Accounting and Financial Software
Portellus Delivers Its Enterprise Rules Management System to Homefield Financial
Share:
Solution Automates Homefield's Prequalification and Pricing
IRVINE, Calif.--Sept. 15, 2006--Portellus Inc., a leading provider of technology solutions for the financial services industry, announced that Homefield Financial Inc., a national wholesale and retail mortgage banker, is in testing with its enterprise rules management (ERM) system. The solution will be used to extend pricing, prequalification and automated underwriting approvals to the point-of-sale via the lender's broker portal.
The ERM system drives greater agility and flexibility around Homefield's prequal and pricing solution. Through the use of a user-friendly rules editing interface, non-technical business users are empowered to author, maintain, test and deploy business rules in plain English. As a result, burdening IT administrators to routinely make time-consuming changes to application code is circumvented, allowing Homefield to achieve newfound agility and drastically reduce its total cost of ownership. The system also dramatically reduces the lender's total cost of ownership, saving in annual maintenance costs.
"Portellus' ERM system enables us to respond very quickly to changing marketplace conditions, which we feel is a huge advantage," said Nick Roumi, president of Homefield Financial. "It's clear that wholesalers are currently operating in a cut-throat market that has savvy brokers aligning themselves with the lenders who not only have the best products and service, but also the best point-of-sale tools to help them close more loans faster. Portellus' technology allows us to turn on a dime and provide critical real-time info internally and externally."
Roumi added: "We evaluated the typical cadre of AUS vendors very diligently, and found Portellus was able to offer the type of flexible on-demand change management solution that could enhance our product and pricing capabilities. Because the system is not hard-coded and is built using service-oriented architecture, it seamlessly integrates with our LOS and third-party service providers, allowing us to realize greater value from our existing applications."
"To demonstrate the flexibility and configurability of our ERM system, we invited Homefield into our onsite Customer Readiness Lab (CRL) for an up-close product evaluation," said John N. Le, chairman and CEO of Portellus. "In the CRL, we created a step-by-step user defined experience for Homefield that showcased a real-world demonstration of solution capability as it pertained to their unique business model. This allowed Homefield's users to experience first-hand how to configure their own rules and enforce organizational procedures, regulations, external data, point-of-sale functions and more. The results demonstrated solution viability and a clear ROI; we subsequently inked a deal that effectively mitigated Homefield's risk."
About Homefield Financial
Homefield Financial Inc., operating as a mortgage banking company based in Irvine, provides innovative financing for acquiring, refinancing and improvement of U.S. residential property, including single-family homes, condos and multi-unit developments. With over $2.5 billion in annual mortgage volume, Homefield Financial has been recognized by Inc. Magazine for the second consecutive year as one of the Inc. 500 fastest-growing private companies in the country. Homefield has been able to continually achieve by offering innovative products to underserved markets utilizing industry-leading technology to fund loans quickly and with agility. Their mortgage products are brought to market using a variety of distribution channels, including the direct-to-consumer retail division, the continually expanding wholesale division and their broker partnerships, and through the newly established purchase group dedicated to realtors.
About Portellus
Headquartered in Irvine, Portellus Inc. is a leading provider of next-generation technology solutions for the financial services and insurance industries. The company's Decision Management, Enterprise Rules Management (ERM), Loan Origination and Portal solutions utilize a service-oriented approach to deliver loosely coupled applications and flexible solutions, enabling clients to gain competitive advantages, reduce costs, mitigate risk, increase profitability, comply with regulatory requirements and swiftly enter new markets. For more information, visit www.portellus.com or call 949-250-9600.
Contacts
Portellus Inc.
Joe Bowerbank, 949-250-9600, ext. 2250
jbowerbank@portellus.com
or
Homefield Financial
Marc Gerdemen, 714-619-7894
marc.gerdeman@homefield.com
