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Informative Research to Launch OriginatorDirect™ - A new Web-based mortgage information application scheduled for release early next year promises to give credit reporting agencies and wholesale lenders an alternative to costly technology connections and unwieldy
Informative Research to Launch OriginatorDirect™

 

PRZOOM - /newswire/ - Garden Grove, CA, United States, 2007/11/09 - A new Web-based mortgage information application scheduled for release early next year promises to give credit reporting agencies and wholesale lenders an alternative to costly technology connections and unwieldy "out of the box" software packages.

   
 
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OriginatorDirect™, developed by California-based credit information provider Informative Research, will enable mid-sized, or "tier-2" credit reporting agencies (CRAs) to access and share advanced credit reporting technology, as well as other risk reduction tools, without paying licensing fees or altering workflow. The application will also allow lenders to connect to a larger broker audience through a network of credit reporting agency users.

According to Informative Research CIO Abe Chang, OriginatorDirect safely "opens up" his company's proven online credit systems architecture to organizations that crave the performance of tier-1 connectivity, but cringe at the costs associated with purchasing or developing it.

"It's a perfect solution for the smaller CRA," said Chang, "because it takes an extremely reliable, extremely advanced system that we've developed and refined over the past 15 years, and makes it instantly available to an organization that may be leasing or licensing their technology from a software company."

OriginatorDirect will give subscribing CRAs their own private-label credit portal, affording them direct access to the Informative Research Web-based credit system, as well as tradeline verifications, flood determinations, mortgage fraud insurance, automated property valuation and other mortgage-related services.

“More importantly,” stressed Chang, “it will allow these CRAs to give their broker customers instant, direct access to these products and services while virtually eliminating associated development or licensing costs.”

Informative Research New Business Development Manager Donovan Williams, a credit industry veteran and current board member of the National Credit Reporting Association, called the new application “a breakthrough,” and added that it has the potential to "positively and immediately impact any company that uses it."

"It represents the best of both worlds," said Williams. "You've got a credit provider with 60-plus years in the business using its experience, information technology resources and know-how to develop a system for other credit providers. The key here is that we're not trying to shoehorn software that's been designed for another industry into the world of credit; we've designed OriginatorDirect around the world of credit."

According to Williams, wholesale lenders stand to benefit from the introduction of OriginatorDirect as well, because it creates an expanded network of the mortgage professionals serviced by each CRA. “Through this application, a lender can get an unprecedented level of exposure, and market its programs to an audience that may have been previously unreachable due to geography or budget constraints,” Williams explained.

Tested under a pilot program with a Southern California-based CRA in late 2007, OriginatorDirect is slated for official release in January of 2008. Billing will be based on a low, per-transaction fee, and there will be no charge for standard setup. Free training will be provided for all subscribers, the company said.

“The credit you need, the connections you want.”
Informative Research, founded in 1946, is a leading provider of credit and mortgage-related information to the lending community. The company offers credit-reporting services, credit rescoring programs and flood determination products, as well as connectivity to a growing list of primary and secondary market lending channels. Based in Garden Grove, Calif., Informative Research continually develops new technologies and cultivates industry relationships that enable customers to minimize risk, expedite the loan process and increase profitability. For more information, call 800.473.4633, or visit our website.

 
 
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Informative Research to Launch OriginatorDirect™

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Contact: Mark Halloran - InformativeResearch.com 
714-638-2855 x135 markh[.]informativeresearch.com
 
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IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any Informative Research securities in any jurisdiction including any other companies listed or named in this release.

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