MindBox Launches Automated Web Decisioning

MindBox, Greenbrae, Calif., has launched MindBox Power Portal, a customizable website technology for electronic commerce transactions that allows lending institutions to quickly launch private branded websites for automating the underwriting and approval of mortgage loan applications.With MindBox Power Portal, brokers, loan officers, and other originators can submit specific borrower and loan information to a website for automatic analysis. For every loan submitted, multiple loan scenarios are automatically generated by MindBox's deal-structuring capabilities and displayed by the Power Portal. Power Portal supports multiple channels of business -- including wholesale, correspondent, retail, and affinity -- and can be implemented as a stand-alone e-commerce site or integrated into an existing website. The product features, among other things, user authentication for secure, authorized transactions; pipeline management that allows users to view the status of their loans; credit interface and analysis for real-time, accurate scoring; and electronic integration into the lender's back office. The company can be found on the Web at http://www.mindbox.com.