Contact: Coleman Nee
JKN Strategies, Inc.
617-359-6000 (Cell)

Mt Washington Bank is pleased to announce its newest customer friendly product E-Mortgage, a new online mortgage application and pre-approval tool. Potential homebuyers and homeowners looking to purchase a new home or to refinance now have a powerful new tool available to them at www.mtwashingtonbank.com.

E-Mortgage is part of Mt. Washington Bank’s new online Mortgage Center., which offers a quick and easy way to apply for a mortgage loan anytime, get an approval online, and then track the progress of a loan. In addition to an immediate decision on a mortgage loan and pre-approval, customers can also obtain rate quotes online and sign up for Rate Watch where they can obtain rates for a specific scenario which are sent out on a daily, weekly, monthly basis or when their target rate is met.

The Mt. Washington Bank E-Mortgage Center also includes calculators, descriptions of different loans and a glossary. Customers can apply on-line for a pre-approval, purchase or a refinance and find out in a few minutes whether they qualify for the loan, subject to the Bank receiving and verifying the information need. During the loan processing they can track the progress. Customers can also view and print their appraisal and commitment letter.

E-Mortgage is another great convenience from Mt. Washington bank for borrowers. People can still apply by meeting with a loan officer, by mail or over the phone. Each loan officer has their own customized site and there is a main site through a link the bank's home page.

“Our new online Mortgage Center does not replace our present loan officers and banking office managers. It is simply another way for busy people to do business with Mt. Washington Bank when and from where it is convenient for them,” said Edward Merritt, President and CEO. “We think that by having an online Mortgage Center, people will be able to apply for loans anytime and learn more about their options all while doing business with a local community bank. We also think people will like being able to check on the status of their loan online as it moves from origination to closing. The calculators and quick rate quotes make it very easy for customers to get the information they need. And with the current changing rate environment we expect plenty of people to take advantage of the Rate Watch feature.”

To help introduce E-Mortgage to its customers, Mt. Washington Bank is setting up a computer at each of its location for customers to review the product and sign up for rate watch. As an added bonus, customers that sign up during these times will be entered into a drawing to win a free desktop computer.

E-Mortgage will be showcased at the following locations:

Week of October 18th: 708 East Broadway
Week of October 25th: Andrew Square
Week of November 1st: 430 West Broadway
Week of November 8th: 489 Gallivan Boulevard.

Founded in 1893, Mt. Washington Bank has stayed committed to the promise outlined in its mission statement by being a “full-service independent bank, offering financial services to meet the needs of its retail and small business community.”

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