Columbia River Bank's New Servicing System Helps Increase Loan Volume By 200 Percent.Business Editors SACRAMENTO, Calif.--(BUSINESS WIRE)--Sept. 17, 2002 Access Business Technologies offers Web-enabled application with advanced workflow capability to help banks grow mortgage divisions Access Business Technologies (ABT ABT About ABT Abteilung (German: Department) ABT Abbott Laboratories (stock symbol) ABT American Ballet Theatre ABT Associação Brasileira de Telemarketing ABT Abort ABT Availability Based Tariff ), a niche Application Service Provider (ASP) for the mortgage loan servicing Loan servicing is the process by which a mortgage bank or subservicing firm collects the timely payment of interest and principal from borrowers. The level of service varies depending on the type loan and the terms negotiated between the firm and the investor seeking their services. industry, announced Columbia River Columbia River River, southwestern Canada and northwestern U.S. Rising in the Canadian Rockies, it flows through Washington state, entering the Pacific Ocean at Astoria, Ore.; it has a total length of 1,240 mi (2,000 km). Bank, a community bank in The Dalles dalles pl.n. The rapids of a river that runs between the steep precipices of a gorge or narrow valley. [French, pl. of dalle, gutter, from Old French, from Old Norse dæla.] , Oregon, implemented its Web-enabled application PowerCore. PowerCore is a loan servicing system that bundles multiple applications, such as servicing, accounting and imaging systems into a single Web browser The program that serves as your front end to the Web on the Internet. In order to view a site, you type its address (URL) into the browser's Location field; for example, www.computerlanguage.com, and the home page of that site is downloaded to you. . ABT's product is unique because it provides all the functionality needed for loan servicing, with advanced workflow capability in an easy-to-use application. "We needed a servicing system with a consistent look and feel that was also flexible and could assist with the implementation of servicing," said Columbia River Bank's Real Estate Servicing Manager, Jennifer Ringlbauer. "Columbia River was already working with ABT partner Interlinq for originations, and needed a flexible and reliable servicing system. Interlinq suggested that we look at ABT's PowerCore servicing system. After the bank assessed PowerCore, we were sold on purchasing the product." ABT's PowerCore includes a customized workflow application A workflow application is where various applications, components and people must be involved in the processing of data to complete an instance of a process. For example, consider a purchase order that moves through various departments for authorization and eventual purchase. that enables banks to better manage complex loans in a deadline-oriented environment. Ultimately banks can reengineer how their departments will work which saves them servicing time and allows their staff to be more productive. 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. ABT President and 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. Justin Kirsch kirsch n. A colorless brandy made from the fermented juice of cherries. [French, short for German Kirschwasser; see kirschwasser. , by reengineering business processes and workflows, and aligning them technological capabilities, banks and other lenders will yield greater efficiencies and productivity because they now have the ability to adjust workflows to fit their unique needs, or according to its loan volumes. "It really makes the process of servicing loans easier and much more cost effective because the processes have been reduced," Kirsch said. "In one year," Ringlbauer added, "we have increased loan volumes by 200 percent. We have already secured a significant return on our investment." PowerCore also provides a user-friendly payment process, tracking screens with complete and detailed information to eliminate toggling from screen to screen and delinquent tracking, with all the necessary collections information on one screen. ABT is a "vendor neutral" solution provider. The company works with customers to determine the best mix of technology needed and help them avoid the expense investment of initial hardware costs. About Columbia River Bank Columbia Bancorp (www.columbiabancorp.com) is the financial holding company for Columbia River Bank, which operates 16 branches located in The Dalles (2), Hood River, Bend (2), Madras, Redmond, Pendleton, Hermiston, McMinnville (3), Canby and Newberg, Oregon, and in Goldendale and White Salmon, Washington White Salmon is a census-designated place (CDP) in Klickitat County, Washington, United States. The population was 2,193 at the 2000 census. History White Salmon was officially incorporated on June 3, 1907. . To supplement its community banking services, Columbia River Bank also provides mortgage-lending services through its Columbia River Bank Mortgage Group and brokerage services through its affiliations CRB CRB See: Commodity Research Bureau. Financial Services. For additional information about Columbia River Bank, contact Jennifer Ringlbauer at 541.298.3195, or email jringlbauer@columbiariverbank.com. Visit Columbia River Bank's Web site at www.columbiariverbank.com. About ABT ABT provides Web-based business solutions, also known as e-business solutions, to lenders and loan servicing companies in the form of a flexible, open database system, rather than the traditional closed, mainframe design. ABT offers flexible technology, with its core offering of software hosting, private brand services, business continuity (disaster recovery) and private brand continuity. By providing customers with proprietary software products, ABT serves as a gateway to Web-based technologies that help institutions improve customer service. For additional information about Access Business Technology, or its loan servicing product line, contact Scott Faulds at 916.779.2260, or email scott@abtservicing.com. Visit ABT's Web site at www.abtservicing.com. |
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