CitFed Mortgage selects FiTECH for origination and imaging -- $1.5 billion lender to implement MLS and OPTIFi.GREENSBORO, N.C.--(BUSINESS WIRE)--Nov. 4, 1994--FiTECH Systems Lending Division, a Greensboro, N.C.-based provider of software applications and consulting services for lending institutions, announced Friday that CitFed Mortgage, a subsidiary of Citizens Federal Bank, selected its Mortgage Lending System, as well as its new imaging product, OPTIFi. Last year, CitFed Mortgage, based in Dayton, Ohio Dayton is a city in southwestern Ohio, United States. It is the county seat and largest city of Montgomery County. As of the 2005 census estimate, the population of Dayton was 158,873. , originated $1.5 billion in mortgages from its 10 branches located throughout Ohio and Kentucky. "We looked at imaging systems for years, but couldn't find any in the marketplace that were specifically designed for mortgage lending or within our price range," commented Gary Porter Gary Porter is a monster truck driver that races on the USHRA circuit. He is currently a member of the Grave Digger team. History Gary's involvement in monster truck began in 1983 when he and his brother opened Porter's 4x4 Shop in Wadesboro, North Carolina. , vice president of systems for CitFed. "We learned that FiTECH had an imaging product that complimented its origination system and offered us a chance to drastically reduce paper and time in our operations." Chuck Welsh, vice president and manager of sales for FiTECH Lending, addressed the importance of OPTIFi to lending institutions: "OPTIFi was designed to automate and enhance the underwriting, post closing, tracking, auditing and servicing of a loan. With 200 to 300 pieces of paper per closed loan file, OPTIFi is an imaging solution that can greatly increase an institution's efficiency." OPTIFi is an integrated imaging package consisting of IMAGE and REPORTS. OPTIFi IMAGE allows the scanning of paper documents at high speeds to be recalled when needed, either on-screen on·screen or on-screen adj. & adv. 1. As shown on a movie, television, or display screen. 2. Within public view; in public. or as paper hard copy. Multiple windows can display database information along with the actual document. OPTIFi REPORTS replaces microfiche Pronounced "micro-feesh." A 4x6" sheet of film that holds several hundred miniaturized document pages. See micrographics. and allows report information to be accepted and indexed from a variety of computer platforms. Using Microsoft Windows See Windows. (operating system) Microsoft Windows - Microsoft's proprietary window system and user interface software released in 1985 to run on top of MS-DOS. Widely criticised for being too slow (hence "Windoze", "Microsloth Windows") on the machines available then. 3.XTM XTM XML Topic Maps XTM Experimental Test Model , this information can be easily exported to word processing word processing, use of a computer program or a dedicated hardware and software package to write, edit, format, and print a document. Text is most commonly entered using a keyboard similar to a typewriter's, although handwritten input (see pen-based computer) and and spreadsheets. The OPTIFi package can operate on a PC using a 386 or higher microprocessor running Microsoft Windows 3.X. "OPTIFi provides us with the power to process our volume and the flexibility to run in our existing Windows platform," noted Mike Gerwick, vice president of MIS operations for Citizens Federal Bank, F.S.B. "Because FiTECH Lending wrote and customized OPTIFi, it has the look and feel of a tool specifically designed with mortgage processing in mind." CitFed Mortgage will complete the installation of MLS See multilevel security. in its Dayton branch by November, and plans to have MLS in the other branches by the end of the year. Installation of OPTIFi is also underway in the Dayton branch. FiTECH Systems Lending Division is a fully autonomous operating unit operating unit A type of operating company that engages in transactions with outsiders and that is owned by another business. For example, in 1995 the stockholders of Capital Cities/ABC approved a $19 billion merger with the Walt Disney Company, whereupon of FiTECH Systems Inc., a major provider of software applications and consulting services for financial institutions nationwide. Headquartered in Greensboro, FiTECH Lending develops, installs and supports mortgage lending processing and database systems that track, qualify and perform all mortgage functions. FiTECH Lending's flagship product, Mortgage Lending System, is a complete mortgage application used by more than 150 financial institutions and over 20,000 customers across the country. For more information on OPTIFi and FiTECH Lending, write Chuck Welsh, Vice President and Manager of FiTECH Systems Lending Division, 706 Green Valley Rd., Suite 300, Greensboro, NC 27408, or call 800/753-6633 ext. 462. CONTACT: William Mills Agency, Atlanta Scott Mills, 404/261-4900 |
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