Irwin Home Equity Taps Portellus for End-to-End Lending Automation Solution
Single processing platform to be used for Irwin's wholesale, retail and correspondent channels
IRVINE, Calif., August 30, 2006 Portellus Inc., a provider of technology solutions for the financial services industry, announced that Irwin Home Equity Corporation (IHE), a subsidiary of Irwin Union Bank and Trust Company (IUBT), which in turn is a subsidiary of Irwin Financial Corporation (NYSE: IFC), has signed with the company to license its loan origination system (LOS), enterprise rules management (ERM) system, and correspondent and broker portal solutions.
"After researching a list of thirty vendors, and then narrowing it down to twelve that could satisfy our needs, we finally selected Portellus because it is a Web-based end-to-end system, it addresses all channels, and we believe it to be the best matched solution for our needs," said Randy Kirkwood, vice president of information services at IHE. "A key business objective at IHE is to have the ability to turn on a dime in order to better respond to changing conditions. Today's market is rapidly changing and positioning for tomorrow's uncertainties requires an organization to run operations with a more flexible and fluid approach."
Portellus' LOS provides workflow automation and establishes enterprise visibility across the retail, wholesale and correspondent lending channels. Portellus' standalone ERM system works to govern the policies, procedures and rules within the LOS, and houses pricing, eligibility and automated underwriting guidelines. The ERM system also pushes various functions to the point-of-sale via Portellus' broker and correspondent portals.
"We spent a significant amount of time with Irwin's technical team in demonstrating the unique capabilities and value proposition of how the engineering of our loan processing, ERM and POS solutions could meet both Irwin's short- and long-term business requirements," said John N. Le, chairman and CEO of Portellus. "We inked the deal, and we're already collaborating toward implementation."
About Portellus
Headquartered in Irvine, Calif., Portellus Inc. is a 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. For more information, visit www.portellus.com or call 949-250-9600.
- CONTACT:
- Joe Bowerbank
- Portellus, Inc.
- 949.250.9600, ext. 2250
- jbowerbank@portellus.com
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