Accounting and Financial Software
Software facilitates pool delivery management.
Press Release Summary:
Enabling secondary marketing and operations departments to streamline due diligence and pool delivery process, web-based Astera Delivery Manager System helps define and manage processes based on seller workflow and investor requirements. Customizable program can automatically generate tasks and assign them to users based on business process workflow and task assignment model. System maintains history of actions, and provides due diligence status for sellers and investors.
Original Press Release:
Astera Software Introduces Delivery Management System
New Application Offers Improved Workflow and Pool Delivery Management
SAN DIEGO, March 29 / -- Astera Software, a provider of products and services to the secondary mortgage market, announced today at the MBA National Technology Annual Conference and Exp the release of its Astera Delivery Manager (ADM) system, which will allow secondary marketing and operations departments to streamline the due diligence and pool delivery process.
ADM is a Web-based platform that is highly customizable and helps define and manage processes based on seller workflow and investor requirements.
"The due diligence process is a very resource hungry practice, but its complexity is primarily to do with task management and communication issues," said Paren Knadjian, executive vice president of sales and marketing at Astera Software. "ADM allows the sellers and investors, or their agents, to define, manage and control all the operations involved in this workflow, in a way that maximizes efficiency and shortens the lifecycle. It was only natural for us to develop this product to enhance the suite of systems that we offer the secondary market and show our continued commitment to creating efficiency in the industry."
Knadjian added that "the systems logging and reporting capability also allows mortgage bankers to have an improved understanding of the criteria that individual investors have for buying loans, thereby reducing the number of stipulations and kick-backs."
ADM can automatically generate tasks and assign them to system users based on the business process workflow and the task assignment model defined by operations managers. The system has a unique visual-based designer for defining workflow, and it maintains a complete history of actions performed on the loans and pools and provides due diligence status for sellers and investors.
"As the dust continues to settle after our most recent refi boom and origination volumes continue to dip, the secondary market becomes even more important because mortgage bankers are looking to get those extra few basis points for each loan they sell," Knadjian said. "When you have fewer loans to sell, the execution price becomes even more crucial."
About Astera Software, Inc.
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, brokers and servicing acquisition departments; and the 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.
For more information on Astera Software, please contact Paren Knadjian, 818.575.1263 or paren.knadjian@astera.com.
CONTACT: Paren Knadjian, EVP, Sales and Marketing of Astera Software, Inc., +1-818-575-1263, paren.knadjian@astera.com
