MorWEB deals set to challenge Expert

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MorWeb is revving up to give Expert a better run for its money, the company behind the mortgage platform announcing revised deals with two of the channel’s biggest lenders.

“Competition is always healthy for any industry,” said Tim Brown, president and CEO of Marlborough Stirling Canada. “We’ve have always prided ourselves on a being highly dependable platform, and with these deals, we are also helping to change the economics of how things are done and provide lenders a cost-effective alternative.”

The revised agreements with Scotiabank and First National effectively provide those major players “a more predicable cost structure” for use of the broker origination system MorWeb.  For Marlborough Stirling, the agreements allow it to better invest in the platform, the expectation being, said Brown, other lenders will follow First Nat and Scotia's lead.

Brown bills the agreement with the latter as a sea-change in the way the lender’s pricing model is structured in terms of processing applications received from brokers.

The Bank of Nova Scotia was also attracted by MorWEB’s zero outage record over the past eight years, he said.

That record may also help to win greater broker use, answering a call, say some veterans, for greater competition in platforms.
  • Chris on 21/11/2012 3:52:01 AM

    I piloted Morweb years ago and it was by far a better system than Expert, but without lender support I simply couldn't justify using 2 systems...It will take alot more than just Scotia & 1st Nat to support the product before it makes sense for nay brokers to make the switch, but I wish them well...Morweb is light years ahead of Expert!

  • Mike Distefano on 21/11/2012 4:19:48 AM

    I sure hope more lenders follow suit, I was forced to switch to Filogix due to lack of lenders, but Morweb is by far a much better and more wdficient system, would gladly convert back to Morweb

  • n hamblin on 21/11/2012 4:32:23 AM

    Come on MorWeb we need a viable alternative to Expert. In 7 years of being on Expert I have never received a return phone call on a ticket and the problem is always the user and not the system. I am cheering you on and hoping you will be a fully viable alternative in the near future.

  • Suz on 21/11/2012 5:57:54 AM

    I LOVE MORWEB... I was one of the original BC brokers on the system and used it for many years exclusively. I absolutely miss it since changing firms, and I would recommend it to everyone if you get the opportunity to make a choice.

  • DebT on 21/11/2012 6:10:31 AM

    Hi Mark, I am an administrator that has to use both systems and there is no question that MorWEB is the better of the two systems. Filogix is about the deal and MorWEB is client based, so refinancing is sooo much easier. Also, the 3rd party software (ScoreMaker and the CRM) are a huge part of my day to day activities by making my job easier. If all the lenders accepted deals in the same efficient method (and we got to keep the same underwriters) I would be even happier with MorWEB!

  • Chris on 21/11/2012 7:17:32 AM

    Like DebT says...being client based Morweb saves so much time when adding participants, or doing subsequent deals, or even when just trying to manage your client base...

  • George Dannewald on 22/11/2012 7:00:31 AM

    As a former Mortgage Centre broker we were on a non Internet system that used the telephone system called LSS (Lender Specific System) which was totally user friendly between us and the lenders, easily able to produce many reports, had a great CRM and you could see lot more of the clients infomation on screen. LSS was totally KISS! Then, we switched to Filogix Expert several years ago, and have been totally dissatisfied with it from Day one. I for one would love it if the brokerage industry would switch to MorWEB, a system for which most of the comments seem to claim is much better, and would be willing to re-train and use such a system.

  • Mark Fitsworth on 21/11/2012 5:54:01 AM

    I am shocked to read the comments abot Morweb being better than Expert. When I first started out nearly a year ago we used Morweb. What a nightmare! Slow, non responsive and difficult to use. When we switched to Filelogix Expert it was like upgrading from Windows 95 to Windows 7. Morweb is an archaic system that is in great need of an overhaul. There is a reason why one platform is free and the other you have to pay for. You get what you pay for.

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