Open Solutions and Mortgage.com Form Strategic Partnership to Offer Online Loans to Underserved Market
Under the terms of the agreement, Mortgage.com will offer a suite of solutions enabling banks and credit unions to expand their products and services, backed by Mortgage.com's guaranteed service commitments to the financial institutions using Open Solutions' e-Commerce platform. With the new offering, financial institutions have three options for packaging the service to consumers: Co-brand, powered by Mortgage.com where Mortgage.com and the financial institution appear jointly; Private label, where the financial institution remains the lender; and Virtual Mortgage Company, where the financial institution is the virtual lender leveraging the Mortgage.com technical and transactional infrastructure.
Louis Hernandez, Jr., Open Solutions' chairman and chief executive officer, said, "We're helping our bank and credit union customers expand the scope of their online financial services. Institutions using Open Solutions' e-Commerce Mart(TM) can now offer a unique online mortgage product that is best in class with minimal up front investment."
The Open Solutions-Mortgage.com partnership demonstrates the Open Solutions philosophy of continuously offering additional capabilities to its signature financial software solutions. The partnership complements OSI's e-Commerce Mart software suite, the company's electronic commerce platform, which facilitates business-to-business and business-to-consumer transactions between nationally recognized partner-suppliers and the financial institution's customers.
Hernandez continued, "We are our customers' partners for life, and we are doing everything possible to ensure that their customers and members feel the same way about the institutions we serve."
Under the agreement, Open Solutions will market Mortgage.com technology and solutions to its existing and potential customers.
"Our partnership with Open Solutions expands our reach into the online mortgage solution market for community banks and credit unions," said Seth Werner, Mortgage.com chairman and chief executive officer. "These financial institutions have historically played a central role in developing communities across America. Partnering with Open Solutions allows us to give them the online tools they need to better serve their customers and communities."
Open Solutions' combination of enterprise processing applications, electronic commerce and Internet banking enables community banks and credit unions to use technology and the Internet to expand their customer relationships and generate new, profitable revenue streams.
This press release includes "forward-looking" statements that reflect Mortgage.com's current view with respect to future events and financial performance. The Company uses words such as "anticipate," "believe," "expect," "future," "plan," "estimate," and "intend," and similar expressions, to identify forward-looking statements.
The forward-looking statements in this release are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. You should be aware that actual results may differ materially from the Company's expressed expectations because of risks and uncertainties inherent in future events, including such uncertainties as are described in registration statements, reports and other documents filed by the Company from time to time with the Securities.
Louis Hernandez, Jr., Open Solutions' chairman and chief executive officer, said, "We're helping our bank and credit union customers expand the scope of their online financial services. Institutions using Open Solutions' e-Commerce Mart(TM) can now offer a unique online mortgage product that is best in class with minimal up front investment."
The Open Solutions-Mortgage.com partnership demonstrates the Open Solutions philosophy of continuously offering additional capabilities to its signature financial software solutions. The partnership complements OSI's e-Commerce Mart software suite, the company's electronic commerce platform, which facilitates business-to-business and business-to-consumer transactions between nationally recognized partner-suppliers and the financial institution's customers.
Hernandez continued, "We are our customers' partners for life, and we are doing everything possible to ensure that their customers and members feel the same way about the institutions we serve."
Under the agreement, Open Solutions will market Mortgage.com technology and solutions to its existing and potential customers.
"Our partnership with Open Solutions expands our reach into the online mortgage solution market for community banks and credit unions," said Seth Werner, Mortgage.com chairman and chief executive officer. "These financial institutions have historically played a central role in developing communities across America. Partnering with Open Solutions allows us to give them the online tools they need to better serve their customers and communities."
Open Solutions' combination of enterprise processing applications, electronic commerce and Internet banking enables community banks and credit unions to use technology and the Internet to expand their customer relationships and generate new, profitable revenue streams.
This press release includes "forward-looking" statements that reflect Mortgage.com's current view with respect to future events and financial performance. The Company uses words such as "anticipate," "believe," "expect," "future," "plan," "estimate," and "intend," and similar expressions, to identify forward-looking statements.
The forward-looking statements in this release are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. You should be aware that actual results may differ materially from the Company's expressed expectations because of risks and uncertainties inherent in future events, including such uncertainties as are described in registration statements, reports and other documents filed by the Company from time to time with the Securities.
