Avista Solutions Selected by Southern Trust Mortgage to Implement Web-Based Loan Origination and Product & Pricing Systems
By Avista Solutions
July 12, 2006 |
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Southern Trust Mortgage, LLC, based in Virginia and one of the largest independently owned mortgage companies in the Mid-Atlantic Region has selected Avista Solutions to implement a new Web-based Mortgage Loan Origination and Product & Pricing System. The new B2B system is based on Avista Solutions' Avista Accelerator™ Loan Origination System and Avista Advantage™ Product & Pricing Engine.
PR9.NET July 12, 2006 - San Francisco, CA - "We performed a rigorous vendor evaluation process before selecting Avista," said Kim Curtis, EVP, COO Southern Trust Mortgage, "The strength of Avista's product pricing technology and quality of their references set them apart."
"We are excited that Southern Trust Mortgage has selected Avista Solutions to implement our web-based mortgage origination platform," said Mark Phlieger, CEO of Avista Solutions. "We are looking forward to this opportunity to work with them and believe our innovative products will provide Southern Trust Mortgage the ability to better serve its wholesale and retail channels by streamlining the origination process with key components such as product eligibility, online lock, automated underwriting and closing docs."
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 and automated underwriting. Online status, pipeline management, originator/lender loan collaboration, disclosures and closing documents via 3rd party document providers are also provided in this B2B website. 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 & 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 12 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.
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 Avista Solutions Selected by Southern Trust Mortgage to Implement Web-Based Loan Origination and Product & Pricing Systems
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