Monday November 27, 7:01 am Eastern Time
ARC Systems Surpass $1 Billion in the Month of October With LT2k(TM) AU Decisioning System
As the Mortgage Marketplace Consolidates, ARC Systems Stays on Solid Course With Steady Growth
AUSTIN, Texas, Nov. 27 /PRNewswire/ -- ARC Systems, the leading e-commerce
lending technology solution provider, branded ``Best-Of-Breed'' by TOWER Group,
announced today that it passed a Billion-Dollar milestone in monthly loan
application decisioning for October 2000.
``Passing the Billion-Dollar target keeps us on our consistent growth curve
which has increased each of the last 12 months.
We have processed over
$5.5 billion dollars of applications this year with projections in excess of
$7 billion for year-end compared to a total of $1.8 billion last year,'' said
Ed Jones, President and CEO of ARC Systems.
``We are expecting this trend to
maintain its growth pattern as the mortgage marketplace continues to
consolidate and the need for improved efficiencies, consistent decisioning,
and quality control increases.''
ARC Systems customer base includes some of the strongest sub-prime lenders
in the country.
These lenders clearly understand the power of being able to
deliver a consistent, accurate automated underwriting decision in less than 30
ARC Systems LT2k technology benefits a lender's origination platform
and their credit risk department.
The credit risk department sleeps easy at
night knowing that all loans applications are being processed against a
consistent credit benchmark system.
Lenders and originators benefit from the ability to review a consumer loan
application against multiple loan programs, including COMBOS, through the
At the Point-of-Sale originators, using the Optimizer
feature, can re-work customer scenarios and resubmit applications for
underwriting approval within 30 seconds.
Empowering financial institutions to make better business decisions, LT2k
is used by more than 120 lending operations nationwide, including First
Franklin Financial, and Option One Mortgage.
For more information about ARC
Systems, contact Mary Tipps at (512) 892-5550 or email at
The Company's Web site can be viewed at