Access Business Technologies Helps Financial Institutions Grow Mortgage Operations With Comprehensive Loan Servicing ASP Solution.Business Editors MATHER, Calif.--(BUSINESS WIRE)--Aug. 8, 2002 Travis Credit Union, Franklin Credit and others see cost savings and improved service through e-sourcing mortgage servicing Mortgage servicing The collection of monthly payments and penalties, record keeping, payment of insurance and taxes, and possible settlement of default , involved with a mortgage loan. operations Mather, California-based Access Business Technologies (ABT ABT About ABT Abteilung (German: Department) ABT Abbott Laboratories (stock symbol) ABT American Ballet Theatre ABT Associação Brasileira de Telemarketing ABT Abort ABT Availability Based Tariff ), an Application Service Provider (ASP asp, popular name for several species of viper, one of which, the European asp (Vipera aspis), is native to S Europe. It is also a name for the Egyptian cobra (Naja haja). ) for the mortgage loan servicing Loan servicing is the process by which a mortgage bank or subservicing firm collects the timely payment of interest and principal from borrowers. The level of service varies depending on the type loan and the terms negotiated between the firm and the investor seeking their services. industry, announced its e-source solutions, which aid financial institutions in accelerating the growth and efficiency of their mortgage servicing operations. E-source solutions are Web-enabled services that bundle multiple applications, such as servicing, accounting and imaging systems. ABT's offering is unique because it provides all the systems needed for loan servicing operations through a secured Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the connection, and does so with an advanced workflow The automatic routing of documents to the users responsible for working on them. Workflow is concerned with providing the information required to support each step of the business cycle. capability. By bundling multiple applications and introducing workflow, mortgage servicing operations can greatly enhance their overall efficiency. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. one ABT customer, their company has been able to increase the average number of loans serviced to more than 1,000 per employee. Within one 18-month period, this customer successfully increased the number of loans serviced from around 15,000 to 120,000 while decreasing their staffing by 36 percent. "One of the more compelling benefits of the e-source solution is that the users log into one secure system which provides real-time access to information from multiple applications," said Vice President of Sales and Marketing Scott Faulds. "The results our clients are seeing include the elimination of paper-dominated processes, streamlined loan operations, reduced IT costs - all of which translate into huge cost savings." ABT manages a data center in Mather, Calif., which includes advanced security, data back up, redundant systems and even a call center available to customers as a part of its disaster recovery or Business Continuity Program. ABT is a vendor neutral software provider and works with its customers to determine the best mix of technology needed for their operations. Justin Kirsch kirsch n. A colorless brandy made from the fermented juice of cherries. [French, short for German Kirschwasser; see kirschwasser. , President of ABT said, "We analyzed an·a·lyze tr.v. an·a·lyzed, an·a·lyz·ing, an·a·lyz·es 1. To examine methodically by separating into parts and studying their interrelations. 2. Chemistry To make a chemical analysis of. 3. the way mortgage servicing centers used technology, introduced workflow capabilities and system integration within this environment, which ultimately enabled our customers to reengineer how the department worked." ABT has helped mortgage operations implement fully integrated imaging systems with loan servicing systems. Documents are typically indexed and associated with the appropriate loans, so servicing professionals can easily find, sort, and view loan documents. Imaging also enables companies to send the digital documents to remote offices via secure e-mail, thereby eliminating significant costs associated with courier A monospaced typeface originating from the typewriter that is commonly used for letters. It is still considered by many to be the "appropriate" typeface for business correspondence. and express shipping. About ABT ABT provides Web-based business solutions, also known as e-business solutions, to lenders and loan servicing companies in the form of a flexible, open database system, rather than the traditional closed, mainframe design. ABT offers flexible technology, with its core offering of software hosting, private brand services, business continuity (disaster recovery) and private brand continuity. By providing customers with proprietary software products, ABT serves as a gateway to Web-based technologies that help institutions improve customer service. For additional information about Access Business Technology, or its loan servicing product line, contact Scott Faulds at 916-779-2260, or email scott@abtservicing.com. Visit ABT's Web site at www.abtservicing.com. |
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