ARC Systems Announces Agreement With Matrix Financial Services Corporation
24 Oktober 2005 - 3:00PM
PR Newswire (US)
New Technology Will Provide the Tool to Create the Most Profitable
Loan Pool Combinations ORLANDO, Fla., Oct. 24 /PRNewswire/ -- ARC
Systems(TM), a leading mortgage automation provider, announced at
the Mortgage Banking Association's 92nd Annual Conference and Expo
(MBA Booth #221) their agreement with Matrix Financial Services
Corporation (Matrix) to provide a core system. Using the new
system, Matrix will develop their flow business and manage their
existing correspondent business by implementing ARC Systems'
award-winning LendTech(TM) product. Matrix plans to launch the
implementation in the first quarter of 2006. ARC Systems' web-based
platform will automate Matrix's decisioning on purchases of closed
loans. LendTech will perform due diligence for loan pools on a bulk
basis and a comprehensive underwrite for individual loans on a flow
basis. Additionally, ARC Systems will provide an interface to a
third-party vendor for compliance screening. LendTech's real-time
decisioning functionality will be leveraged across Matrix's
correspondent lending business to make accurate, real-time
decisions on a bulk and flow basis, as well as to provide a solid
foundation for establishing processes and managing operations as
their business grows. In preserving the quality of Matrix's loan
pools, LendTech provides the loan quality metrics tool to see 100
percent of what is in the loan pools, rather than a sampling. This
will ensure the loan pools Matrix creates through the flow basis
and purchases through the bulk basis are accurately distributed
among appropriate capital markets. For Matrix's flow line of
business, LendTech will underwrite loans purchased from
correspondents around the country. The LendTech technology will
help Matrix develop the most profitable combinations of loan pools.
With LendTech's quick pricing scenario functionality, Matrix can
run the loan through the system to determine whether it's the
desired rate, lock the rate and perform a full underwrite on the
loan application. "We have experienced significant growth, and we
needed a core system to enhance our business processes to assist us
in maintaining our new business and continued success. LendTech
provides the core system that Matrix requires to implement our
correspondent flow program," said Patrick Howard, president and
chief executive officer of Matrix Financial Services Corp. "Since
we'll be utilizing the core system provided by ARC Systems, we are
confident we can provide a competitive edge to our customer base."
"Through the use of our core technology, ARC Systems has enabled
numerous other large banking institutions to achieve their business
objectives for mortgage automation in an efficient and
cost-effective manner," said Ed Jones, president and chief
executive officer of ARC Systems. About ARC Systems Founded in 1984
and headquartered in Austin, Texas, ARC Systems is a privately held
company providing premier decisioning technology to lending
institutions and investment and commercial banks across the United
States. With the power to make fast, accurate and consistent
decisions at the point- of-sale for risk-based pricing and credit
evaluation, ARC Systems' products empower clients to make smart
business decisions. The company's proprietary, patent-pending,
rules-based system is used by lenders to provide direct access to
automated underwriting, product/pricing and online loan origination
system functionality to their customers, correspondents and
brokers. About Matrix Bancorp Matrix Bancorp (NASDAQ:MTXC) is a
unitary thrift holding company headquartered in Denver, Colorado.
Its subsidiaries' operations are conducted primarily in Colorado,
Arizona, Texas and Tennessee. Through its subsidiaries Matrix
Capital Bank and Matrix Bancorp Trading, the company is an active
participant in the capital markets, secondary mortgage markets, and
mortgage servicing market. ARC Systems Media Contact: Michael
Perna, Director of Marketing ARC Systems 512.892.5550 ARC Systems
Product Contact: Steve Jenkins, Vice President of Business
Development ARC Systems 512.892.5550 DATASOURCE: ARC Systems
CONTACT: media, Michael Perna, Director of Marketing, , or product
contact, Steve Jenkins, Vice President of Business Development, ,
both of ARC Systems, +1-512-892-5550 Web site:
http://www.arcsystems.com/
Copyright
Matrix Bancorp (NASDAQ:MTXC)
Historical Stock Chart
Von Aug 2024 bis Sep 2024
Matrix Bancorp (NASDAQ:MTXC)
Historical Stock Chart
Von Sep 2023 bis Sep 2024
Echtzeit-Nachrichten über Matrix Bancorp (NASDAQ): 0 Nachrichtenartikel
Weitere Matrix Bancorp, (MM) News-Artikel