Dan Welbaum with Mortgagebot gives consumers the ultimate online lending experience

BrokerIPTV: We are at the vendor display here at Inman Connect in San Francisco 2008 and I am with Dan Welbaum and Dan, welcome.

Dan Welbaum: Hey, thank you Mark. We are happy to have you guys stop by with us for a few moments.

BrokerIPTV: You bet. I understand you guys have a new product now. Can you tell me when you released that?

Dan Welbaum: We released the product October 1st in actually New York City at something called Finovate, financial innovation technology conference and a product called mortgagemarvel.com and we were fortunate to win Best of Show when we introduced that product back in New York City October 1st of 2007.

BrokerIPTV: mortgagemarvel.com and you have got another trade name called Mortgagebot?

Dan Welbaum: Actually, our company is named Mortgagebot. We are a 10 year old company. We are the leader if you will in Internet lending for the financial industry with well over[Phonetic] 800 financial institutions that use our core product that allows consumers to apply a loan, apply online if you will, that is an Internet lending solution, apply online and get approved in 20 minutes or less.

BrokerIPTV: So, we are talking pretty much A-paper in a situation like this.

Dan Welbaum: Yeah, we are talking about A-paper, if you will, prime grade lenders and so our lenders basically are financial institutions that are multibillion dollar financial institutions like Citibank or [Inaudible], regular community banks, credit unions that are lenders, that are using our solution.

BrokerIPTV: Well, I think products like Lendingtree and so forth are nothing more than for the most part lead generation. I mean you don't consider yourself a lead generation company, do you?

Dan Welbaum: Not... I mean we are a lead generation company in that the lenders that we serve, the 800 financial institutions that we serve, we have got well over[Phonetic] 250 financial institutions that are integrated into Mortgage Marvel. These are reputable lenders if you will and... so, Mortgage Marvel in essence is a lead generation solution for those lenders, but the real essence of Mortgage Marvel is for the consumer, giving that consumer a fast, easy, quick way to shop in privacy and totally significantly reduce[Phonetic] that mortgage shopping experience.

BrokerIPTV: Well, it sounds like a great product. I can't wait to get back to my room tonight to try it out.

Dan Welbaum: Hey, it is very exciting. Thanks for stopping by Mark. We appreciate it.

BrokerIPTV: Appreciate your time today.

Dan Welbaum: Yeah. Thank you Mark.

BrokerIPTV: Bye.

Posted on October 12, 2008 12:53:24 by Blog Author