Technology cos. Launch New Service

May 31, 2002

MortgageRamp, RDA To Offer Customized System Design For Commercial Lenders

Charlotte, N.C.-based MortgageRamp, a provider of technology solutions for the commercial real estate industry, announced the creation of a technology services division to provide technology solutions for the financial services industry. The division has formed a relationship with RDA to combine MortgageRamp's industry expertise with RDA's technical proficiency.

"(This division) will be a key element in furthering MortgageRamp's offerings to the financial services industry," said MortgageRamp President Mike Greco.

"Each side has executive sponsorship and is committed to providing the tools, knowledge and industry relationships to enable our customers to vastly improve their business processes," said RDA General Manager of Capital Finance Paul Belski.

The division will provide such services as installation and customization of MortgageRamp software, custom application development, systems analysis and design, database design and development, systems integration, business continuity planning, technology security assessments and network design and implementation.

MortgageRamp's products include a proprietary Web-based technology platform that integrates originating, packaging, underwriting, pipeline management and reporting, closing and delivering commercial mortgage loans. no inflation worries allowed rates to drift downward these last few weeks to the benefit of homebuyers. As a matter of fact, low mortgage rates induced an unexpectedly high level of new and existing home sales last month," said Frank Nothaft, Freddie Mac's chief economist.

"And interest in the 1-year ARMs has been rekindled, as the ARM rates of the last few months rival those of six years ago. The 1-year ARM share of the market has risen to nearly 20 percent in April. At the same time last year, 1-year ARMs accounted for only 10 percent of the market."

Copyright: Inman News Service

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