Contour Now Provides Access to Desktop Origination, Desktop Underwriter on the Web.Business Editors NEW ORLEANS--(BUSINESS WIRE)--March 23, 2000 Mortgage Banking Conference Customers have alternative connection option Contour Software Inc., a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of The First American First American may refer to:
See: New York Stock Exchange :FAF FAF abbr. financial aid form ), announced today here at the Mortgage Bankers Association of America's National Technology in Mortgage Banking Conference the development of a new interface between its 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, The Loan Handler, and Fannie Mae's Desktop Originator and Desktop Underwriter on the Web. Users of The Loan Handler now will have real-time access to Desktop Originator through Fannie Mae's new mortgage broker-orientated solution, Desktop Originator on the Web. Prior to this interface, The Loan Handler users only had access to Desktop Originator through Fannie Mae's value-added network A communications network that provides services beyond normal transmission, such as automatic error detection and correction, protocol conversion and message storing and forwarding. Telenet and Tymnet are examples of value-added networks. , MORNETPlus. "Our customers are quickly moving to our e-commerce solutions that are based solely on the Internet," said Scott Cooley, president of Contour Software. " We're delighted to work with Fannie Mae Fannie Mae: see Federal National Mortgage Association. to better serve our mutual customers. We expect our customers to be able to take advantage of this significant development by April. "Fannie Mae has taken another positive step toward providing lenders and loan originators with access to its products and services on the Web. Contour is happy to act as a conduit in the process," he added. Contour customers will be able to access Desktop Underwriter and Desktop Originator on the Web through The Loan Handler by clicking on the new EDI (Electronic Data Interchange) The electronic communication of business transactions, such as orders, confirmations and invoices, between organizations. Third parties provide EDI services that enable organizations with different equipment to connect. icon labeled "Desktop Originator on the Web." In addition, Contour has greatly improved the interface to Desktop Underwriter by incorporating several customer suggestions from the previous interface. Mortgage originators now will have better access to Desktop Underwriter - still accessible through sponsorship agreements with lenders - via the Internet. "We are pleased with Contour's fast turnaround in developing a much-improved version of their interface to Desktop Originator and Desktop Underwriter," said Henry Cason, Fannie Mae's director of e-business initiatives. "Contour's dedication in working with us will allow their customers to take advantage of the latest developments from Fannie Mae." About First American Financial The First American Financial Corporation, based in Santa Ana Santa Ana, city, El Salvador Santa Ana (sän'tä ä`nä), city (1993 pop. 129,873), W El Salvador. It is the second largest city in the country and the commercial and processing center for a sugarcane, coffee, and cattle region. , Calif., is the nation's leading provider of business information and related products and services. The corporation's three primary business segments include: title insurance and services; real estate information and services, which includes mortgage information services See Information Systems. and database information and services; and consumer information and services, which provides home warranties; automotive, subprime and direct-to-consumer credit reporting; property and casualty insurance; property and automotive insurance tracking services; resident screening; pre-employment screening; lender-placed flood and hazard insurance Hazard Insurance Insurance protecting a property owner against damages caused by fires or severe storms. If the owner lives in an area that is prone to natural disasters, like earthquakes and floods, he or she may need a separate policy. ; investment advisory; and trust and banking services. Information about the company and an archive of its press releases can be found on the Internet at www.firstam.com. About Contour Software, Inc. Founded in 1982, Contour Software offers practical solutions for the mortgage loan finance industry. The company's flagship product, The Mortgage Banking Series, is a complete line of software products for every facet of mortgage lending, from qualification to servicing. With a customer base of 40,000 active seat licenses, Contour Software is a technology leader with the most complete line of software products and the most electronic commerce connections in the industry. Customers include mortgage bankers, mortgage originators, credit unions, commercial banks and savings institutions. A direct, wholly owned subsidiary of The First American Financial Corporation, Contour has 130 employees and 45 additional sales representatives located across the United States. For more information, contact Scott Cooley, president, Contour Software Inc., 700 West Hamilton, Campbell, CA 95008-0403, call 800-CONTOUR (800-266-8687) or visit www.contoursoft.com, www.mtgloan.com, www.lenderdirectory.com or www.processloan.com. User contacts and case studies are available upon request. |
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