Phase one of the project is customizing LendTech Mortgage to MLSG, Inc.'s specific requirements. This includes setting up MLSG, Inc.'s underwriting guidelines, pricing matrices, business process management and extended document and accounting systems functionality for use internally across their VPN. Phase two will enable functionality over the web, allowing preferred brokers to submit applications across the internet using a Web browser.
"We are very excited to see the first phase complete," said Ed Gormastic, President and CEO of MLSG, Inc. "We were assured ARC Systems was the right choice when they arranged a trip to our site to work side-by-side with our staff to study our workflow and create a customized business process management model for our implementation of their LendTech Mortgage technology. It's great to see that kind of service and flexibility in a product and a company."
A unique feature added to MLSG, Inc.'s implementation of LendTech Mortgage was the ability to underwrite combo loans. "This functionality allows a client to request an 80/20 or 80/15 loan product over the Web," said Ed Jones, President and CEO of ARC Systems. "The system processes and automatically underwrites the combo loan as two separate loans, but ties the two together so they can utilize redundant information and underwrite in parallel in less than 30 seconds.
"A lender's ability to stay competitive in this market will rely greatly on their ability to embrace technology and utilize its capabilities to eliminate inefficiencies and inconsistencies in the life of the loan," added Jones. "We are allowing our customers to do just that and in the process we are redefining what a loan origination system can and should be."
About MLSG, Inc.
Founded in 1990, MLSG is a leading residential mortgage banking company offering a broad range of home financing alternatives for all credit grades from A1 through C2. MLSG processes and funds alternative/non-conforming mortgages that are submitted through a national network of approved mortgage brokers. Competitive rates, progressive underwriting guidelines and a new streamlined loan process allows MLSG to quickly provide mortgage funds for borrowers with credit history problems or difficult to verify income, bringing alternative financing solutions to many that would otherwise be unable to obtain home loans.
MLSG, Inc. is a privately held Nevada corporation. Our national loan center and corporate headquarters is located in Reno, Nevada.
About ARC Systems
Founded in 1984, ARC Systems is a privately held company that provides lending institutions, investment and commercial banks across the nation with the power to make fast, accurate and consistent decisions at the point-of-sale for risk-based pricing and credit evaluation. Empowering financial institutions with the ability to make better business decisions, the company's proprietary, patent-pending, rules-based system is used by lenders to provide their customers, correspondents and brokers direct access to automated underwriting and online loan origination system functionality.
Contact: Michael Perna, Director of Marketing and Creative ARC Systems firstname.lastname@example.org 512.892.5550