ARC Systems and the National Credit Reporting Association announce new interface
Extensive access benefits clients and credit reporting agencies by opening portals to more options for credit information
Austin, TEXAS and Bloomingdale, Illinois - Sept. 19, 2005 - ARC Systems™ has expanded its source for credit reporting relationships through a new partnership with the non-profit National Credit Reporting Association (NCRA). NCRA and CDS Mortgage Reports, Inc., (a joint venture) will offer a preferential connection to ARC Systems. The new interfaces built into ARC Systems' award-winning LendTech™ and Loan Finder Express® products will provide clients with access to more than 150 credit reporting agencies, and NCRA members will be able to maintain established relationships.
"By offering an interface to a wider range of credit reporting agencies, this opportunity will add significant value to ARC Systems' clients because they'll be able to maintain their long-standing relationships with their own clients," Ed Jones, chief executive officer of ARC Systems said.
NCRA members will have direct access to a portal that provides a connection to ARC Systems' clients who want to obtain their credit reporting services. ARC Systems' clients will benefit by being better able to accommodate their unique business needs because of the greater flexibility in conducting business with their customers. NCRA members will benefit by having the opportunity to potentially develop new business with ARC Systems clients who want their services. The partnership between ARC Systems and NCRA is similar to a preferred partnership the NCRA currently holds with Fannie Mae, which has been in operation since 1999 to accommodate their Desktop Originator and Desktop Underwriter systems.
"The new program is a great example of the classic win-win as ARC Systems' customers, and the consumers they serve can now obtain access to a network of credit reporting agencies known for the best customer service in the industry." Terry Clemans, executive director for the NCRA, said. Susan Cataldo, President of CDS Mortgage Reports added "CDS is proud that the interface with ARC Systems and that the joint venture with NCRA provides NCRA members a cost effective solution for maintaining their valuable client relationships."
About National Credit Reporting Association
Founded in 1992, the purpose of the National Credit Reporting Association is to promote the general welfare of its members: credit reporting agencies, employment screening services, tenant screening companies and all issuers of consumer reports; as well as the businesses they serve and the consumers whose information they report. This will be achieved by providing leadership in education, legislation, ethics, and enhanced vendor's relations, all in an effort to enable the members to successfully meet the needs of business and the modern consumer under the terms of the Fair Credit Reporting Act.
About CDS Mortgage Reports
Founded in 1993 and headquartered in Atlanta, Georgia, CDS Mortgage Reports, Inc. provides credit reports and a variety of mortgage related products and services to the mortgage industry nationwide. CDS has consistently maintained its focus on well-timed and innovative products and technology while continuing to deliver exceptional and personalized customer service. CDS is proud of their reputation and is driven to maintain their proactive stance in offering mortgage services and programs designed to reduce mortgage loan-processing time and save their clients money.
About ARC Systems
Founded in 1984 and headquartered in Austin, Texas, ARC Systems is a privately held company providing premier decisioning technology to lending institutions and investment and commercial banks across the United States. With the power to make fast, accurate and consistent decisions at the point-of-sale for risk-based pricing and credit evaluation, ARC Systems' products empower clients to make smart business decisions. The company's proprietary, patent-pending, rules-based system is used by lenders to provide direct access to automated underwriting, product/pricing and online loan
origination system functionality to their customers, correspondents and brokers.
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