![]() ILOG & Tavant partner on mortgage-lending solutionsPublished on Wed, Nov 01, 2006 at 15:17 | Source : Moneycontrol.com Updated at Wed, Nov 01, 2006 at 20:18
ILOG® (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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