LOS ANGELES., April 4, 2008 — Applied Business Software Inc. ("ABS"), developer of The Mortgage Office(TM), the leading loan servicing software solution for the lending industry, and FIS Valuation Solutions ("FIS"), a Fidelity National Information Services Company and the nation's number one provider of collateral risk and valuation services, announced today that they have formed a strategic partnership to provide full product integration between The Mortgage Office(TM) and the services provided by FIS.
How does it work?
This new free module of The Mortgage Office(TM) provides a seamless interface between ABS' Loan Servicing module and FIS products. With a simple click of a button you can now receive and automatically store as an attachment to the property file the most accurate valuation reports available in the industry today.
There are two valuation reports available, ValueSure(TM) and The Preview (HQ Score(TM)). See below for details:
ValueSure(TM) is an automated valuation model (AVM), which allows industry professionals to quickly estimate property value. Designed to meet the needs of mortgage originators, lenders, services, brokers, and investment bankers, ValueSure(TM) can be used during every step of the lending process, from origination, underwriting, and quality control to servicing, portfolio review, and default management.
Preview (HQ Score(TM)) product was developed by FIS Valuation Solutions as an automated review tool to assist clients in determining the quality and loss potential of real estate collateral without the need for a complete appraisal review. It measures the probability of a current over-valuation of a property based on an appraised value or other valuation estimate. The Preview (HQ Score(TM)) provides fast, efficient, comprehensive reporting to facilitate collateral risk decision-making.
Until now, automated, integrated systems such as these have only been available to large banks and national servicers, allowing them to take advantage of the latest technologies and reducing their costs dramatically. Now users of The Mortgage Office(TM) can enjoy the same capabilities and functions, and at an unbeatable price.
Jerry Delgado, president of ABS, stated, "This alliance between ABS and FIS creates a fully integrated system comparable to those offered by larger system integrators, allowing our customers to order collateral risk assessment reports in an efficient, fully automated, bi-directional electronic format. We're proud of our reputation for excellence, both in our products and in our people. Our large network of satisfied ABS customers is proof of our commitment to providing personal, efficient, quality customer service all day, every day. We realize how important your software system is to the success of your business and we take our responsibility as your software provider very seriously. We at ABS are committed to quality and to providing you with reliable, state-of-the-art, cost-effective mortgage software and loan servicing solutions."
About FIS Valuation Solutions
Established in 1992, FIS Valuation Solutions is today the nation's number one provider of collateral risk and valuation services. Industry professionals from coast to coast have come to rely on FIS in-depth valuation review experience and state-of-the-art capabilities to assist them in making informed decisions. For additional information about FIS's products and services, visit http://www.hanqual.com or call (800) 282-1104.
About Applied Business Software
Applied Business Software, founded in 1978 and creator of The Mortgage Office(TM), is a market leader and global provider of software systems and solutions to the mortgage lending industry. The Mortgage Office(TM) is a complete suite of software products designed from the ground up to specifically address the needs of those who service loans and mortgage pools. The Mortgage Office(TM) has consistently rated superior in design, system interface, expandability, and ease of use. This true 32-bit Windows application collaborates fully with the Microsoft Office suite of products and is designed to make loan servicing more profitable and your overall business run more efficiently. ABS is based in Long Beach, California. For additional information about ABS's products and services, visit http://www.themortgageoffice.com or call (800) 833-3343.
Press Contacts:
Applied Business Software, Inc.
Jerry Delgado
President
(562) 426-2188
Email
FIS Valuation Solutions
Adrian Tarke
National Business Developer
(800) 282-1104
Email