MorWEB deals set to challenge Expert

MorWEB deals set to challenge Expert

MorWEB deals set to challenge Expert 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 2012-11-21 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!
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  • Mike Distefano 2012-11-21 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
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  • n hamblin 2012-11-21 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.
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