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Please see the URL's for each of these, as I've only included brief
excerpts.
NEW LEASING INDUSTRY TECHNOLOGIES/IMPLEMENTATIONS
==================================================
LeasePlan keeps fleet managers happy with e-content management
http://www-3.ibm.com/software/success/cssdb.nsf/CS/NAVO-4X2VSJ?OpenDocument&Site=cmportfolio
Headquartered in Atlanta, Georgia, LeasePlan U.S.A. manages 532,000
vehicles as the North American division of a fast-growing, worldwide
organization of more than 7,000 employees and a managed fleet of over
1.2 million vehicles across the globe. Even though the division's
clients represent virtually all industries and have varying vehicle
needs, they had one common demand. They wanted more efficiency and
control over vehicle-ordering logistics, from viewing copies of
leasing documents at-will to changing billing structures in realtime.
But the most they could do was call a LeasePlan U.S.A. representative
and wait for an answer, a callback or faxed documents...
National Truck Leasing System
http://www.microsoft.com/resources/casestudies/CaseStudy.asp?CaseStudyID=14173
National Truck Leasing connects 120 independent truck leasing
companies and provides them with reciprocal emergency services,
leveraged buying power, training, and insurance. Utilization of
Microsoft Business Solutions–Great Plains has helped NationaLease grow
by over 20 percent per year in the last decade. They have experienced
17 years of continuous growth. Microsoft Great Plains technology has
enabled NationaLease to provide “large company benefits” to all
NationaLease affiliates.
Leading broker switches to specialist contract hire software
http://www.chevincomputers.com/contract_management_case_study.htm
One of the UK's fastest-growing leasing brokers, Corporate & Business
Vehicle Contracts has installed a state-of-the-art software package -
giving it complete control over its operations, while taking customer
service levels to new heights. Then in June it opted to switch to
Chevin Computer Systems' RoadBASEŽ Contract Management, written
specially for those at the cutting edge of the contract hire industry.
The package does everything from maintaining individual customer
records to managing servicing and other incidentals, including hire
cars, accidents, and P11D information. "Using this package has
revolutionised our operation, processing orders, sending out
introductory letters to drivers, contacting suppliers and generally
automating the day-to-day operation," says Manners. "RoadBASEŽ
Contract Management also makes it possible for us to fulfil our aim of
offering clients with 30-100 vehicles a full vehicle management
facility, without the costs of employing a full-time fleet manager.
Cap Gemini Tabs BEA as Integration Partner
http://www.cioupdate.com/news/article.php/2214121
Powered by BEA's flagship WebLogic Platform for serving applications,
Open Framework for Leasing (OFL) is a business integration suite
designed to help companies consolidate leasing and lending
applications more quickly. The firms argue that it is more
cost-effective than buying piecemeal software items to stitch together
new and existing legacy applications.
Newell & Budge create solution to manage Toyota's 6000 strong car
fleet
http://www.newellandbudge.com/press_centre/case_studies/toyota.html
Toyota (GB) Ltd selected Newell & Budge to develop a new application
on the AS/400 to manage its 6000 leased cars. The vehicles form part
of its own staff car fleet and those which it handles on behalf of
several large customers. Replacing a PC based system, the application
enables Toyota to fully automate its car fleet management, from
registering the issue of cars, through to lease expiry dates, purchase
options and issuing invoices. The system saves Toyota staff time by
reducing the administration involved in processing the car leasing
schemes.
SmartCabinet helps manage critical lease information
http://www.property.com/propertyHC/2002issues/sept.htm
With the SmartCabinet software from Active IQ Technologies, Inc.,
property, asset, leasing and acquisitions/dispositions managers can
provide a secure, scalable method for creating, managing,
collaborating and disseminating on a wide range of unstructured
business content such as documents, enterprise reports, CAD drawings,
regulatory documentation and marketing materials.
The Real Estate option delivers key benefits to users throughout the
real estate cycle. SmartCabinet offers ways to eliminate cash-draining
delays in negotiated agreements and make critical property documents
instantly accessible 24 hours a day. With the software, property
managers can share and collaborate on documents with attorneys,
tenants, vendors, etc. within the security of SmartCabinet web-based
repository. The software also gives users full-text search
capabilities which offer instant access to lease terms and clause
information.
