ATLANTA, Feb. 8, 2005 (PRIMEZONE) -- Harland Financial Solutions, Inc., a wholly owned subsidiary of John H. Harland Company (NYSE:JH), has formed a technology alliance with The First American Corporation (NYSE:FAF), the company announced today.
Through this alliance, First American's credit reporting, valuation services, flood certificates and title services will be available through Harland Financial Solutions' INTERLINQ(r) E3 loan production platform.
"We are dedicated to providing our customers with the best products and services in the mortgage industry and to integrating those products directly into the E3 environment as highly efficient Web services," said Joe Filoseta, vice president of industry and product strategy for Harland Financial Solutions' Mortgage Solutions Group. "Through our alliance with First American, our E3 customers will enjoy quality service and support levels, and will ultimately recognize a reduction in the cost to originate loans."
The INTERLINQ E3 Web-based loan production platform provides critical business process management, integration and connectivity across the mortgage supply chain, enabling lenders to integrate service providers into their business process. More than 400 mortgage lenders have chosen the E3 system, which was released in the first quarter of 2004.
"Our relationship with Harland Financial Solutions and its E3 technology greatly expands the availability of the electronic ordering and delivery of our products and services," said Bill Sherakas, national marketing and sales director for The First American Corporation. "INTERLINQ E3 clients now have direct, secure and immediate electronic accessibility to our suite of origination services."
One client is 1-800 East/West Mortgage Co., Inc., a subsidiary of Commerce Bank & Trust Company of Worcester, Massachusetts.
"The integration of INTERLINQ E3 with First American's credit and flood services represents an important development for both East/West and Harland Financial Solutions," said Mark Olsen, president of 1-800 East/West Mortgage Co., Inc. "The new interface will allow East/West to eliminate redundant data-entry and improve operational security."
Olsen added that "Currently East/West employees order credit and flood reports through First American's Web site, which requires them to log on separately and re-key loan data. This is time-consuming and can result in loss of data integrity. By requesting a First American service from within INTERLINQ E3, we will completely streamline the process and reduce administrative work."
Olsen indicated that East/West is currently testing the interface and expects to use it as soon as it is certified.
About First American
The First American Corporation is a Fortune 500 company that traces its history to 1889. As the nation's largest data provider, the company supplies businesses and consumers with information resources in connection with the major economic events of people's lives, such as getting a job; renting an apartment; buying a car, house, boat or airplane; securing a mortgage; opening or buying a business; and planning for retirement. The First American Family of Companies, many of which command leading market share positions in their respective industries, operate within six primary business segments, including: Title Insurance and Services, Specialty Insurance, Mortgage Information, Property Information, Credit Information and Screening Information. With revenues of $6.21 billion in 2003, First American has 30,000 employees in approximately 1,800 offices throughout the United States and abroad. More information about the company and an archive of its press releases can be found at http://www.firstam.com.
About Harland Financial Solutions
Harland Financial Solutions (http://www.harlandfinancialsolutions.com) supplies software and services to thousands of financial institutions of all sizes, offering its solutions in both an in-house and service bureau environment. Harland Financial Solutions is a leader in deposit & loan origination, platform, teller, call-center, mortgage, business intelligence, core systems, check imaging, item processing, document management, customer relationship management, and compliance training software.
About Harland
Atlanta-based John H. Harland Company (NYSE:JH) (http://www.harland.net) is listed on the New York Stock Exchange under the symbol "JH." Harland is a leading provider of software and printed products to the financial institution market. Harland's software solutions include, deposit & loan origination, platform, teller, call-center, mortgage, business intelligence, core systems, and customer relationship management systems. Harland's printed products offerings include checks, direct marketing and financial forms. Scantron Corporation (http://www.scantron.com), a wholly owned subsidiary, is a leading provider of software services and systems for the collection, management and interpretation of data to the financial, commercial and educational markets.
This press release contains statements, which may constitute "forward-looking statements." These statements include statements regarding the intent, belief or current expectations of John H. Harland Company and members of its respective management, as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties and that actual results may differ materially from those contemplated by such forward-looking statements. Reference is made to the Risk Factors and Cautionary Statements in Harland's Form 10-K and Form 10-Q filed under the Securities Exchange Act.