Associated Software Consultants Inc. (ASC) has made available its PowerSeller Secondary Marketing and Risk Management System and related training, installation and configuration services on a subscription basis.
Previously only available through a one-time license fee due upon installation, the system and services can now also be implemented by mortgage lenders with a greatly reduced up-front investment and subsequent quarterly payment commitment, ASC says. The goal of this new payment alternative is to make it easier for all mortgage lenders to acquire tools that will help them more effectively manage commitment and trading activities.
As part of the PowerSeller subscription payment option, mortgage lenders receive a reduced up-front fee and are able to pay the remainder of the license fee and set-up costs over a three-year (12-quarter) period. Upon completing the third year of payments, users can expect a sizable reduction in the quarterly payments to cover ongoing system support.
PowerSeller includes four different management modules that can be combined and customized as needed for each lending institution. The primary modules, Data Manager and Secondary Manager, provide core secondary marketing functionality. Supplementing these modules are optional Risk Manager and Post Closing Manager modules, which provide users with greater efficiency and scalability through pipeline analysis and document tracking, according to the company.
Source: Associated Software Consultants