AVISTA SOLUTIONS OFFERS LENDER CUSTOMERS A NEW, SIMPLE WAY TO MANAGE MORTGAGE PRODUCT ELIGIBILITY

Avista’s Managed Product Service merges the power of the Avista Advisor Product and Pricing Engine with an expert product rules service to handle the difficult task of keeping lender products accurate and current

Avista Solutions, a leader in web-based mortgage loan origination software (LOS), announces a new service that empowers small and medium lending institutions to achieve large lender-style efficiency in product and pricing automation by eliminating the complexity of investor product rules maintenance. The service, called Avista’s Managed Product Service (AMPS), releases in-house human resources from laboriously validating program guidelines across multiple investor lines and scores of rate sheets. Avista’s AMPS service automates the job and feeds the information directly into lenders’ Avista Agile LOS/Avista Advisor systems for immediate retrieval and use.

“This service saves our customers a great deal of time, money and effort,” according to Avista CEO Mark Phlieger. “Because it is tightly integrated with Avista’s Agile loan origination system, it can provide an originator with seamless product eligibility and pricing feedback. Lenders won’t suffer from the integration issues and difficult user experiences that frequently come with third party add-on pricing engines.” Avista’s Managed Product Service uses the company’s Avista Advisor product selection and pricing engine (PPE), which has been in service for six years and has proven its robustness in processing over a million loans during that time.

“Additionally, AMPS allows lenders to take a ‘hybrid’ approach to PPE engine management at the product level,” Phlieger explained. For products the lender wishes to use from the Avista library, they can choose to have Avista manage the rules that feed the correct products into the engine. Portfolio loan products and others can be managed by the lender, giving them the best of both worlds. “This hybrid approach offers real granularity in the options available to lenders,” said Phlieger. “This is a capability unmatched by the PPE providers offering only national or super-regional investors’ product information. It means each Avista client can have a fully customized approach to product availability and pricing that compares to those created by and for the biggest lenders. It’s a real competitive advantage.”

About Avista Solutions
Avista Solutions, the Mortgage Technology magazine “2007 Mortgage Technology Help Desk Award Winner” and a 'Top 50 Mortgage Technology Provider', is a leader in web-based loan origination systems. Avista Solutions’ suite of mortgage lending software provides complete end-to-end solutions that can be rapidly implemented across all origination channels. Avista has handled over $462 billion in loan volume 100 percent via the web. For more information, please call (803) 788-4936, or visit www.avistasolutions.com.