American Guardian Partners with Commerce Velocity to Provide Automated Decisioning Tools to Brokers; Wholesale Lender Accelerates POS Process for Its Broker Network.LAKE FOREST, Calif. -- American Guardian Home Loans, a wholesale mortgage lender serving broker and homebuilder originations for Alt-A and nonprime products, has partnered with Commerce Velocity, Inc., a Web-based business automation provider specializing in the mortgage industry, to deliver fully automated au·to·mate v. au·to·mat·ed, au·to·mat·ing, au·to·mates v.tr. 1. To convert to automatic operation: automate a factory. 2. loan processing services for American Guardian brokers using Commerce Velocity's CQ BrokerConnect(TM). American Guardian selected Commerce Velocity in response to demand from its brokers for a more efficient, faster way to obtain loan approval, identifying speed as the key to capturing business and maintaining its position in the industry. "American Guardian recognizes the increasing demand for point of sale service from our broker network and responding to their needs is our main priority," said Kamran Khosravi, president of American Guardian. "Commerce Velocity offers the scalable functionality that will instantly deliver pricing, pre-qualification and full AU approvals to our brokers within seconds. In turn, American Guardian will generate more volume at a lower cost of originations and offer the customer service benefits of rapid and accurate responses for our brokers." Commerce Velocity's CQ BrokerConnect(TM) combines three loan-decisioning elements -- qualifying, credit evaluation and underwriting Underwriting 1. The process by which investment bankers raise investment capital from investors on behalf of corporations and governments that are issuing securities (both equity and debt). 2. The process of issuing insurance policies. -- into one portal, which significantly reduces loan-processing times and increases productivity by performing all decisioning services automatically in one place. "We're excited to have been selected by American Guardian to provide it with a technology to help make them a stronger competitor in the wholesale lending arena," said Umesh Verma CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. and cofounder co·found tr.v. co·found·ed, co·found·ing, co·founds To establish or found in concert with another or others. co·found of Commerce Velocity. "Through our partnership, the brokers at American Guardian will quickly and efficiently offer their customers the best priced loan available." About Commerce Velocity Founded in 2000 and headquartered in Irvine, Calif., Commerce Velocity Inc., develops Web-based business automation solutions to the mortgage lending industry. Commerce Velocity's suite of solution software increases productivity, profitability and risk management via automation of the lending process. The suite includes intelligent lead distribution and management, pricing and pre-qualifications, application processing, credit management, automated underwriting and fulfillment ful·fill also ful·fil tr.v. ful·filled, ful·fill·ing, ful·fills also ful·fils 1. To bring into actuality; effect: fulfilled their promises. 2. . For more information, visit www.cvelocity.com or call 714-338-7140. About American Guardian Orange County-based American Guardian Home Loans is a wholesale mortgage lender serving broker and homebuilder originations for Alt-A and nonprime products. The company was founded in 1998 and serves its brokers and homebuilder partners with an emphasis on meeting their needs and serving rather than selling. Now licensed in Arizona Arizona (âr'əzō`nə), state in the southwestern United States. It is bordered by Utah (N), New Mexico (E), Mexico (S), and, across the Colorado R., Nevada and California (W). , California California (kăl'ĭfôr`nyə), most populous state in the United States, located in the Far West; bordered by Oregon (N), Nevada and, across the Colorado River, Arizona (E), Mexico (S), and the Pacific Ocean (W). , Colorado, Hawaii, Idaho, New Mexico New Mexico, state in the SW United States. At its northwestern corner are the so-called Four Corners, where Colorado, New Mexico, Arizona, and Utah meet at right angles; New Mexico is also bordered by Oklahoma (NE), Texas (E, S), and Mexico (S). , and Oregon, American Guardian has deepened its industry reputation and broadened its outreach Outreach is an effort by an organization or group to connect its ideas or practices to the efforts of other organizations, groups, specific audiences or the general public. to brokers on a national scope. American Guardian provides a full complement of Alt-A and nonprime loan products through its wholesale division. The lender also handles A-paper through its homebuilders division. For more information, visit www.amguardian.com. |
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