North Shore Systems has taken its system to the next level with a new set of web-based functions for its North Shore enterprise system.
The system has been web-enabled from the beginning, to facilitate remote origination, and has been used by its sponsor client FINOVA Realty Capital over the last three years to originate more than $10 billion in commercial mortgages from over 30 offices nationwide. Remote connections were made to this browser-based ASP application over the company’s Intranet. Full origination functionality offered by this application increased productivity and allowed for seamless integration with underwriting and closing functions in the main office.
North Shore is now implementing the latest in web technology to move more functions of the collaborative underwriting and closing process online. Its Partner Express web module is used by third parties involved in the process to enter, view and update information relevant to them on a deal-by-deal basis. Redundant input is eliminated and the closing cycle is reduced considerably. All concerned parties are kept informed in real time over the Internet. Re-keying off engineering, environment and appraisal reports is also eliminated.
The company has also been developing software for the passing of loan package information over the web. This can be implemented in a private system between a lender and its primary origination partners, or in a public setting on a website for lenders to bid on deals submitted by mortgage bankers. North Shore conforms to all CMSA and MBA-sponsored data requirement specifications.
The new Java-based technology utilized by the company positions the application as a platform-independent solution, an alternative to its client-server based modules, and a system capable of supporting an ASP offering to its smaller customers.