WSFS Bank Selects Metavante's Mortgage Loan Origination and Processing from GHR Systems; Fully automated mortgage technology sa
29 March 2006 - 9:22AM
Business Wire
Metavante Corporation, the financial technology subsidiary of
Marshall & Ilsley Corporation (NYSE:MI), today announced that
WSFS Bank has extended its relationship with Metavante by licensing
its Web-based Loan Origination Studio (LOS), Point-of-Sale (POS)
origination systems for Consumer Direct and Wholesale Origination,
the Enterprise Reporting System and its integrated third-party
services platform, Loanportal. WSFS Bank, a Metavante client,
selected both the online POS and LOS solutions for origination,
processing and closing from Metavante's GHR Systems, Inc. WSFS will
use the POS solutions for its retail and wholesale mortgage
originations, and loan applications will be processed through the
LOS platform. GHR's LOS provides significant increases in
efficiency for lenders by combining a single, central database with
comprehensive loan processing capabilities, including business
process management automation, service ordering and the ease of
moving data and documents from the point-of-sale to closing. "We
selected GHR because their solutions will provide us with the
functionality and scalability that we need to achieve our corporate
goals," said Deborah T. Roberts, senior vice-president of Consumer
Lending at WSFS Bank. "GHR's technology will help us to automate
our entire mortgage operation and significantly reduce processing
time." With GHR's Consumer Direct Website, WSFS and its retail
banking customers will have access to a fully-secured,
private-labeled website that provides self-service mortgage
origination capabilities to consumers directly via the Internet.
Consumer Direct combines customer support tools, on-site resources
and relationship management services that help lenders reduce
origination costs while improving customer satisfaction and
retention. GHR's Wholesale Origination Website is a comprehensive,
interactive and secure, broker-centric system designed to provide
self-service for the WSFS wholesale broker community. Brokers can
efficiently submit and manage an entire pipeline of loans while
viewing real-time loan status information, conditions and loan
notes directly from GHR's LOS product. The Enterprise Reporting
System (ERS) solution extracts data from GHR and non-GHR systems to
instantly create dynamic, customized reports with unlimited
research capabilities and graphical presentation. GHR's ERS will
enable WSFS to access, filter and modify the layout of information
in real-time, providing managers with a powerful and flexible
reporting capability. Loanportal is GHR's centralized web-based
transaction gateway that offers WSFS Bank access to third-party
services such as credit reports, flood certifications, title
orders, Automated Property Valuations (AVM) and full appraisals, as
well as secondary market investor automated underwriting systems.
"Being able to provide a comprehensive LOS that is integrated with
Metavante's Integrated Banking system will provide WSFS, as well as
its consumer and broker customers with considerable operational
efficiencies," said Cy Brinn, president of GHR Systems. "We look
forward to being a vital part of the company's continued growth."
About WSFS Bank WSFS Financial Corporation is a $2.7 billion
financial services company. Its principal subsidiary, Wilmington
Savings Fund Society, FSB, operates 25 retail banking offices in
all three counties in Delaware, as well as Chester and Delaware
Counties in Pennsylvania. Other operating subsidiaries include WSFS
Reit, Inc., WSFS Investment Group, Inc. and Montchanin Capital
Management, Inc. For more information, please visit the Bank's
website at www.wsfsbank.com. About Metavante Metavante Corporation
provides loan origination, processing and closing systems for the
residential mortgage, consumer and small business lending
industries through GHR Systems, Inc., a Metavante company. GHR's
systems are used by large, mid-sized, and emerging lenders to
better market, sell and close loans through all distribution
channels, including wholesale, retail, consumer direct and
correspondent. Four of the Top 10 U.S. Mortgage lenders use GHR's
systems. GHR is a Microsoft Gold Certified Software Development
Partner. For more information, please visit www.ghrsystems.com.
Metavante Corporation is redefining banking and payments to
financial services firms and businesses worldwide. Metavante
products and services drive account processing for deposit, loan
and trust systems, image-based and conventional check processing,
electronic funds transfer, consumer healthcare payments, and
electronic presentment and payment. Headquartered in Milwaukee,
Metavante (www.metavante.com) is wholly owned by Marshall &
Ilsley Corporation (NYSE:MI). Metavante is a registered trademark
of Metavante Corporation.
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