ASC's PowerLender Implemented by Webster Financial Corporation; Provides Front-End Loan-Origination Infrastructure to Boost its Lending Capabilities.SAN DIEGO San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. -- Associated Software Consultants, Inc. (ASC ASC Ambulatory surgery center, see there ), a provider of loan automation software to financial institutions, announced today at the MBA's National Technology in Mortgage Banking Conference & Expo that Waterbury, Conn.-based Webster Financial Corp. (NYSE NYSE See: New York Stock Exchange :WBS WBS - Work Breakdown Structure ), the holding company for Webster Bank N.A., has implemented PowerLender(R) 2.2, ASC's Java-based loan origination system (LOS). Webster Financial (assets $17.8 billion), a provider of business and consumer banking, mortgage, insurance, financial planning Financial planning Evaluating the investing and financing options available to a firm. Planning includes attempting to make optimal decisions, projecting the consequences of these decisions for the firm in the form of a financial plan, and then comparing future performance against , trust and investment services, became operational with the PowerLender system in December 2005. "ASC's integrated loan framework provides our front end with a seamless process from origination to closing for each loan application," said John Kershner, senior vice-president and chief technology officer at Webster. "PowerLender is easy to use and its flexibility allowed us to customize the way we process mortgage and consumer loans, boosting our lending capabilities." "PowerLender combines flexibility and comprehensive features such as workflow management and remote document delivery that can change the way many lenders do business," said Tim Liston, president of ASC. "PowerLender helps customers originate, underwrite, process, close and fund mortgages, increasing long-term cost savings and profitability." PowerLender's unique flexibility not only allows financial institutions to customize the way they process loans, but it can also run on a variety of operating systems including Linux and Windows, and databases including MySQL, Oracle and MS-SQL. About Webster Financial Corp. Webster Financial Corporation is the holding company for Webster Bank, National Association and Webster Insurance. With $17.8 billion in assets, Webster provides business and consumer banking, mortgage, insurance, financial planning, trust and investment services through 157 banking offices, 304 ATMs, telephone banking and the Internet. Webster Bank owns the asset-based lending Asset-Based Lending A business loan secured by collateral (assets). The loan, or line of credit, is secured by inventory, accounts receivable and/or other balance-sheet assets. Also known as "commercial finance" or "asset-based financing". firm Webster Business Credit Corp., the insurance premium finance company Budget Installment Corp., Center Capital Corp., an equipment finance company headquartered in Farmington, Conn. and provides health savings account A Health Savings Account (HSA) is a tax-advantaged medical savings account available to taxpayers in the United States who are enrolled in a High Deductible Health Plan (HDHP). The funds contributed to the account are not subject to federal income tax at the time of deposit. trustee and administrative services through HSA HSA Health Savings Account (US) HSA Human Serum Albumin HSA Human Services Agency (Nevada) HSA Health Services Agency HSA Health and Safety Authority (Ireland) Bank, a division of Webster Bank. For more information go to www.websteronline.com. About Associated Software Consultants Associated Software Consultants, Inc. (ASC) develops and markets loan automation software for use by mortgage banks, commercial banks, community banks and credit unions. ASC's business strategy focuses on providing software and support services support services Psychology Non-health care-related ancillary services–eg, transportation, financial aid, support groups, homemaker services, respite services, and other services that enable lenders to improve the volume and quality of their business, streamline workflow and reduce costs. The company's lending solutions enhance secondary marketing operations, improve overall profitability and better serve borrowers, investors, real estate brokers, third-party service providers and other constituents. For additional information about ASC, visit the company's Web site at www.asconline.com. |
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