Guardian Mortgage Documents Integrates Closing Disclosures Into ARC Systems' Loan Finder Express

Business Wire, Feb 23, 2005

LAKEWOOD, Colo. & AUSTIN, Texas -- Solution brings real-time disclosures and closing capabilities to POS, improving closing rates, eliminating disclosure concerns and reducing costs for mid-tier lenders

Guardian Mortgage Documents (GMD) and ARC Systems have expanded their strategic partnership to include an integration of GMD's dynamic document engine and ARC Systems' Loan Finder Express(TM) (LFE)(TM). Once completed, the integration will create a complete point-of-sale solution for mid-tier lenders that includes instantaneous product and pricing decisions and complete, real-time disclosures. Because both GMD's document engine and LFE are application service provider (ASP) solutions, loan officers and brokers will be able to quickly and easily access the solution via the Web from any location. The integration is expected to be completed in the second quarter of 2005.

Lenders using the integrated solution eliminate disclosure challenges, increase closing ratios, reduce costs and increase accuracy of product and pricing. Because the solution is automatic, lenders are ensured that the required pre-disclosure documents are provided to the borrower immediately. By providing the disclosure documents at the point-of-sale, originators can secure a borrower's signature and commitment immediately, increasing closing rates. The integration will reduce costs through the elimination of redundant data entry and by enabling accurate and complete data to flow from the point-of-sale into subsequent areas of the mortgage process, including compliance systems.

"This solution was built to meet the major challenge of mid-tier lenders - how to identify the best product and pricing available for the borrower and close the deal immediately at the point-of-sale," said Ed Jones, president and CEO of ARC Systems. "The combination of Loan Finder Express's ability to quickly identify the right product and pricing options and Guardian Mortgage Documents' ability to immediately deliver accurate pre-disclosure packages enables loan officers and brokers to do just that."

Designed for mid-tier lenders and brokers, Loan Finder Express is an extension of ARC Systems' other dynamic decisioning products in the company's end-to-end mortgage origination and processing suite. LFE provides a fast, easy way to custom match borrowers with loan programs ranging from conforming to nonprime - even if the originators have limited experience with an unfamiliar mix of product categories. This provides a much simpler method for mid-tier lenders to enter the nonprime market.

The underwriting tool allows lenders to quickly compare products for a browsing borrower or, alternatively, empowers a loan officer to initially pull credit to assess a borrower's profile. It is ideal for mid-tier lenders and their associates, pushing decisioning closer to the point-of-sale, even working in the field with a smart phone or web-enabled PDA.

"Capturing the business that walks in the door and identifying the right product and pricing for that borrower are top priorities for loan officers and brokers," said Tim Anschutz, vice president of Marketing for Guardian Mortgage Documents. "This solution enables a mid-tier lender that struggles with disclosures to gain a product and pricing tool and solve those disclosure problems. Furthermore, because we've combined two ASP solutions, there are no fixed costs or legacy systems to manage. The 100 percent variable cost structure enables lenders to ramp up technology as their business increases - an extremely valuable feature in a fluctuating volume environment."

Lenders are not required to pay any surcharges for taking advantage of this integrated solution.

About ARC Systems

Founded in 1984, ARC Systems is a privately held company that provides lending institutions, investment and commercial banks across the nation with the power to make fast, accurate and consistent decisions at the point-of-sale for risk-based pricing and credit evaluation. Empowering financial institutions with the ability to make better business decisions, the company's proprietary, patent-pending, rules-based system is used by lenders to provide their customers, correspondents and brokers direct access to automated underwriting and online loan origination system functionality.

About Guardian Mortgage Documents

Lakewood, Colorado-based Guardian Mortgage Documents (GMD) is a provider of document preparation, automated management workflow and fully customized outsource solutions to the national financial services industry. GMD received the 2004 Mortgage Technology 10X Award for providing exponential return on investment to its clients and advancing industry efficiencies, and is one of Mortgage Technology's Top 100 Vendors.

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.