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ILOG & Tavant partner on mortgage-lending solutions
Published on Wed, Nov 01, 2006 at 15:17   |  Updated at Wed, Nov 01, 2006 at 20:18  |  Source : Moneycontrol.com

ILOGŪ (NASDAQ: ILOG; Euronext: ILO, ISIN: FR0004042364)  and  Tavant  Technologies  today  announced  an agreement to partner on mortgage lending solutions. Tavant will leverage ILOG JRules?, a key  offering in ILOG's business rule management system (BRMS) product line  which  is  already  used widely in the mortgage lending space - as a key component  of  Tavant  Mortgage  Solutions,  a  service  that combines deep mortgage  domain  expertise,  pre-built functionality components and global delivery  to  help  lenders rapidly build and enhance existing origination, servicing  and capital market systems. The two companies also announced the successful deployment of a sales automation solution at Ameriquest Mortgage Company.

 


Tavant  has  deep  expertise  in  working  with mortgage lenders to develop solutions  for  achieving higher lead conversion rates, lowering processing costs  per  loan, optimizing key servicing indicators such as default rates and minimizing the cost of securitization. The company has accumulated more than  2500  person-years  of  application development experience across the entire  mortgage lifecycle. For the Ameriquest deployment, Tavant used ILOG JRules  as  a key component in the development of a scalable and extensible SOA-based  solution  for  automating  and  integrating the end-to-end sales process, including lead management, credit review, loan proposal generation and receipt of borrower commitment.

 

"The  solution  developed  by  Tavant  and  ILOG  has helped us operate our business  more  efficiently,  making  faster  and  more consistent business decisions,   responding  more  quickly  to  customers,  and  adapting  more effectively  to  changing  business  conditions,"  said Mark Sarago, CIO at Ameriquest Mortgage Company. "With Tavant's services and software solutions from ILOG, we were able to take a more holistic, cost-effective approach to our  infrastructure  and implement a service-oriented architecture that has increased  our  agility, ensured long-term value and lowered the total cost of ownership."

 

According  to  TowerGroup,  BRMS  is  a  key  infrastructure  component for supporting   lending   operations,   including   loan   origination,   loan underwriting, funding and closing, servicing, and portfolio management.

 

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