/24-7PressRelease.com/ - COLUMBIA, S.C., February 16, 2005 -- Avista Solutions, a leading provider of web-based mortgage origination software, announced today that it has completed verification of its two-way interface to the most recent version of Freddie Mac's LoanProspector.com Internet-based automated underwriting service. Avista is using the two-way interface to LoanProspector.com for loan submissions from its Avista Accelerator Wholesale, Correspondent and Retail platforms.
"This is the third LoanProspector.com software update verification process we have completed with Freddie Mac in the last two years," said Mark Phlieger, CEO of Avista Solutions. "It underscores our commitment to our customers to provide them with the most up to date access to vendor services such as Loan Prospector. LoanProspector.com verification is an extensive process and the benefits include access to all of the new product features, process and enhanced feedback messages that LoanProspector.com provides.
"Avista's announcement means that more originators can take advantage of LoanProspector.com's speed, ease of use, and access to Freddie Mac's full range of mortgage products," said James Cotton, vice president of single family marketing at Freddie Mac.
The Avista Accelerator origination platform allows users to create loan applications online or import them from external loan origination software, as well as order services such as credit, automated underwriting, and more. Online status, pipeline management, originator/lender loan collaboration, disclosures and closing documents via 3rd party document providers are also provided in this B2B platform. The lender view allows users access to all of the originator specific services as well as features such as template driven underwriting management. Simple updating of website content for each channel is managed through the user friendly back end administration.
The Avista Advantage Product and Pricing Engine includes a pricing scenario tool which allows originators to evaluate borrower loan eligibility and receive a list of qualified products with fully adjusted pricing with as few as 15 fields of data. Online locking with fully adjusted pricing and immediate confirmation is also provided. A lender managed eligibility and price adjustment interface allows lenders to rapidly manage product changes and implement new products.
Avista Solutions can implement the system in less than 45 days and customize it to meet the needs of the client. For a demonstration of how this innovative system can benefit your business, visit us on the web at http://www.avistasolutions.com or call (803)788-4936
Avista Solutions is a financial services software company that combines years of mortgage industry experience with powerful technology skills to deliver integrated mortgage origination solutions to lenders. Avista's web-based wholesale, correspondent, retail, consumer direct, and product pricing and online lock platforms are designed to streamline the origination process, increase loan production, reduce operating costs and improve customer service.
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