FOR IMMEDIATE RELEASE
June 20, 2011
ABA Media Contact: John Hall
(202) 663-5473
E-mail: jhall@aba.com
Follow us on Twitter @ABABankingNews

                                                           ABA SUBSIDIARY AND MORTGAGEBOT 
                                                      AGREE TO EXTEND ALLIANCE AGREEMENT
 
Washington – Business Solutions, an ABA subsidiary, and Mortgagebot have agreed to extend their alliance to provide ABA member banks with online mortgage application solutions at preferred terms.  Mortgagebot will continue to be a valued component of the Business Solutions/Freddie Mac alliance relationship and is part of the suite of Mortgage Solutions alliances available to ABA members.

Mortgagebot is one of the nation's top providers of online mortgage solutions, serving more than 1,000 financial institutions. Mortgagebot helps banks deliver a superior borrower experience for their customers while boosting productivity, reducing application costs, maintaining regulatory compliance and improving efficiency.

"Since our inception in 1997, Mortgagebot has remained focused on delivering industry-leading, Web-based mortgage origination solutions to all sizes of financial institutions," said Scott T. Happ, president of Mortgagebot. "In a time of continuous change in the industry and competitive landscape, ABA member banks continue to recognize the importance of leveraging technology and automation to deliver on their core lending goals of customer service, compliance, and profitability.  Their success has been astonishing."

"Our members appreciate the easy to implement, customized solutions provided by Mortgagebot," said Bill Kroll, president of Business Solutions.  "Mortgagebot offers a unique product that is flexible and can be deployed in a variety of ways by our member banks."

Business Solutions currently has 12 strategic alliances with top companies that bring ABA banks advantages in pricing, delivery options, technology and support. These companies operate in the areas of secondary marketing, reverse mortgage lending, mortgage insurance, and technology – including fraud detection and prevention, appraisal management, outsourcing, and online lending technology.

About Business Solutions
Business Solutions, a subsidiary of the American Bankers Association, helps community bankers with the business of banking by providing them access to products and services on better terms than they could get on their own. By leveraging the collective power of ABA members, we offer significant savings through competitive mortgage lending, payments, capital markets and commercial banking solutions.Learn more at aba.com/BusinessSolutions.

About American Bankers Association
The American Bankers Association represents banks of all sizes and charters and is the voice for the nation's $13 trillion banking industry and its 2 million employees.  The majority of ABA's members are banks with less than $165 million in assets.  Learn more at www.aba.com. 

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