GRAND RAPIDS, Mich., April 19, 2001 (PRIMEZONE) -- Greatland Corporation announced today plans for a new release of its E-Loan Delivery Solution, with new functionality for business managers at lending institutions with high loan-processing volumes. This new functionality combines access to more than 2,000 mortgage-related documents with e-signature capabilities and the option of on-site or Internet-based application delivery.
Lending institutions will have the options of maintaining their own technology or having Greatland host the application through an ASP model. Based on XML technology, Internet-based E-Loan Delivery reduces the time and cost associated with loan processing and frees IT organizations from application maintenance.
"An E-Loan Delivery System will make the loan approval process faster," said Mark Schilickman, co-owner of Franklin Mortgage, a subsidiary of Farm Bureau Insurance. "Downloading documents from an application service provider would save time, and I would have the security of knowing that all of my loan documents are going to be compliant."
E-signature capabilities will also be available. Through partnership with Ilumin Corporation, loan data is merged with compliant forms and delivered over the Internet to an online signing room, where authenticated participants can originate, view, modify and sign their lending documents.
"The E-Loan Delivery solution provides lending institutions with the peace of mind that their loan documents are going to be available and compliant," said Ken Carpenter, vice-chairman, Greatland Corporation. "Using an ASP model expedites the loan process and allows organizations to focus on loan volume, not loan technology."
Greatland's E-Loan Delivery solution will integrate with any loan origination system, particularly those focused on accommodating high-volume loan origination.
Pricing and Availability
Greatland E-Loan Delivery Solution with remote hosting capabilities will be available April 16, 2001. E-signature capabilities will be available in September 2001. Pricing is based on loan volume and starts at $10,000.
About Greatland
Greatland develops products for the tax, accounting, and financial services industries, including government-approved tax forms in both printed and electronic media; electronic tax return filing software and services; documents for financial institutions, including electronic document solutions; and laser check-writing software. Since its inception in 1974, Greatland has been committed to providing customers with superior products and services. For more information about Greatland Corporation, call (800) 968-1099, or visit www.Greatland.com.
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CONTACT: Greatland Corporation
Rico L. Cammon, Public Relations Specialist
(800) 968-0678, ext. 4310
Rcammon@greatland.com