ASC and ULTRAPRISE.COM Collaborate to Bring Powerful Internet Solution to the Secondary Market.Business Editors & Technology Writers MBA MBA abbr. Master of Business Administration Noun 1. MBA - a master's degree in business Master in Business, Master in Business Administration Technology Conference NEW ORLEANS--(BUSINESS WIRE)--March 23, 2000 Web-based secondary market exchange to employ XML-based capabilities of PowerSeller Associated Software Consultants, Inc. (ASC ASC Ambulatory surgery center, see there ) announced today that it has signed an agreement with Ultraprise Corp. to enable ASC's PowerSeller Secondary Marketing System to automatically post loans for sale and purchase on ULTRAPRISE.COM (1) (Computer Output Microfilm) Creating microfilm or microfiche from the computer. A COM machine receives print-image output from the computer either online or via tape or disk and creates a film image of each page. , the premier secondary market mortgage exchange. ULTRAPRISE.COM and ASC's PowerSeller will employ XML XML in full Extensible Markup Language. Markup language developed to be a simplified and more structural version of SGML. It incorporates features of HTML (e.g., hypertext linking), but is designed to overcome some of HTML's limitations. messaging capabilities to transfer data and messages between the PowerSeller System and buyers on ULTRAPRISE.COM, a secure, real-time trading exchange for the mortgage secondary market. Implementation of PowerSeller will take place in three phases, with initial installation taking place as early as May 31, 2000. Phases 2 and 3, which include enhanced integration and real-time update capability with XML messaging, will be completed in July and October, respectively. By October, PowerSeller clients will be able to receive XML-based messages from investors on ULTRAPRISE.COM that will permit automated pooling of loans based on investor criteria. "ASC is very excited with the alliance between our industry-leading technologies," said ASC President Tim Liston. "Both ULTRAPRISE.COM and PowerSeller individually represent existing solutions for today's secondary marketers. This agreement continues to solidify so·lid·i·fy v. so·lid·i·fied, so·lid·i·fy·ing, so·lid·i·fies v.tr. 1. To make solid, compact, or hard. 2. To make strong or united. v.intr. our leadership positions within the industry." As participants in the Mortgage Industry Standards Maintenance Organization (MISMO MISMO Mortgage Industry Standards Maintenance Organization MISMO Maintenance Interservice Support Management Office ) (http:\\www.mismo.org), both Ultraprise Corporation and ASC will share their XML message specifications with the MISMO Secondary Process Workgroup to have these specifications reviewed and ratified rat·i·fy tr.v. rat·i·fied, rat·i·fy·ing, rat·i·fies To approve and give formal sanction to; confirm. See Synonyms at approve. as industry standard. "This alliance strengthens our commitment to provide our clients with the most effective and robust exchange of global financial assets Financial assets Claims on real assets. through a combination of innovation, technology and service," said Kathryn Kelbaugh, Ultraprise Corporation's senior vice president of platform strategy and development. "With one click, pools can be posted from a trader's desktop for immediate sale into the secondary market." PowerSeller is a comprehensive secondary marketing/risk management/data handling system composed of the Data Manager, Shipping Manager (document tracking), Secondary Manager, Risk Manager and AppRunner(TM). PowerSeller may be used with a variety of relational databases relational database Database in which all data are represented in tabular form. The description of a particular entity is provided by the set of its attribute values, stored as one row or record of the table, called a tuple. . About Ultraprise Corporation Ultraprise Corporation is the leading provider of business-to-business e-commerce solutions for the financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. industry. ULTRAPRISE.COM brings together mortgage companies, banks, thrifts, Wall Street investors and others to efficiently buy and sell loan pools online, resulting in streamlined business processes, enhanced productivity and reduced costs. Learn more about the secondary market mortgage exchange at www.ultraprise.com. About ASC ASC's software systems include the PowerSeller and the UNI-FORM Loan Processing System, which has been helping lenders grow since 1978. ASC is also a leading-edge help center providing 24-hour, seven-day-a-week system support. ASC also performs system integration and related services. For more information about ASC, contact Tim Liston, tim@asconline.com, at 1-800-628-4687, or contact Associated Software Consultants at 7251 Engle Road, Suite 300, Middleburg Heights, OH 44130. Visit the ASC Web site at www.asconline.com. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion