Clayton Selects Portellus to Enhance Conduit Fulfillment Portal
Solution enables conduits to fund non-conforming loans faster
IRVINE, Calif., Oct. 19, 2005 - Portellus Inc., a leading provider of technology tools and services for the financial services industry, today announced that Clayton Holdings, Inc., one of the industry's largest providers of transaction management, due diligence, credit risk management, portfolio analysis, compliance and consulting services, has entered into an agreement with the company to enhance Clayton's conduit fulfillment portal with private label automated product eligibility, selection, pricing and locking features using Portellus' automated Business Rules Management System (BRMS) solution. Together, the solutions will help Clayton clients to streamline and accelerate the electronic delivery, due diligence, and processing of loans to the secondary market.
Clayton's conduit platform allows sellers to utilize its Web portal to electronically submit data on individual loans, mini-bulks and forward commitments to Clayton clients to render an automated decision for product eligibility, pricing and locking.
"Clayton works with a number of technology partners to customize solutions to fulfill our clients' needs," said Patrick Barber, Clayton's vice president. "The selection of Portellus is a great addition to our stable of partners because it combines the powerful decisioning and accessibility of Clayton's Loan Analysis System (CLAS) and Portellus' BRMS to bring added value to our clients. This ability to bring together buyers and sellers creates a unique, collaborative environment that streamlines processes and helps both parties improve the timeline to decision making."
Residing behind the portal solution is Portellus' BRMS, which will enable Clayton's clients to effectively and rapidly manage investor guidelines and rules, as well as create new rules with less technical support.
"Portellus is pleased to have been selected for this unique technology project," said John Le, CEO of Portellus Inc. "Unequivocally, Clayton will be a great long term client and alliance partner to work with."
The entire solution is built on Portellus' open Mortgage Solutions Framework that enables the use of service-oriented architecture for easy integration and communication with disparate applications and third-party service providers.
Portellus will be offering demonstrations of its suite of mortgage technology solutions at the 92nd Mortgage Bankers Association Exposition and Conference in Orlando, October 23 - 26, in booth 636.
About Clayton
Clayton Holdings, Inc. brings the most comprehensive set of sophisticated analytic and information-based solutions to clients who buy, sell and manage loans and securities. Clayton's leadership in creating a patent-pending risk filtering process and use of automation and decision support technologies creates dramatic efficiencies and risk mitigation in transaction management and oversight. Clayton's clients include leading capital markets firms, banks and lending institutions, fixed income investors, security issuers and insurance companies. The company has supported transactions totaling over $2.1trillion in principal value, monitors $1 trillion (original balance) in securities under management, reviews 1 million loans annually and maintains the performance data on over 4 million loans. Clayton's integrated suite of analytic solutions includes Transaction Management, Due Diligence, Fixed Income Services, Credit Risk Management, Compliance software, Consulting and Advisory services. For more information, visit www.clayton.com.
About Portellus
Headquartered in Irvine, Calif., Portellus Inc. is a leader in the application of Service Oriented Architecture (SOA) for the mortgage banking and insurance industries. The company's Decision Management Solution, Business Rules Management System, Mortgage Solutions Framework, and Rating and Underwriting Engine seamlessly integrate with existing systems to enable clients to gain competitive advantages, reduce costs, increase profitability, mitigate risk, and quickly launch new products/pricing to penetrate new markets. For more information, visit www.portellus.com or call 949-250-9600.
- CONTACTS:
- Joe Bowerbank
- Portellus, Inc.
- 949.250.9600, ext. 250
- jbowerbank@portellus.com
- James Collie
- Clayton Holdings, Inc.
- 203.926.5681
- jcollie@clayton.com
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