American Home Mortgage Selects Loansoft as Point-of-Sale Solution.Business Editors ATLANTA--(BUSINESS WIRE)--March 13, 2002 Loansoft, a provider of automation software for the mortgage industry, announced that American Home For the American mortgage lender, see . The American Home is a center of intercultural exchange located in Vladimir, Russia. The home is designed to model a typical American suburban home and its main focus is the ESL school that provides lessons for Russian students. Mortgage Holdings, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : AHMH AHMH American Home Mortgage Holdings, Inc. ), one of the nation's largest independent retail mortgage bankers Mortgage Banker A company, individual or institution that originates, sells and services mortgage loans. Notes: Don't confuse a mortgage banker with a mortgage broker. , has selected its point-of-sale solution, LS Agent, to automate its 67 branch offices across the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. as well as its three MortgageSelect.com call centers. LS Agent is one module in Loansoft's Studio suite of products. 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. Scott Berry, senior vice president of Strategic Technologies at American Home, the company did an exhaustive search of several different software vendors' solutions before selecting Loansoft's Studio system. "American Home has almost 600 loan officers, and we needed a solution that could work in a retail environment and in our call centers. The system also needed to integrate with our Fiserv UniFi(R) PRO mortgage processing system. Flexibility was also important. Many of the systems we saw had out-of-the-box functionality but no flexibility. With Loansoft we have both. We can easily tailor the application using LS Workshop to meet our needs because of the system's architecture. "The LS Studio application allows us to modify screens, scripts, workflow and numerous other items within the system. We needed a solution that worked with our traditional retail loan officers using laptop computers as well as our networked MortgageSelect.com call center agents. Loansoft has the ability to synchronize See synchronization. the data so everyone is able to have the same up-to-date information and that was necessary for our business acumen." The Loansoft Studio suite is a complete, integrated mortgage origination system and offers several different modules that can be added to the system as needed as needed prn. See prn order. . When all modules of the Studio suite are used together, a company can automate all mortgage origination functions, from point-of-sale to closing. Studio is also customizable; all screens, screen order and flow, tabs, menus, toolbars, etc. can be easily modified to fit any institution. "Being able to tailor Loansoft's point-of-sale module to meet our unique needs was a key differentiator between Loansoft and some of its competitors," said Paul Knag n. 1. A knot in wood; a protuberance. 2. A wooden peg for hanging things on. 3. The prong of an antler. 4. The rugged top of a hill. executive vice president of production at MortgageSelect.com. Loansoft Chief Operations Officer C.C. Miller said, "American Home Mortgage is well respected in the mortgage industry, and gaining its business is a true testament to the functionality and flexibility of the LS Studio suite. AHMH had some functional requirements See information requirements and functional specification. (specification) functional requirements - What a system should be able to do, the functions it should perform. that I knew only our product could handle such as being able to personalize the product. We are honored to have been selected to partner with them to offer a completely integrated solution." The initial rollout is scheduled for the end of the first quarter of 2002. About MortgageSelect.com MortgageSelect.com is the Internet division of American Home Mortgage Corp. Launched in 1999, MortgageSelect.com continues to lead the industry in online technology and service. MortgageSelect.com acquires customers on a variable cost model through private labeling, co-branding partnerships, and over 3,000 affiliates. MortgageSelect.com supports three call centers located on both coasts and is currently ranked as one of the top Internet mortgage lenders by National Mortgage News. About American Home Mortgage American Home Mortgage Holdings (Nasdaq: AHMH) is a leading independent retail originator of residential mortgage loans both online and offline. Its online operation, MortgageSelect.com is a leader in online closed loan volume, and has outperformed its online competitors in terms of profitability. Offline, the Company has grown organically and by acquisition and now has 67 community loan offices across the country. For more information please visit its Web site at www.mortgageselect.com. About Loansoft Loansoft Inc., founded in 1993 and headquartered in Berkeley, California Berkeley is a city on the east shore of San Francisco Bay in Northern California, in the United States. Its neighbors to the south are the cities of Oakland and Emeryville. To the north is the city of Albany and the unincorporated community of Kensington. , is the exclusive provider of the LS Studio suite of automation software solutions for the residential mortgage industry. The suite of products automates all mortgage origination functions from point-of-sale to closing. Loansoft also provides development tools that allow lenders to customize virtually any part of LS Studio. Today, the privately held company privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. works with three of the top five mortgage lenders in the United States representing more than 10,000 software users. For more information on Loansoft, Inc. and its mortgage origination solutions contact Loansoft at 2930 Shattuck Avenue, Suite 206, Berkeley, CA 94705, call 510.647.1700, or email sales@loansoft.com. Visit its Internet site at www.loansoft.com. |
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