ING Mortgage Selects Metavante Lending Automation Technology
July 06 2006 - 7:00AM
Business Wire
Technology supports innovative mortgage origination and production
model Metavante Corporation, the banking and payments technology
subsidiary of Marshall & Ilsley Corporation (NYSE:MI), today
announced that ING DIRECT USA has licensed its online wholesale
point-of-sale (POS) and loan origination system (LOS) technology
for its wholesale mortgage operation, ING Mortgage. ING Mortgage
will be deploying the Web-based Wholesale Origination Website from
GHR Systems, a Metavante Lending Solution, integrated with its Loan
Origination Studio product. GHR's Wholesale Origination Website is
a comprehensive, interactive and secure, broker-centric system
designed to provide self-service for wholesale loan personnel.
Because the system includes GHR's automated decision engine,
brokers can obtain instant eligibility, pricing and underwriting
decisions. Brokers can also efficiently submit and manage an entire
pipeline of loans while viewing real-time loan status information,
conditions and loan notes directly from GHR's LOS platform. ING
Mortgage will also implement GHR's Web-based LOS, featuring
integrated decisioning, including service ordering and the movement
of data and documents from the point-of-sale through to loan
closing. GHR's LOS automates the mortgage sales process and boosts
loan processing productivity and customer satisfaction by
significantly shortening the loan origination process by automating
steps that previously required manual attention. The selection of
GHR lending automation technology supports a major technology
transformation initiative at ING Mortgage to automate their
mortgage origination processes. "ING DIRECT USA is one of the
country's most innovative financial services providers," said Cy
Brinn, president of GHR Systems, Inc. "We are pleased to have been
selected to provide technology solutions for their wholesale
origination and processing business. GHR's technology was designed
to enable innovative lenders to achieve a higher level of
automation to reduce manual labor, thereby reducing cycle times and
overall loan production costs. In this way, we believe ING
Mortgage's approach will ultimately transform mortgage lending in
the U.S. and GHR's technology will help accomplish this objective."
About ING DIRECT USA Headquartered in Wilmington, Del. with offices
in New York, Philadelphia, Los Angeles and St. Cloud, Minn., ING
DIRECT USA is the operating name of ING Bank, fsb (Member FDIC), a
federally chartered savings bank offering the Orange Savings
Account and other high-value financial products including the
Orange Mortgage. ING DIRECT USA is part of ING (NYSE:ING), one of
the largest financial services organizations in the world. ING has
been operating in the U.S. for over 100 years, with more than
10,000 employees working for ING companies. ING DIRECT USA has over
4 million customers and more than $62 billion in assets. ING DIRECT
USA is one of nine direct banks operated globally by ING DIRECT;
the other locations are Canada, Australia, France, Spain, Italy,
the United Kingdom, Austria and Germany (where ING DIRECT is known
as ING DiBa), with a total worldwide customer base of 15 million
(including U.S. customers). For product information or to open an
account, visit www.ingdirect.com or call 1-800-ING-DIRECT. Style
note to Editors: ING DIRECT is always capitalized and never
referred to as ING. About Metavante Metavante Corporation provides
loan origination, processing and closing systems for the
residential mortgage, consumer and small business lending
industries through GHR Systems, Inc., a Metavante Lending Solution.
GHR's systems are used by large, mid-sized and emerging lenders to
better market, sell and close loans through all distribution
channels, including wholesale, retail, consumer direct and
correspondent. Four of the Top 10 U.S. Mortgage lenders use GHR's
systems. GHR is a Microsoft Gold Certified Software Development
Partner. For more information, please visit www.ghrsystems.com.
Metavante Corporation delivers banking and payment technologies to
financial services firms and businesses worldwide. Metavante
products and services drive account processing for deposit, loan
and trust systems, image-based and conventional check processing,
electronic funds transfer, consumer healthcare payments, and
electronic presentment and payment. Headquartered in Milwaukee,
Metavante (www.metavante.com) is wholly owned by Marshall &
Ilsley Corporation (NYSE:MI). Metavante is a registered trademark
of Metavante Corporation.
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