Company

Netupdate®, Inc., is a software development and services company providing unique solutions to mortgage lending professionals that increase loan pull through and reduce costs. Netupdate's products use the Internet to help move mortgage lenders from expensive, slow, paper-based transactions to efficient, integrated, electronic transactions. By allowing each person involved in the lending transaction to interactively share information and documents, and to communicate in a managed fashion, Netupdate solutions reduce transaction time, streamline back-office processes and increase borrower satisfaction.

Founded in October 1998, Netupdate began operations in June 1999. The experience of the founders in e-commerce and communications fueled the original business concept of creating a better way to leverage the Internet to streamline the mortgage lending process. Netupdate's flagship product, Originator Pro, brings loan officers Internet-enabled point-of-sale tools that allow their business partners e.g. Realtors and Builders, and Borrowers to get involved in the process of initiating the loan application.

Netupdate uses both direct sales and channel sales to penetrate the market. Direct sales and inside sales employees split up the country by geography and by previous "books of business." The channel sales division includes strong partner relationships with Harland Financial Services and Lion, Inc.

Fannie Mae and Freddie Mac are government-sponsored entities that provide liquidity to lenders once a loan has been closed. We enjoy strong business development relationships with both organizations.

Headquartered in Bellevue, Washington, Netupdate is funded by Alexander Hutton Venture Partners, Greenstone Venture Partners, Irwin Ventures and Timberline Venture Partners.