The Pinnacle Companies Select Portellus' LOS, AUS, BRMS and Broker Portal Solutions
One platform provides enterprise agility and flexibility and centralizes business rules and policy management for the firm's multiple business units, 100+ retail branches, 7 fulfillment centers and over 1,250 users
IRVINE, Calif., September 30, 2005 - Portellus Inc., a leading provider of
technology tools and services for the financial services industry, today announced that it has reached an agreement with The Pinnacle Companies LLC, the parent firm of Pinnacle Financial Corporation, Pinnacle Direct Funding Corporation and Pinnacle Commercial Mortgage, to streamline enterprise operations for Pinnacle's retail, wholesale and correspondent lending channels. The combination of Portellus' loan origination system (LOS), automated underwriting system (AUS), business rules management system (BRMS) and various portal offerings will enhance the ability of Pinnacle's multiple business units to respond quickly to marketplace changes via one integrated solution.
Jeff Vratanina, vice chairman and director of The Pinnacle Companies, noted, "We performed our due-diligence and reviewed numerous leading technology vendors before signing this deal. None of them were able to provide the complete, integrated solution that Portellus offers with its mortgage solutions framework. It's a powerful and highly flexible decisioning platform that is fully integrated with a robust end-to-end loan processing system."
Vratanina added: "Initially, we were going to try to tie various best-of-breed technologies together from different vendors, until we looked at Portellus' integrated end-to-end solution. In addition to their powerful rules engine and out-of-the-box LOS modules, which already are a collection of best-of-breed functionality, their open XML-based platform and service-oriented architecture offer us the flexibility we need to easily integrate with any external service providers. Cementing the deal for us was Portellus' outstanding track record, references, and testimonials from
satisfied customers."
Portellus' decisioning platform delivers pre-qualifications, product pricing and eligibility, credit management; deal structuring and fully automated underwriting
approvals to the point-of-sale for Pinnacle's brokers, loan officers and
correspondents affiliates. In addition to the various portal solutions, TPC's Retail, Wholesale and Correspondent residential mortgage platforms will utilize Portellus' Web-based LOS, to seamlessly integrate their 100+ locations, seven fulfillment
centers, and over 1,250 users. All of Pinnacle's users will be empowered by shared, yet personalized, real-time views of loan files and workflow pipelines. They will also realize significant benefits from the streamlined loan processing functions available throughout each of the various loan processing stages.
Pinnacle's underwriting rules will be powered and centrally managed by
Portellus' BRMS, which empowers Pinnacle's internal business with the on-demand change management necessary to efficiently create and maintain rules without the need to heavily rely on its IT department. The BRMS saves time, reduces
maintenance costs and brings new products or pricing updates to market in
hours - not weeks or months. As a result, a very flexible infrastructure is created that provides significant competitive advantages for each of The Pinnacle
Companies.
"Our complete solution is ideal for a company of Pinnacle's complex composition," remarks John Le, CEO of Portellus. "Our open, scaleable and highly customizable mortgage solutions framework enables them to quickly tailor the
solution to their unique operational requirements. They can implement timely changes on an as-needed basis and seamlessly integrate with any existing internal systems or external third party service providers of their choosing."
Le added: "We are laser-focused on delivering tomorrow's next-generation lending solutions today. Forward-thinking lenders such as Pinnacle are embracing it in order to remain agile and competitive in the ever-changing marketplace of today."
Portellus will be offering demonstrations of its suite of mortgage solutions at the 92nd Mortgage Bankers Association Exposition and Conference in Orlando,
October 23 - 26, in booth 636.
About The Pinnacle Companies
Established in 1988, The Pinnacle Companies, (TPC) has evolved into a "family" of financial service companies by focusing on delivering flexible products and services, innovative technology, complete customer care, and proactive communications to its customers and clients.
The financial services companies include residential mortgage lending, commercial mortgage lending, title insurance, personal line insurance, investment and asset management companies all of which compliment the residential mortgage lending and commercial mortgage banking platforms.
Headquartered in Orlando, Florida TPC and its family of companies have offices nationwide. Pinnacle Financial Corporation (www.pinnaclefinancial.com) is among the nation's fastest growing, independently owned mortgage bankers employing more than 1,100 people with offices from coast to coast. PFC is projected to close more than $5 billion in residential mortgage loans in 2005.
Pinnacle Direct Funding Corporation (www.pdfc.com) provides lending options for the wholesale and correspondent market segments. PDFC was established with a simple premise in mind: to support and respond to the needs of "Non-Prime" mortgage loan originators. With its electronic enabler, Proactive PETE, and its web-enabled wholesale and correspondent platforms, PDFC has streamlined the origination process, increased loan production, reduced operating costs and improved customer service for its clients. PDFC is projected to close on nearly $1 billion in loan originations for 2005.
Pinnacle Commercial Mortgage (www.PCMNationwide.com) delivers Alt-A small balance commercial lending programs for retail, office, mixed-use, and multi-family needs. PCM has built its product set and infrastructure to respond specifically and exclusively to the small balance commercial lending needs of the broker and banker community.
About Portellus
Headquartered in Irvine, Calif., Portellus Inc. is a leading provider of technology solutions and services for the mortgage banking and insurance industries. The company's Decision Management solution, Enterprise Rules Management (ERM) solution, Mortgage Solutions Framework, Point-of-Sale Portals and Insurance Rating and Underwriting Engine utilize Service-Oriented Architecture (SOA) to seamlessly integrate with existing systems and enable clients to gain competitive advantages, reduce costs, mitigate risk, increase profitability, adhere to compliance regulations 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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