Systematics Financial Services Inc. has signed a long-term outsourcing contract with National Home Mortgage Corp. of San Diego. Under terms of the agreement, Systematics will manage the mortgage company's loan processing operations.
All loans, including real estate, general ledger, collections, and related loan applications, will be processed out of Systematics' Los Angeles-based technology center.
The dollar size of the contract was not disclosed.
"Our system will enable NHMC to centralize all loan processing functions," said Roger Owens, president of Systematics.
"They will benefit by gaining more control of processing costs and decision-making information."
NHMC, with $6.7 billion in assets and four locations in California, was a subsidiary of the former Home Fed Bank, which is now under ownership of the Resolution Trust Corp.
Systematics, with clients throughout the United States and in 34 countries around the world, provides information processing management, outsourcing services, and application software to financial, telecommunications, and health care industries.
The Little Rock-based company is a subsidiary of Alltel Corp.
