L.J. Melody launches e-commerce initiative.L.J. Melody melody, succession of single tones of varying pitch. Melody is the linear aspect of music, in contrast to harmony, the chordal aspect, which results from the simultaneous sounding of tones. & Company has launched its new website, www.ljmelody.com. The website launch represents the first step of an e-commerce initiative the firm is committed to complete before year-end. The e-commerce project will encompass databases and components related to Marketing, 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. , and Loan Production. The Marketing portion includes corporate information about Melody's lines of business, offers an avenue for electronic financing requests, highlights deals financed by Melody, and provides links to various real estate, financing, and news sites. Additionally, it contains an Intranet component through which employees can access proprietary links and company information. Through the home page of the website, potential customers can submit requests for commercial real estate financing. Once submitted, a regional loan officer from Melody is assigned to the request, reviews the given parameters, and contacts the customer to discuss available options. The Loan Servicing component of the project will give customers who have loans serviced by Melody quick access to items such as loan balance information, draw request forms, account histories and statements, escrow payment Escrow payment is the common term referring to the portion of a mortgage payment that is designated to pay for real property taxes and hazard insurance. It is an amount "over and above" the principal and interest portion of a mortgage payment. information, FAQ's and e-mail links to Melody portfolio managers. Customers will be assigned confidential PIN numbers and passwords, which will link them to their specific data within the website. "We currently service over 2,000 commercial real estate loans totaling over $13 billion and we want to continually improve the service we provide our customers. Our borrowers and lenders will be able to access accurate, real-time loan information anytime, anywhere" said Bill Frazer, CFO See Chief Financial Officer. at Melody. The Loan Production portion of ljmelody.com will include a loan 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. platform which enables electronic delivery of packages to lenders, and puts packages in a consistent format that may be mapped directly to the lenders' underwriting templates. CB Richard Ellis CB Richard Ellis Group, Inc. NYSE: CBG is a multinational real estate corporation currently based in Los Angeles, California, U.S.A.. On December 20, 2006, the corporation, also known as CBRE, completed acquisition of Trammell Crow Co. in a transaction valued at $2. Appraisal's database will also be used here for comparables and market data. A centralized cen·tral·ize v. cen·tral·ized, cen·tral·iz·ing, cen·tral·iz·es v.tr. 1. To draw into or toward a center; consolidate. 2. database containing Melody's record of transactions will be part of the functionality of the completed project. The data will be filtered to mask the names of borrowers, lenders, and physical addresses, with the exception of the city, and will be available to all employees, providing a tool to utilize in winning new business. 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. Brian Stoffers, executive vice president at Melody, "L..J. Melody executes over 700 transactions per year through its network of nearly 30 offices nationwide. Borrowers and lenders will benefit by electronic information links that will help secure the optimum capital source for the transaction seeking debt or equity." |
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