Chase Implements WAN-Based Mortgage Processing System.CLEVELAND--(BUSINESS WIRE)--Feb. 1, 1995--Chase Manhattan Mortgage Holding recently completed a large-scale implementation of the UNI-FORM version 6.0 Mortgage Loan Processing System by ASC ASC Ambulatory surgery center, see there . Several Chase mortgage lending businesses have already implemented UNI-FORM, including Chase Manhattan Mortgage Corp. (Tampa, FL) and Chase Personal 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. (New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , NY). Chase implemented UNI-FORM 6.0 because it needed a system with distributed processing The first term used to describe the distribution of multiple computers throughout an organization in contrast to a centralized system. It started with the first minicomputers. Today, distributed processing is called "distributed computing." See also client/server. capabilities. Distributed processing enables Chase's mortgage origination offices to share loan data with support offices in real-time across their wide area network (WAN). UNI-FORM enables residential mortgage lenders to automate all aspects of mortgage loan origination. In addition, it contains a core set of system parameters whereby financial institutions can design and customize lending screens, forms, fields, data interchange parameters and workflow according to their particular needs. When asked to give some reasons why Chase Personal Financial Services (PFS PFS, n post facilitation stretch; therapeutic approach utilized during proprioceptive neuromuscular facilitation in which the patient begins the stretch midway between the fully relaxed and fully stretched position and uses maximum level of effort to ) selected UNI-FORM, Chase Vice President, Carmelo Macannuco responded, "Before implementing UNI-FORM, we were processing loans using several processes. Now it's a single process. UNI-FORM gives us the ability to modify documents easily and quickly right to the last moment before a closing. This is a tremendous improvement." The many branches of Chase Manhattan Mortgage Corp. and Chase Personal Financial Services required connecting 65 LANs on a WAN. The Chase PFS WAN utilizes Frame Relay connection services to link LANs and provide real-time, shared data. Frame Relay connections provide a more affordable solution, but Frame Relay networks require a CIR (Committed Information Rate) In a frame relay network, the average transmission rate in bits per second (typically Kbps) for a virtual circuit. It defines the maximum rate that the network can handle under normal conditions. (committed information rate (communications) Committed Information Rate - (CIR) The guaranteed average bandwidth of a virtual circuit in a frame relay network. The CIR plus the Excess Information Rate (EIR, burst rate) is equal to or less than the speed of the access port into the network. ) agreement on the maximum amount of data the carrier guarantees it will transfer over its network. "Large lenders need a system with the distributed processing capabilities of UNI-FORM," said Tim Liston, president of ASC. "UNI- FORM performs best as an enterprise wide solution. This is where our software really differentiates itself from other packages." ASC is a leading provider of computer software and support services support services Psychology Non-health care-related ancillary services–eg, transportation, financial aid, support groups, homemaker services, respite services, and other services for the lending industry, and is one of the most experienced major vendors of computer software for all types of lending institutions. Clients include commercial banks, credit unions, thrifts, mortgage companies and service bureaus across the United States. For more information on Associated Software Consultants Inc. (ASC) or UNI-FORM contact Martin Catalano, Marketing Director, at 800/628-4687. Or write Associated Software Consultants Inc., 7251 Engle Rd., Middleburg Heights, OH 44130. CONTACT: Chase Personal Financial Services, New York Carmelo Macannuco, 212/552-5691 or William Mills Agency, Atlanta Kelly Williams, 404/261-4900 |
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