SOA for lenders

Lenders First Choice has selected a new business process platform, webMethods Fabric, to help process tens of thousands of orders each month. Lenders First Choice provides settlement services and title insurance to regional and national lenders throughout the country.

"Our new title insurance and settlement services application will set the industry benchmark for what mortgage lenders should expect from their title and escrow provider," says Norman E. Gottschalk III, senior VP, Application Development, Lenders First Choice. "By building this application on webMethods Fabric," Gottschalk continues, "we're able to more easily develop automated processes within the new application; integrate with lenders and third-party providers; create flexibility within the application to meet the ever-changing regulatory requirements; and maintain the accuracy and service levels that mortgage lenders expect." According to a recent press release from webMethods, its platform, which is based on a service-oriented architecture (SOA), will be used to:

• reduce processing costs through out-of-the-box integration with government agencies;
• streamline fulfillment with more adaptive business processes that can comply automatically with filing and underwriting requirements;
• ensure that commitments and deadlines are consistently and accurately met by providing customers and vendors with real-time visibility into process status;
• maintain operational compliance with industry and regulatory mandates; and
• improve employee productivity and accuracy by consolidating multiple applications into a single, role-based user workspace.