Lenders First Choice Selects webMethods Fabric 7.0
May 1, 2007
webMethods, Inc. (Nasdaq: WEBM), a business integration and optimization software company, revealed that Lenders First Choice, a provider of settlement services and title insurance, has selected webMethods Fabric 7.0 as its next generation platform for developing its new title insurance and settlement services application.
webMethods Fabric is being used by Lenders First Choice to create a custom, state-of-the-art application through which tens of thousands of orders will be processed each month. Because Lenders First Choice provides numerous products and services to hundreds of lenders nationwide, and because the mortgage business is regulated at the national, state and local level, the new application requires a robust developmental platform on which to be built. Lenders First Choice chose webMethods Fabric 7.0 precisely because it meets their strict developmental needs.
"Our new title insurance and settlement services application will set the industry benchmark for what mortgage lenders should expect from their title and escrow provider. With its deployment, Lenders First Choice will further differentiate itself as offering the industry's fastest, most reliable and most comprehensive service," Norman E. Gottschalk III, senior vice president, Application Development, Lenders First Choice. "By building this application on webMethods Fabric, we're able to more easily develop automated processes within the new application; integrate with lenders and third-party providers; create flexibility within the application to meet the ever-changing regulatory requirements; and maintain the accuracy and service levels that mortgage lenders expect from Lenders First Choice."
By building its title insurance and settlement services application on webMethods Fabric 7.0, Lenders First Choice will further automate and institutionalize existing processes for improved reliability, efficiency and compliance. More specifically, webMethods Fabric is being employed by Lenders First Choice to:
- Reduce processing costs through out-of-the-box integration with government agencies, which makes it possible to expand usage of automated electronic fillings and other cost-saving approaches.
- Streamline fulfillment with more adaptive business processes that can automatically comply with the unique filing and underwriting requirements associated with each transaction.
- Ensure that commitments and deadlines are consistently and accurately met by providing customers and vendors with real-time visibility into process status.
- Maintain operational compliance with applicable industry and regulatory mandates through the integrated use of an automated Business Rules Management System.
- Improve employee productivity and accuracy through the use of AJAX-based composite applications to consolidate multiple applications into a single, role-based user workspace.
As the platform is based upon a service-oriented architecture (SOA), existing business processes can also be easily reconfigured to deliver new, highly targeted and customized products and services.
Source: webMethods, Inc.