ORLANDO, Fla. – If the first two weeks' level of activity on Insight Financial CU's new online mortgage center is any indication of members' approval of the new product, then the CU can consider it a success. Insight Financial CU has added an online mortgage origination center to its Web site – www.insightfinancialcu.com – that gives users the ability to research interest rates and loan products, as well as apply for mortgages online 24-hours a day, seven days a week. A credit union representative said in the first two weeks the online mortgage center was available there were over 300 hits to the site and 12-14 mortgage applications were submitted through it. Insight Financial currently has 1,377 loans in its mortgage portfolio worth $79,196,317. The credit union is making the new online product available through its partnership with Mortgagebot LLC, a leading provider of Internet-based loan origination solutions for the mortgage lending industry. Prior to the introduction of its online mortgage center, Insight Financial's more than 50,000 members who wanted information on the CU's mortgage products or wanted to apply for a loan depended on being able to come to the CU during branch hours to speak with a member service representative and complete the necessary paperwork. The new Web site, says the credit union, provides members with the ease and convenience to do everything online. Visitors to the site can sign up for Rate Watch which allows them to be emailed rate information. They can select to be notified when a rate hits their desired target or they can choose to receive all the rates for a specific product at certain delivery intervals for a specific amount of time. Members who want to apply for a mortgage online can save their application and return to complete it at any time. Online tools include mortgage calculators, a glossary, details of what to expect throughout the application process, and product description. Assistance is provided during the application process and is customized for the specific questions that are displayed on the screen. Members learn within two minutes if they're approved, even on weekends. Insight Financial's new online mortgage center is currently available only for first mortgages. The credit union expects to have members be able to download and print applications for second mortgages – home equity and home improvement loans – from the site by the end of September. Members could then bring the completed application to Insight Financial for approval. The CU expects that to be ready end of September. -

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