As lenders increasingly seek out flexible, cost-effective solutions during the market downturn, Avista's 2008 volume increased 15%, bringing total volume to $215 billion.
Avista Solutions, a loan origination software (LOS) provider celebrating eight years of business this month, says it has experienced record growth in both new customers and overall volume despite the troubles the mortgage industry has experienced nationally.
The company upped its volume by 15% in 2008, with a total increase of 189,000 loan applications, representing $28 billion in additional volume. Avista Solutions' complete volume figure for 2008 was about $215.18 billion, with its system handling almost 1.3 million loan applications over the year.
Based on Avista Solutions' new customer additions and volume increases thus far in 2009, the company expects to see further growth and success over the remainder of the year. As of the end of February, Avista Solutions has processed 255,000 loan applications totaling $45 billion in volume in 2009.
SOURCE: Avista Solutions