LOS Provider Sets Sights on Automated Product Eligibility Processing

Gallagher Financial Systems, Inc. (GFS), a provider of enterprise Loan Origination System technology, and IntraPrise Solutions, Inc. (ISI), a software solutions managed services and software products provider, said the two companies have formed an alliance to use Merit Matrix Connect (MMC) to automate business rules for product eligibility during loan origination. Merit Matrix, a loan product eligibility information outsourcing service, is ISI’s flagship product. MMC integrates the investor lending guide information compiled by Merit Matrix with the workflow/pipeline management technology of GFS to offer a fully automated system to their mutual customers.

GFS said it has developed a process to import the product eligibility business rule data from Merit Matrix’s search engine directly into the company’s NetOxygen business rule designer. The resulting product eligibility rules are made available directly to the customer’s .NET NetOxygen lending platform, eliminating the need for customers to manually enter their lending guide into a machine-readable format within a rules engine. As new rules are added, the existing ones remain valid because the integrated system has been engineered to accommodate multiple versions of business rules. “The rules are automatically updated by the system,â€? explained Don Hubert, vice president of External Services at GFS. “Not only does this solve the problem of having out of date rules due to the inability to keep up the maintenance, but it also allows rules to be changed as of a specific date. This gives lenders the ability to have loans in the pipeline that are always qualified against the correct set of business rules.â€? GFS said it plans to offer this new interface as part of its base product to new customers, and will work with their existing customers who may be interested in converting their product eligibility rules to use this interface. The first company to take advantage of the new technology is planning to deploy in a production environment some time in the first quarter of 2007.

Most Popular Articles

3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please