Thursday April 19, 3:16 pm Eastern Time
ARC's AU System Process Record Volume
- Company's LT2k(TM) Helps ARC Surpass Processing Goals -
AUSTIN, Texas, April 19 /PRNewswire/ -- ARC Systems' LT2k, the leading
e-commerce mortgage technology provider's automated underwriting engine,
processed first quarter applications totaling more than $4.5 billion.
first quarter figures equal 50 percent of the $9 billion processed for the
previous calendar year.
As of April 15, applications processed totaled
$755 million, which promises to make April another record setting month.
``These numbers establish ARC Systems' firm position in the mortgage
technology industry,'' said Ed Jones, president and CEO of the company.
is particularly important with the number of technology companies that are
either being sold or closing their doors all together.
establish LT2k as the preferred means for decisioning and processing subprime
In addition to ARC Systems' online WEB based loan origination system
(LOS), LT2k accepts imports from major desktop LOS systems and is being used
by lenders, correspondents, and mortgage brokers.''
All of ARC Systems' clients are ranked within the top 30 percent of the
subprime industry. This includes both advertised clients, as well as OEM
versions of LT2k.
Increases in lender productivity through 30 second decisioning, speed,
accuracy and quality control have facilitated the record producing volumes
being experienced by ARC Systems and their clients.
About ARC Systems
Founded in 1984 as Advanced Resource Computer Systems, Inc., ARC Systems
is a privately held company that provides lending institutions, banks and
credit unions across the nation with the power to make fast, accurate and
consistent decisions at the point-of-sale for risk-based pricing and credit
Empowering financial institutions with the ability to make better
business decisions, the company's proprietary, patent-pending, rules-based
system is used by lenders providing their customers, correspondents and
brokers direct access to automated underwriting and online loan origination
For more information about ARC Systems, contact Mary Tipps at
(512) 892-5550, via email at mtipps@ARCsystems.com, or write the company at
5316 Highway 290 West, Suite 500, Austin, Texas 78735.
The company's Web site
can be viewed at www.ARCSystems.com.
Contact: Ms. Mary Tipps Ms. Charlyne H. McWilliams
ARC Systems for ARC Systems
(512) 892-5550 (301) 933-5567