AUSTIN, Texas, April 4 /PRNewswire/ -- ARC Systems, the leading mortgage
technology application service provider, announced the completion of its first
phase in implementing automated underwriting and business process management
technology for MLSG Home Loans (MLSG, Inc.) of Reno, Nevada. ARC Systems'
flagship product, LendTech(TM) Mortgage, will be used by MLSG, Inc. for loan
origination, automated underwriting, and business process management. The
solution will also include customized functionality to allow MLSG, Inc. to
interface with their servicing and document systems and even their accounting
systems using the LendTech Mortgage system.
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
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
"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.
Michael Perna, Director of Marketing and Creative