy Mortgage Marvel lender is Bedford, Mass.-based Hanscom Federal Credit Union, a 55-year-old credit union with 43,000 members, 16 offices, and $624 million in assets.

"Since we signed up for Mortgage Marvel, we've been very pleased. It has brought in not only additional mortgage applications, but new members as well," said Ms. Claire Beaudoin, VP of Mortgage Lending at Hanscom. "We have a nationwide membership, and the national appeal is what we really like."

Mortgage Marvel is unique among mortgage-shopping Web sites in the way it enables borrowers to directly connect to the advanced, online lending system used by the hundreds of lenders across America that license Mortgagebot PowerSite®, the industry's leading solution for online, consumer-direct loan origination.

For the first time, borrowers can be confident that the interest rates and fees they see online are the actual rates and fees they will get when they apply for a loan. And lenders can benefit from having their products showcased on a mortgage-shopping Web site that helps them compete with popular online rate portals and loan aggregators.

"With Mortgage Marvel, consumers get the accurate, convenient mortgage shopping experience they deserve, and lenders gain an exciting new business channel that helps them expand their online mortgage business," said Mr. Welbaum. "Now community-based lenders can more easily gain new mortgage clients who begin their mortgage search online -- a piece of the mortgage-lending 'pie' that many lenders previously haven't had access to."

About Mortgagebot

Mortgage Marvel is a product of Mortgagebot LLC (www.Mortgagebot.com), the Inc. 500 company that leads the industry in providing consumer-direct, Internet-based mortgage-origination solutions. Mortgagebot combines its mortgage expertise with leading-edge "software-as-a-service" (SaaS) technology to create robust, scaleable, and affordable mortgage Web sites for nearly 800 lenders nationwide.

Mortgagebot's flagship product suite is the award-winning Mortgagebot PowerSite product family, a fully configurable and completely private-labeled solution set that enables lenders to take mortgage applications enterprise-wide: over the Internet, in the branch, through the call center, or from a loan officer's PC. PowerSite's intelligent and interactive functionality enables borrowers to complete an entire mortgage application, get pre-approved, and receive full disclosures in as little as 20 minutes. And because PowerSite solutions are deployed via the Internet, there is no PC software to install and maintain.

To view a brief Mortgage Marvel video presentation, visit www.mortgagebot.com/marvelvideo2.

(1) "The Silver Lining in Lending: Turning Doubters into Online Believers," by Annette Tirabasso and Kimberly Spears (May 2008), published by Deloitte Development LLC.

Mortgagebot, Mortgagebot PowerSite, and Mortgage Marvel are registered trademarks of Mortgagebot LLC.

All other trademarks are the property of their respective owners.

     For more information, contact:
      
     Cindy Golisch
     PR Unlimited
     480-471-8820
      
     Dan Welbaum
     Chief Marketing Officer
     Mortgagebot LLC
     262-292-2707