Wachovia launches web-based loan origination system

摘要

In a move it says will double productivity in its Lending operations within two years, Wachovia Mortgage has implemented the Impact Mortgage Services Suite, a web-based mortgage fulfillment system from New Jersey-based Palisades Technology Partners. Tom Wood, director of operations for Wachovia's Mortgage Group, names features such as work queues, task management, and processing alerts as key items in improving the lender's productivity. The Impact Mortgage Suite modules include Point-of-Sale, Prequalification, Processing, Underwriting, and Closing. All told, about 450 employees will use Impact by the third quarter of 2005. Wachovia plans to rollout the application to an additional 1,000 users in 2006, including loan officers at recently acquired SouthTrust.