FMF Capital Goes Live With Portellus' LOS and ERM Solutions
Phased implementation approach allows FMF to realize faster ROI
IRVINE, Calif., July 11, 2006 Portellus Inc., a leading provider of technology solutions for the financial services industry, announced that FMF Capital, a national wholesale mortgage lender, has gone live with the first phase of its loan origination system (LOS) and enterprise rules management (ERM) solution. Portellus' phased delivery method allowed FMF to immediately utilize baseline functionality modules while also configuring the platform to meet the lender's unique customization requirements.
"Using a phased approach to the implementation enabled us to take advantage of Portellus' out-of-the-box functionality so we could realize the greatest value in the shortest period of time," said Jason Marx, senior vice president of operations at FMF Capital. "This provided for ample time to configure the system to our specific business needs while simultaneously using it in a production environment to gain immediate benefit."
Portellus' ERM system automates FMF's pricing, product eligibility and underwriting guidelines, and empowers their business users with on-demand change management capabilities. As a result, FMF's total cost of ownership is reduced and new product/pricing updates can be rolled out in hours to capitalize on marketplace dynamics.
Marx added: "It was critical that we select the right solution to ensure that our investment would have the longevity to flex with our business and changing marketplace conditions. FMF conducted a rigorous three part due diligence process of prospective vendors that included thorough reviews of each vendor's technology, implementation capabilities, business plan and financial viability. Portellus passed these requisites with exemplary marks and began delivering their solution immediately, and with minimal disruption to our business."
"In an increasingly tough market where even a slight operational slip can be very hard on any organization, lenders have to be very discriminating when selecting a long term mortgage technology partner," said John N. Le, chairman and CEO of Portellus. "The fact that we implemented multiple platforms concurrently in the same time frame typically ascribed to single system vendor implementations speaks very well to Portellus' solid delivery method."
FMF will also be introducing Portellus' broker portal solution to their customers within the next 60 days.
About FMF Capital
FMF Capital Group Ltd., headquartered in Southfield, Michigan, has branch offices in Nashville, Tennessee, and Virginia Beach, Virginia. FMF Capital is a residential mortgage lending company that originates and funds primarily nonconforming or "nonprime," mortgage loans in the United States and sells those mortgage loans to institutional loan purchasers. FMF Capital originates its mortgage loans through a network of more than 5,000 independent mortgage brokers.
About Portellus
Headquartered in Irvine, Calif., Portellus Inc. is a leading provider of next-generation technology solutions for the financial services and insurance industries. The company's Decision Management, Enterprise Rules Management (ERM), Loan Origination and Portal solutions utilize a service-oriented approach to deliver loosely coupled applications and flexible solutions, enabling clients to gain competitive advantages, reduce costs, mitigate risk, increase profitability, comply with regulatory requirements and swiftly enter new markets. For more information, visit www.portellus.com or call 949-250-9600.
- CONTACT:
- Joe Bowerbank
- Portellus, Inc.
- 949.250.9600, ext. 250
- jbowerbank@portellus.com
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