Under the terms of the agreement, Mortgage.com will offer a suite of solutions enabling banks and credit unions to expand their products and services, backed by Mortgage.com's guaranteed service commitments to the financial institutions using Open Solutions' e-Commerce platform. With the new offering, financial institutions have three options for packaging the service to consumers: Co-brand, powered by Mortgage.com where Mortgage.com and the financial institution appear jointly; Private label, where the financial institution remains the lender; and Virtual Mortgage Company, where the financial institution is the virtual lender leveraging the Mortgage.com technical and transactional infrastructure.
Louis Hernandez, Jr., Open Solutions' chairman and chief executive officer, said, "We're helping our bank and credit union customers expand the scope of their online financial services. Institutions using Open Solutions' e-Commerce Mart(TM) can now offer a unique online mortgage product that is best in class with minimal up front investment."
The Open Solutions-Mortgage.com partnership demonstrates the Open Solutions philosophy of continuously offering additional capabilities to its signature financial software solutions. The partnership complements OSI's e-Commerce Mart software suite, the company's electronic commerce platform, which facilitates business-to-business and business-to-consumer transactions between nationally recognized partner-suppliers and the financial institution's customers.
Hernandez continued, "We are our customers' partners for life, and we are doing everything possible to ensure that their customers and members feel the same way about the institutions we serve."
Under the agreement, Open Solutions will market Mortgage.com technology and solutions to its existing and potential customers.
"Our partnership with Open Solutions expands our reach into the online mortgage solution market for community banks and credit unions," said Seth Werner, Mortgage.com chairman and chief executive officer. "These financial institutions have historically played a central role in developing communities across America. Partnering with Open Solutions allows us to give them the online tools they need to better serve their customers and communities."
Open Solutions' combination of enterprise processing applications, electronic commerce and Internet banking enables community banks and credit unions to use technology and the Internet to expand their customer relationships and generate new, profitable revenue streams.
This press release includes "forward-looking" statements that reflect Mortgage.com's current view with respect to future events and financial performance. The Company uses words such as "anticipate," "believe," "expect," "future," "plan," "estimate," and "intend," and similar expressions, to identify forward-looking statements.
The forward-looking statements in this release are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. You should be aware that actual results may differ materially from the Company's expressed expectations because of risks and uncertainties inherent in future events, including such uncertainties as are described in registration statements, reports and other documents filed by the Company from time to time with the Securities.
Louis Hernandez, Jr., Open Solutions' chairman and chief executive officer, said, "We're helping our bank and credit union customers expand the scope of their online financial services. Institutions using Open Solutions' e-Commerce Mart(TM) can now offer a unique online mortgage product that is best in class with minimal up front investment."
The Open Solutions-Mortgage.com partnership demonstrates the Open Solutions philosophy of continuously offering additional capabilities to its signature financial software solutions. The partnership complements OSI's e-Commerce Mart software suite, the company's electronic commerce platform, which facilitates business-to-business and business-to-consumer transactions between nationally recognized partner-suppliers and the financial institution's customers.
Hernandez continued, "We are our customers' partners for life, and we are doing everything possible to ensure that their customers and members feel the same way about the institutions we serve."
Under the agreement, Open Solutions will market Mortgage.com technology and solutions to its existing and potential customers.
"Our partnership with Open Solutions expands our reach into the online mortgage solution market for community banks and credit unions," said Seth Werner, Mortgage.com chairman and chief executive officer. "These financial institutions have historically played a central role in developing communities across America. Partnering with Open Solutions allows us to give them the online tools they need to better serve their customers and communities."
Open Solutions' combination of enterprise processing applications, electronic commerce and Internet banking enables community banks and credit unions to use technology and the Internet to expand their customer relationships and generate new, profitable revenue streams.
This press release includes "forward-looking" statements that reflect Mortgage.com's current view with respect to future events and financial performance. The Company uses words such as "anticipate," "believe," "expect," "future," "plan," "estimate," and "intend," and similar expressions, to identify forward-looking statements.
The forward-looking statements in this release are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. You should be aware that actual results may differ materially from the Company's expressed expectations because of risks and uncertainties inherent in future events, including such uncertainties as are described in registration statements, reports and other documents filed by the Company from time to time with the Securities.
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