Softshare Delta in Practice
http://www.softshare.com/software/delta/casestudy.asp
With Softshare Delta, Frigidaire Financial Corporation has been able
to use their resources more efficiently, offering value-added services
to their trading partners and leaving their competition out in the
cold. Not afraid to push Delta's cutting-edge technologies, FFC
recently agreed to implement the final stage of inbound processing by
eliminating the typical flat file intermediary approach. A
database-to-database translation solution was created to integrate the
transactions stored in the SQL Server repository directly with the DB2
database located on their AS/400. To round out FFC's innovative
e-commerce integration solution, Softshare's Electronic Commerce
Server provides a complement to Delta by managing the flow of incoming
and outgoing e-commerce data.
Vernon: Case Study
http://www.opensolutionsinc.com/case_vernon.htm
Vernon is using OSI's Web Portal to communicate and provide
information to customers. Vernon allows them to login to the corporate
intranet to view real-time information on assets and contracts.
Vernon also operates On-line Auctions, offering business-to-business,
business-to-person and person-to-person auction models. Vernon offers
private "Re-Marketing" solutions for large corporations wishing to
dispose of their assets through a public auction or for employee
purchase programs.
Lease decisions can be as easy as GIS
http://www.icsc.org/srch/sct/current/sct9801/15.htm
Geographic Information Systems (GIS) can help decision makers in such
endeavors. These are software applications that present information,
such as demographic statistics or traffic patterns, in a geographic
format. Analyzing information within a visual context often brings to
light relationships that otherwise might be missed. However, some
property managers and owners have taken the technology a step further,
and brought its benefits inside the mall. PREIT-Rubin Inc., a shopping
center management firm based in Philadelphia, has used GIS to merge
graphical information such as a floor plan, with financial information
and data on the status of a lease.
Older:
Ford Financial: J2EE Technology-Based Architecture Drives
Transformation Across Enterprise
http://www.sun.com/service/sunps/success/case_studies/ford_cs.html
"In the mid-1990s, Ford Financial was faced with making a key
strategic decision regarding its platform infrastructure design due to
a changing competitive financial services landscape. Ford Financial
realized that it needed to be able to respond more quickly to
customers and to empower its dealers and customer service
representatives with immediate, real-time information regardless of
location. Its focus turned to leveraging its existing IT
infrastructure to provide customer relationship management (CRM) and
ecommerce services to customers. Ford Financial's existing proprietary
platform was becoming obsolete. The company also realized that it
needed an Internet-based data distribution system one that was more
decentralized and scalable than its current environment."
NEW MORTGAGE INDUSTRY TECHNOLOGIES/IMPLEMENTATIONS
==================================================
[(1) courtesy Mortgage Technology News:
http://www.mortgage-technology.com]
OnSphere - Case Study
http://www.onsphere.com/documents/RBMGCaseStudy.pdf
RBMG’s goal was to provide online ease of use and rapid turnaround of
loan processing to its many business partners via the web. Security
and ease of use were paramount to its needs. The solution was eRBMG,
an online loan portal that allows its brokers and correspondents the
ability to submit loan applications and receive credit decisions
within minutes via an automated underwriting engine. The system was
built around the need to process credit bureau report orders, rate
locks and loan status tracking. In addition, the system needed to be
able to fax and barcode electronically routed documents for
validation. The site would allow clients to quickly lock rates,
provide the ability to manage the client’s own pipeline, and provide
access to underwriting and other services.
HomeSourceCapital Case Study
http://www.xmlglobal.com/cst/customer_homesource.jsp
Mortgage approval process now streamlined with powerful reporting
capabilities.
Able to exchange data in a common and mutually understandable format
between various financial institutions including banks, credit unions
and trust companies. Benefit to the end consumer with the most
competitive mortgage available in the quickest possible time.
Corebrix: Case Study
http://www.comat.com/html/expertise/corbrix.html
CoreBrix required a internet application to be provided to real estate
agencies to help them create online web sites and highlight their
profiles. This application also allowed the agents to customize their
web sites according to their requirements. The user search module
provided real estate information of all the agencies categorized based
on city, state and zone. The web crawler provided users online real
time information on the availability and online rates along with
mortgage rates picked from other web sites.
Dexels
http://www.dexels.com/navajo_casestudy.php
This article illustrates how Navajo can be applied for solving and
improving real-world business processes. The financial services
industry is taken as an example to clarify the benefits of Navajo in
business-to-business initiatives. This industry has always been an
early adopter of new, leading-edge technologies. Being challenged by
other companies, the need grows to integrate business applications
that exist within and outside the boundaries of the organization.
