HNC Software Inc., a leading provider of neural network technology, has moved to take stronger control of the marketing and support of its mortgage loan software.
The software, known as Aquarius, had previously been distributed and administered by Foster Ousley Conley, but that company is cutting back its involvement in mortgage activities, including those handled by HNC software.
Foster Ousley Conley had helped San Diego-based HNC to develop Aquarius, which uses neural networks to build statistical scoring reports that can be used in evaluating first-time mortgage applicants.
Neural networks are computer systems that emulate the problem-solving processes of the human brain. They are especially useful for identifying complex patterns from huge amounts of numerical of data.
With the departure of Foster Ousley Conley, HNC will take over the company's customer support and marketing responsibilities.
"When [Foster Ousley] decided to refocus its business interests, we saw an opportunity to revamp our marketing process," said Michael Jackman, HNC vice president of lender systems. "This step allows us to get closer to our customers."
HNC said it will also take over distribution and support for Areas, an automated residential property valuation system, which was also available through Foster Ousley.
