ByteOnline Now Links Loan Originators Directly to the Web; ByteOnline Users Also Get Access To Fannie Mae's Desktop Originator and Desktop Underwriter on the Web.Business Editors NEW ORLEANS--(BUSINESS WIRE)--March 23, 2000 Byte (BinarY TablE) The common unit of computer storage from desktop computer to mainframe. It is made up of eight binary digits (bits). A ninth bit may be used in the memory circuits as a parity bit for error checking. Enterprises today announced its ByteOnline(TM) loan origination 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. software will link loan originators directly to the Web using real-time loan management tools -- via LoanUPDATE, a complete broker-borrower communication and loan management system. The arrangement means users get a Web-based customer communication network that includes transaction management, offering users full access to managing their pipeline information. "It's all about improving the customer experience for the borrower," says Dale Eisenhart, president of Byte Enterprises. "This alliance with LoanUPDATE means Byte Enterprises has an Internet solution that far exceeds our competitors, because it fully integrates our loan origination software with the Web so borrowers and loan officers can work together while working on their own schedule." ByteOnline users also get the added benefit of accessing Fannie Mae's Desktop Originator Originator A bank, savings and loan, or mortgage banker that initially made a mortgage loan that is part of a pool. Also, an investment bank that has worked with the issuer of a new securities offering from the beginning and is usually appointed manager of the underwriting (R) and Desktop Underwriter underwriter n. a company or person which/who underwrites an insurance policy, issue of corporate securities, business, or project. (See: underwrite) UNDERWRITER, insurances. One who signs a policy of insurance, by which he becomes an insurer. (R) on the Web. Desktop Originator on the Web is a state-of-the-art system tailored to wholesale lending that can help lenders and all their sponsored originators generate more loans, gain a competitive edge in the marketplace, boost their profitability, and enhance their customer service. "With the access to Fannie Mae's automated 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. system, we offer our customers a tremendous advantage and resource," says Eisenhart. "Fannie Mae Fannie Mae: see Federal National Mortgage Association. gives us a very streamlined communication and automated underwriting process -- users can access Fannie Mae products through ByteOnline via the Web." "We are pleased to work with Byte Enterprises to develop this new enhanced interface to Fannie Mae services on the web, said Henry Cason, Fannie Mae's director of e-Business Initiatives. Byte's responsiveness on this project will allow our mutual customers to take advantage of the latest Internet solutions offered by Fannie Mae." With ByteOnline, for as little as $40 per month, per user, a loan originator can access the benefits of The Qualifier qual·i·fi·er n. 1. One that qualifies, especially one that has or fulfills all appropriate qualifications, as for a position, office, or task. 2. Series software (TQS TQS Total Quality Service TQS Television Quatre Saison TQS Throttle Quadrant System (gaming) TQS Total Quality Score TQS Total Quality Selling, Inc. ) from Byte Enterprises, plus the advantages of doing business over the Web. About Byte Enterprises Byte Enterprises, headquartered in Kenmore, Wash., is the fastest growing provider of loan origination software and has been serving the mortgage industry since 1985. The Qualifier Series software (TQS) from Byte Enterprises is used by more than 6,200 companies in the mortgage industry. For more information: www.byteonline.com. About LoanUPDATE LoanUPDATE is the only Internet-based customer communication network for loan originators that includes loan pipeline management - helping mortgage industry professionals work more effectively, while enhancing their personal connections with customers. LoanUPDATE also interfaces with loan origination software, allowing automatic synchronization (1) See synchronous and synchronous transmission. (2) Ensuring that two sets of data are always the same. See data synchronization. (3) Keeping time-of-day clocks in two devices set to the same time. See NTP. of loan application data to and from the Web. LoanUPDATE is the first vertical product from Bellevue, Wash.-based NetUPDATE, Inc. NetUPDATE, Inc. provides vertical markets with online customer communication networks that include transaction management. For more information: www.loanupdate.com. Desktop Originator and Desktop Underwriter are registered trademarks of Fannie Mae. |
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