Integration will form the basis for exploiting new markets and
business models. The Navajo solution delivers a comprehensive single
architecture for integration across a multiple and heterogeneous
application environment, within and outside the enterprise.
Finance Case Study: Mortgage Broker
http://www.hiplinkwireless.com/case_studies/Banking_Finance.asp?cp=fbcs
Problem: A Mortgage Company was experiencing heavy losses in revenue
each year, and each Sales Rep was losing several thousands of dollars
a year in income due to quickly changing market terms and conditions
and rates. What the Office Manager needs is an easier way to send a
complete, detailed message once, that will simultaneously reach each
Rep. The Manager also needs to know if each rep has received the
message to determine if other means of notification are necessary in
the event of failed delivery, either manual or system-automated. To
summarize, the company needs to put in place an efficient and
convenient messaging system to monitor and improve upon its operation
each time a loss needs to be resolved and responsibility identified.
Mortgage Boom Proves Technology's a Bust
http://www.celent.com/PressReleases/20030728(2)/Mortgage.htm
Celent predicts almost half of the top 100 US mortgage lenders will
deploy new loan origination technologies by the end of 2005. Celent
analyzes the effects of low interest rates on the mortgage industry
and the obvious need for next generation solutions offering greater
efficiency, higher levels of integration, and the promise of full
business process automation. Members of Celent Communications'
Retail Banking research service can download the report electronically
by clicking on the icon to the left. Non-members should contact
info@celent.com for more information.
Xencoders
http://www.xencoders.com/news/megachip.php
A leading provider of technologies to the mortgage industry, MegaChip
Technologies, has deployed ChatAnywhere Enterprise Server. MegaChip
has partnering with Xencoders to bring real-time chat solutions to the
mortgage and banking industries.
DataTrac and DocuTech
http://www.docutechcorp.com/datatrac.php
"We closed a $960,000 loan," says Jim Wayne, CEO of Barrington Capital
Corporation. "We used one program for our LOS, another to draw docs on
a per-file basis, another to do funding. The interest rate was 6.5%,
but on the loan docs, it came out 6.25%. The customer had already
signed it when I saw it. That’s when I realized we needed to have a
loan doc system that was seamless--that instead of exporting out of
Datatrac into another program and manually changing things, I wanted
this locked down to where the LOS was imbedded within our overall
operating system."(1)
Dynatek Offers EDD Plug-In
http://www.dynatek.com
"Dynatek Inc., Livonia, Mich., the developers of the MORvision loan
origination system, has added an electronic document delivery (EDD)
interface category to its Integration Suite offering that will make it
easy for providers of electronic mortgage documents to do business
with MORvision users. Dynatek's proprietary Plug-In technology
provides system level integration of external data files between
mortgage industry vendors and MORvision, giving lenders the equivalent
of an electronic partner network built into the LOS. The new Plug-In
for EDD will allow one-click electronic document delivery for
MORvision users. Now, any EDD vendor can develop a Plug-In for
MORvision. Data-Vision has already developed a Plug-In for its
RemoteDocs offering and VMP has one for its vmpdelivers product.
Dynatek's Integration Suite, a collection of Plug-Ins for credit
bureaus, flood, title, appraisals, mortgage insurance, automated
underwriting, registration and transaction portals."(1)
Flagstar Picks EagleCert Valuation Product
"Flagstar Bank has picked eAppraiseIT LLC's EagleCert Insured
Valuation product to handle portfolio loans generated through its
nationwide network of correspondent lenders and independent mortgage
brokers, eAppraiseIT has announced. Michigan-based Flagstar said the
program -- for which eAppraiseIT cooperated in creating a proprietary
workflow system -- will lower costs and produce efficiencies for the
bank. The workflow component uses embedded lender rules to automate
the process of product selection by first using EagleCert automated
valuation models and augmenting them with other products as needed.
