ING Direct USA licenses Metavante mortgage processing technology

Source: Metavante

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."

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