Open Rule Systems of Grapevine, Texas, provides the most advanced automated loan origination technology in the industry with its Application Process Manager (APM) solution. APM enables lenders to create and automate underwriting, scoring, and decisioning rules while managing the entire origination process flow. VantageILM of Altadena, Calif., provides the lending industryâs only purely web-based Software as a Service (SaaS) full-lifecycle loan management system, from origination through servicing, collections, and recovery.
The two companies have initially built an XML-based interface between APM and VantageILM that moves all data from APM-generated originations directly onto the VantageILM servicing platform. The data flows automatically, over the web, and because the integration is direct, every nuance of the origination process flows through to the servicing, collections, recovery and portfolio management functions. The tight integration also enables advanced performance analytics â every tweak to an underwriting program can now be easily measured against actual servicing performance, using the analytical tools that have long been a part of VantageILMâs solution.
âVantageILM has always provided a robust origination capability,â said Robert Yuan, president and Chief Technology Officer of VantageILM. âThough weâre always looking to advance our platformâs capabilities and like everybody else, we look at building internally vs. using proven, existing technology, if available. Open Rule with APM has built the best origination technology weâve seen, so integrating was an easy choice.â
Robert Skidmore, president of Open Rule, agrees that the integration makes strategic sense. âMaking it really simple for our customers to move loan origination information from APM to an advanced servicing platform has long been a goal for Open Rule, âsaid Skidmore. âVantageILM meshes perfectly, and the automated combination of the two platforms will be a big win for customers.â
The XML integration technology is available immediately. Please contact either Open Rule Systems or VantageILM for further information.