SOFTWARE INC., Allanta, released an image-based check research system that integrates International Business Machines Corp.' s image solutions with Antinoti' s Tramit Research System.
The image-based research system accommodates low to very high volumes (millions of document images a day ) and short to long (multiple years) retention periods. A wide variety of IBM storage media, including optical disks and magnetic tapes, are supported. The image can be retrieved on-line, then printed, faxed, or exported, cutting research time by up to 80%, according to Antinori.
Premier Says System Cuts Appaisal Time
An automated system from Atlantabased Premier Appraisals Inc. can reduce the time it takes to complete an appraisal from days to hours, says a Premier spokesman.
The product, called Express Appraisal System, or Easy, can search every major real estate data base in metro Atlanta, retrieve comparable property information, analyze the data, and automatically compute the appraiser's adjustments. An appraiser then reviews and edits the calculations, which are faxed to the client. The entire process can be completed in an hour, according to the company.
Testing done by Premier shows that the average property valuation conducted with the system has been within plus or minus 2% of the valuation of the manual appraisals, despite the fact that the automatic valuations were performed without the appraiser seeing the house.
Premier is currently negotiating with other firms to extend the use of Easy to cities throughout the country.
CPI Link Offering Strategic's Products
The electronic credit reponing products of Strategic Mortgage Services are now available from Computer Power Inc.' s new interchange network for the mortgage indnstry.
Strategic provides mortgage services nationwide, including credit information, appraisal, mortgage documents, property title, and settlement services.
CPI Interchange is an electronic communications network for the mortgage banking industry. It electronically connects originators, appraisers, insurers, investors, sendeem, and other parties involved in the mortgage lending process. It acts as the communications conduit for the data and as the translator of proprietary data formats to American standard, X 12 format.
Strategic Mortgage Services plans to make title and appraisal services available later this year.
CPL a division of Systematics Information Services Inc., is based in Jacksonville, Fla.
Fitech Unit Offers Mobile Loan System
Fitech Systems Lending Division released a PC-based mobile mortgage system designed to provide greater control in customizing mobile networks as well as improving communications capabilities between central host sites and mortgage originators in the field.
The system, dubbed Grand Central, is made up of three components: a communication workstation to coordinate communication between a host site and brokers in the field; call central, a custom menu-driven data base and archival application; and remote screen functions for mortgage calculations, up-to-theminute scoring, rate information, and step-by-step prequalification.
When a broker enters application information into the laptop computer for transmission to the central workstation, the information is downloaded directly into the host system.
Fitech Systems Lending Division is a autonomous operating unit of Htech Systems Inc. Atlanta.
Fair Isaac Offers Underwriter for PCs
In its latest release of CreditDesk application processing software, Fair, Isaac & Co. has added capabilities enabling the system to make credit decisions on PCbased systems. CreditDesk 2.1 adds riskbased pricing, verification and supervisory review queues, and table-driven scorecard implementation.
The Windows-based system assesses credit application rise revenues and analyzes credit bureau rapore, performs accept/decline letter generation and other processing functions, and pmduces a series of management reports.
Fair Isaac has also updated each of the industry-specific credit application scorecards, which were developed based on a data base of pooled creditor informarion. It added several summary credit bureau characteristics, in addition to a score component, to make the scorecards more accurate predicters of an applicant's performance Fair Isaac is based in San Rafael, Calif.