Licensed appraisers are used for desktop appraisals and 2055
drive-bys. Turnaround time for all EagleCert transactions is less than
24 hours, according to eAppraiseIT, which is a joint venture between
The First American Corp. and LandAmerica Financial Group. The Flagstar
implementation is expected to be completed by the end of June. The
companies can be found online at http://www.flagstar.com and
http://www.eappraiseit.com."(1)
Veros Updates AVM System
"Veros Software, a provider of predictive technology and advanced
analytics based in Irvine, Calif., has released the latest version of
its VeroValue automated property valuation system. VeroValue 1.6
provides mortgage lenders with new tools such as home value
forecasting, online account management, property fitness scoring, and
wireless access, the company said. Home value forecasting is provided
through analysis of key economic indicators and residential real
estate trends, while property fitness scoring combines analysis of the
subject property, neighborhood, market conditions, and both micro- and
macro-economic conditions, Veros said. In addition, the new version
offers a Correlated Confidence Score based on the accuracy of the
valuation estimate, scaled from 1 to 100 for ease of integration into
automated underwriting systems, the company said. Veros can be found
online at http://www.verovalue.com."(1)
FirstAm RES Unveils Freddie Link
"First American Real Estate Solutions, Anaheim, Calif., has announced
the successful implementation of a high-speed, secured direct
connection to Freddie Mac's valuation platform, including Home Value
Explorer and Home Value Calibrator. FirstAm RES's technology offers a
single point of access to its products and Freddie Mac's. The
company's line of information solutions includes its automated
valuation model (ValuePoint 4), property reports, document images,
flood data maps, legal and vesting reports, parcel maps, foreclosure
information, demographics, crime and school statistics, and lien
release information. The company made its announcement at Thomson's
6th Annual Mortgage Technology Conference in Miami. FirstAm RES can be
found online at http://www.firstamres.com."(1)
CASA AVM Picked for 1st Liens
"Principal Residential Mortgage Inc., a multibillion-dollar national
lender and servicer based in Des Moines, Iowa, has selected Fiserv
unit Case Shiller Weiss, Cambridge, Mass., to implement a customized
collateral risk assessment system. The system will be built around
CSW's CASA automated valuation model and will be one of the first to
see AVMs employed in the first-lien business. The lender will use the
CASA scoring system in its prefunding stage to assess collateral
valuation risks associated with first-lien mortgage loan applications.
Terry Loebs, vice president of sales, marketing, and services for CSW,
said the agreement is "a milestone" for the AVM business. The
companies can be found online at http://www.principal.com/mortgage.htm
and http://www.cswv.com."(1)
Synergistic Adds Veros AVM to EPN
"Veros Software's VeroValue automated valuation model will become an
integrated tool in Synergistic Software Systems' SharperLending online
platform, allowing lenders to order an AVM through the Electronic
Partner Network. VeroValue currently provides valuations in 40 states
and over 600 counties nationwide. Veros, based in Irvine, Calif., said
it also generates property fitness analytics, price trend information,
and VeroForecast, an analytic tool that estimates future values and
market stability. Synergistic, based in Spokane, Wash., said its
technology already serves 18,000 lenders nationwide, a growing number
of which have access to its new SharperLending system -- a Web-based
platform through which lenders can order, store, and manage all the
reports they need to close a loan. Veros can be found online at
http://www.veros.com, and Synergistic can be found at
http://www.sharperlending.com."(1)
Ameriquest Piloting Appraisal Alternative
www.ameriquest.com
"Ameriquest Mortgage Co., Orange, Calif., has announced a pilot
program under which it will replace traditional appraisals on certain
mortgage programs with Collateral Valuation Insurance, a new product
developed by Fidelity National Information Solutions. Ameriquest said
it has signed a letter of intent with FNIS under which Ameriquest will
use CVI to speed up its collateral valuation process for its
first-mortgage operations. Ameriquest, which has been using CVI for
the past 90 days to replace certain appraisals, said it decided to
expand the use of the product after experiencing "substantial
improvement in turnaround times and quality of its collateral
valuations." CVI can reduce the turnaround time for appraisals from
several weeks to several days, the company said. Ameriquest said CVI
is the first appraisal alternative product that combines automated
estimates of value with an inspection of the property and valuation
insurance."(1)
"Provantedge Technologies, Lake Forest, Calif., will provide
electronic access to Plano, Texas-based LandSafe's credit reports and
other credit services to mortgage brokers and lenders who use its
Provantedge nVision loan management system. According to LandSafe
president D. Steve Boland, the integration of the company's online
systems with nVision should further increase order volume. Provantedge
said it would also provide access to LandSafe's products through its
VOX Loan Professional Websites offering, a tool that extends nVision's
capabilities for online loan origination. LandSafe's services include
appraisals, credit reporting, flood determination, title insurance,
and escrow services for residential mortgage transactions."(1)
Additional Link
NVLA
Scott/Bill Crawford
800-488-8451
http://www.nvla.org/
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