Mortgagebot

Description

Mortgagebot LLC provides software that enables banks and credit unions to market and process mortgage applications online. The company's software is delivered as a hosted service priced on a recurring monthly basis. Mortgagebot has over 700 banks and credit union customers using the service, including 23 of the top 100 banks and 45 of the top 100 credit unions in the U.S. Spectrum was the sole investor in a majority leveraged recapitalization of the company, providing full liquidity to institutional investors and partial liquidity to management and employees.

CEO Biography

Scott Happ has been Chief Executive Officer of Mortgagebot since 1997 and has more than 21 years of financial services and technology experience in the areas of portfolio management, mortgage banking, systems design, and marketing. In 1997, while working for Marshall & Ilsley Corporation, Mr. Happ founded Mortgagebot. In 2001, Mr. Happ led a successful management buy-out of Mortgagebot and has since built the company into a nationally recognized technology provider. During his tenure with Marshall & Ilsley Corporation, Mr. Happ was also president of M&I Mortgage Corp., the 29th largest retail loan originator in the nation producing $3 billion worth of loans annually through a network of 230 branch offices. Mr. Happ holds a bachelors degree in economics from the University of Wisconsin – Madison, and is a member of Phi Beta Kappa.

Headquarters: Cedarburg, WI USA
Web Site: www.mortgagebot.com