Guardian Mortgage Documents Enables Principal Bank to Quickly Introduce New Home Equity Product to National Correspondent Network.LAKEWOOD, Colo. -- Guardian's NGIS NGIS Next Generation Interconnection System NGIS Northrop Grumman Integrated Systems Enables Principal Bank to Quickly Deliver Product to Market, Helping Correspondents Take Advantage of the Popularity of Home Equity among Borrowers Principal Bank, a member of The Principal Financial Group(R), has expanded its use of Guardian Mortgage Documents' (GMD (company) GMD - Full name: "GMD - Forschungszentrum Informationstechnik GmbH" (German National Research Center for Information Technology). Before April 1995, GMD stood for "Gesellschaft für Mathematik und Datenverarbeitung" - National Research Center for Computer Science, ) Web-based Next Generation Input System (NGIS)(TM) and has launched its newest home equity product to support its new correspondent network. The new 10-year balloon HELOC HELOC Home Equity Line Of Credit product is immediately available nationwide via the Web - 24 x 7. Principal Bank is a direct bank serving customers online, by phone, U.S. Mail and through a nationwide ATM network, enabling customers to access account information any time, from anywhere across the country. "One of the reasons we chose to work with Guardian Mortgage Documents is the current popularity of home equity products in the marketplace and NGIS' ability to quickly make new products available to our correspondents," said Barbara Mueller, vice president and chief credit and risk officer for Principal Bank. "NGIS enables us to offer correspondents a more streamlined workflow in a timely manner. Now, thanks to NGIS, our correspondent network can offer this new 10-year balloon HELOC to potential borrowers." GMD supplies closing documents, ensures regulatory compliance and delivers ongoing maintenance for all of Principal Bank's correspondent home equity products, including the new 10-year balloon HELOC. NGIS enables the lender's correspondents to quickly generate HELOC documents with minimal data entry. Within seconds of a correspondent's initial request, NGIS delivers documents via Web or email that are in complete accordance with both Principal Bank's and state-specific guidelines. The system includes quality control features that check accuracy of loan data and regulatory compliance, all prior to generating the documents. "Principal Bank completed significant analysis and due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. when selecting its document preparation and delivery provider, and Guardian Mortgage Documents was chosen because we meet and exceed all of the bank's rigorous requirements," said Tim Anschutz, vice president of Marketing for Guardian Mortgage Documents. "In addition to others, some of the key capabilities that attracted the bank to us were our ability to quickly implement new HELOC products, our easy-to-use software and our unparalleled IT infrastructure backing the solution." About Principal Bank Established in 1998, Principal Bank was one of the first online banks approved and chartered by the Office of Thrift Supervision The Office of Thrift Supervision (OTS) was established as a bureau of the Treasury Department in August 1989 as part of a major Reorganization Plan of the thrift regulatory structure mandated by the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA) (12 U.S.C.A. as a federal savings bank Noun 1. federal savings bank - a federally chartered savings bank FSB savings bank - a thrift institution in the northeastern United States; since deregulation in the 1980s they offer services competitive with many commercial banks and has experienced rapid growth to $1.2 billion in assets as of December 31, 2004. Principal Bank is a member of the Principal Financial Group. About the Principal Financial Group The Principal Financial Group* (The Principal)(R) is a leader in offering businesses, individuals and institutional clients a wide range of financial products and services, including retirement and investment services, life and health insurance and banking through its diverse family of 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. companies. A member of the Fortune 500, the Principal Financial Group has $168.7 billion in assets under management Assets Under Management (AUM) is a term used by financial services companies in the mutual fund and money management or investment management business to gauge how much money they are managing. and serves some 14.9 million customers worldwide from offices in Asia, Australia, Europe, Latin America Latin America, the Spanish-speaking, Portuguese-speaking, and French-speaking countries (except Canada) of North America, South America, Central America, and the West Indies. and the United States. Principal Financial Group, Inc. is traded on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. under the ticker symbol Ticker Symbol An arrangement of characters (usually letters) representing a particular security listed on an exchange or otherwise traded publicly. When a company issues securities to the public marketplace, it selects an available ticker symbol for its securities which investors PFG PFG Principal Financial Group PFG Performance Food Group (Richmond, VA) PFG Pinnacle Financial Group PFG Plasma Flood Gun PFG Planning for Growth PFG Pasty Faced Geek PFG Perfluoroguanidine . For more information, visit www.principal.com. About Guardian Mortgage Documents Lakewood, Colorado-based Guardian Mortgage Documents (GMD) is a provider of document preparation, automated management workflow and fully customized outsourced solutions to the national financial services industry. Since 1987, GMD's products and services have been built on best-of-class technology designed to provide an inventory of scalable and flexible multi-product capabilities, which can be customized to deliver elegant client solutions. From simple document preparation to fully integrated and customized workflow solutions, GMD technology streamlines all processes to increase efficiencies. In 2004, GMD received Mortgage Technology Magazine's prestigious 10X Award for providing exponential value to the mortgage process. GMD clients include three of the top four largest residential correspondent lending institutions in the United States*. For general information, visit www.gmd.com or call (800) 275-4885. *According to Origination News, June 2004, "Top Residential Correspondent Lenders in Q1 04." |
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