Cypress Software Speeds Automotive Financing Process through DealerTrack.Cypress' Mark IV Consumer Loan Automation Software Now Interfaces with DealerTrack's Automotive Financing Network NORTH RICHLAND HILLS, Texas North Richland Hills is a city in Tarrant County, Texas, United States. The population was 55,635 at the 2000 census. In 2006, North Richland Hills was selected as the one of the "Top 100 Best Places to live in America" according to Money magazine. -- Cypress Cypress, city, United States Cypress (sī`prəs), city (1990 pop. 42,655), Orange co., S Calif. near Long Beach; inc. 1956. Forest Lawn–Cypress, a branch of the famous cemetery in Glendale, Calif. Software Systems LP has developed a software interface that connects DealerTrack's automotive financing software and dealer network with Cypress' Mark IV consumer loan automation software. DealerTrack allows auto dealers to seamlessly submit an applicant's loan information to financial institutions using Mark IV. Mark IV, then, automatically sends the application through credit review and 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. , enacts the institution's loan policies and returns a loan decision to the dealer - via DealerTrack - within seconds. Tony Davenport Davenport, city (1990 pop. 95,333), seat of Scott co., E central Iowa, on the Mississippi River; inc. 1836. Bridges connect it with the Illinois cities of Rock Island and Moline; the three communities and neighboring Bettendorf, Iowa, are known as the Quad Cities. , vice president and automotive finance manager at Capital City Bank of Tallahassee, Fla., has used the interface for two months and says the solution speeds the financing process for dealers and consumers while also providing benefits for financial institutions. "For more than two years, Cypress' Mark IV software has helped automate To turn a set of manual steps into an operation that goes by itself. See automation. our consumer lending Consumer lending or consumer loans refers to any type of loan product that is not a mortgage; such as a car, boat, manufactured home, home equity loan, home equity line of credit, signature loan, signature line of credit, recreational vehicle, or Certificate of Deposit loans. - a portion of which comes through DealerTrack," said Tony Davenport, vice president and automotive finance manager at Capital City Bank. "We jumped at the opportunity to install the new interface. It has helped us fully automate any loan requests that come to our bank through the DealerTrack network, and has significantly decreased the amount of data re-entry RE-ENTRY, estates. The resuming or retaking possession of land which the party lately had. 2. Ground rent deeds and leases frequently contain a clause authorizing the landlord to reenter on the non-payment of rent, or the breach of some covenant, when the - and the associated man-hours - that our loan officers have to perform. Looking back, I don't know Don't know (DK, DKed) "Don't know the trade." A Street expression used whenever one party lacks knowledge of a trade or receives conflicting instructions from the other party. how we operated without it." Cypress will offer the DealerTrack Interface as an option to financial institutions that use Mark IV and the Mark IV Indirect Finance Module. The interface is available immediately. "At Cypress, we continually listen to our clients and look for ways to improve our software products. This new interface with DealerTrack greatly enhances our Mark IV offering for any institution interested in utilizing this growing channel for automating the indirect automotive financing decision making process," said Stephen G. Sargent, president and chief executive officer at Cypress. "With the DealerTrack Interface, Mark IV users can witness increased indirect automotive loan volume while strengthening dealer relations with a faster decision turnaround time (1) In batch processing, the time it takes to receive finished reports after submission of documents or files for processing. In an online environment, turnaround time is the same as response time. ." Cypress' Mark IV platform allows lenders to take loan applications electronically while interviewing applicants, quickly retrieve and interpret credit reports, efficiently review sources of repayment, and deploy their loan policies. Cypress provides these tools to financial institutions with the goal of speeding a quality loan decision back to the applicant. About Cypress Software Systems Headquartered in North Richland Hills, Texas, USA, Cypress Software Systems, LP is a leading developer of automated credit application decision support technology. Cypress provides community and regional banks, finance companies and credit unions with loan application decision and tracking tools equivalent to those used by the largest national lending institutions Noun 1. lending institution - a financial institution that makes loans financial institution, financial organisation, financial organization - an institution (public or private) that collects funds (from the public or other institutions) and invests them in . Clients, nationwide and in 16 countries, use the company's flagship products A primary product of a company, which is typically why the company was founded and/or what made it well known. For example, MS-DOS, Windows and the Microsoft Office suite have been flagship products of Microsoft. CorelDRAW is a flagship product of Corel Corporation. , Mark IV and BizMark, to quickly and consistently process consumer and small commercial loan applications. Cypress Mark IV offers a flexible, risk-based processing approach that includes tracking consumer loan applications from point of entry to point of decision. Cypress' BizMark loan automation software processes commercial loan requests within a customer relationship management environment. Both products may be licensed in the bundled Cypress Suite and are offered in either an application service provider (ASP) or traditional business model. The company's product line also includes AppMark, an ASP-only consumer lending solution for community banks with assets of $200 million or less. Web Site: www.go-cypress.com. |
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