Software facilitates loan acquisition.March 3, 2006 -
Providing procurement product for acquisition of whole loan pools and servicing rights, Astera Load Acquisition Manager v2.5 allows buyers of loans to analyze incoming loan data, price and adjust pricing of loans, and make bids. Data transfer utility can be used by servicing acquisition groups to crack purchase tapes from multiple brokers and sellers as well as to validate, transform, and map data to mortgage servicing and financial systems.
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Original Press release
Astera Software Corp.
3675 E. Huntington Dr., Suite 200
Pasadena, CA, 91107
USA
Astera Launches Loan Acquisition Product
WESTLAKE VILLAGE, Calif., Feb. 8 / -- Astera Software (www.astera.com), the leading supplier of software and services for the secondary mortgage markets, announces the launch of Astera Loan Acquisition Manager (ALM) 2.5, a procurement product for the acquisition of whole loan pools and servicing rights.
ALM 2.5, which will be released in April 2006, allows buyers of loans to analyze incoming loan data, to price and adjust pricing of loans, and to make bids in minutes, facilitating a prompt response and quick turn around. In addition to calculating alternative prices, such as those of their competitors, ALM can also give buyers an edge over other purchasers on price, as well as quickness of response.
ALM's powerful data transfer utility can also be used by servicing acquisition groups to crack purchase tapes from multiple brokers and sellers as well as validate, transform and map data to mortgage servicing and financial systems, ensuring high levels of data integrity and automation of many manual tasks.
According to Ibrahim Surani, President of Astera Software, "ALM is a natural evolution from Astera Secondary Manager, ASM, our sell-side product that is being used by leading mortgage bankers to optimize and price pools of loans for sale. We have already seen a demand from the buy-side community that requires the same level of sophistication and automations that the secondary marketing departments, who are using ASM, are benefiting from."
About Astera Software
Astera Software is the leading supplier of bulk loan selling and purchasing systems in the secondary mortgage market. Its sophisticated rules based products include: Astera Secondary Manager (ASM), a sell-side product for secondary marketing departments; Astera Loan Acquisition Manager (ALM), a buy-side product for correspondent lenders, investors, conduits, broker and servicing acquisition departments; and the upcoming Astera Delivery Manager (ADM), a loan delivery, due diligence and deficiency management systems that manages, automates and controls the due diligence process for use by sellers and buyers of loans. Astera's products are used by some of the largest prime and non-prime lenders in the U.S. to increase competitiveness, improve productivity and increase profitability in the secondary mortgage markets.
CONTACT: Paren Knadjian, EVP of Sales & Marketing of Astera Software, +1-818-575-1263, paren.knadjian@astera.com
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