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Basis100 Partners with Realink to Enhance Product Offerings
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Added: 01/02/2004
Type: Summary
Viewed: 800 time(s)
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Basis100 Partners with Realink to Enhance Product Offerings
Basis100 (TSX: BAS), a business solutions provider for the mortgage lending marketplace, is partnering with Realink, an innovative national mortgage services company, to enhance its product offering on the BasisValuesSM delivery platform. Using RealValue – Realink’s automated desktop technology – BasisValues customers can upgrade from an AVM to a desktop appraisal. RealValue provides a low-cost alternative appraisal product for home equity lenders in approximately two days.
“Basis100 is focused on delivering actionable information to our customers through comprehensive solutions of convenience, selection, automation and intelligent product upgrade paths,” said Joseph J. Murin, President and Chief Executive Officer of Basis100. “We are very pleased to offer the RealValue product to our customers as the first step in intelligent upgrade technology.”
Intelligent upgrade technology is key to answering customer demand for flexible, scalable and efficient solutions. BasisValues, with the addition of upgradeable solutions, allows for: customized business rule logic, risk mitigation, consistency of process and selection and bulk processing requests.
The robust technology used to create BasisValues enables mortgage lending processes to occur without human intervention. Upon set up, the client determines the risk parameters and workflow dynamics, and pre-determines its unique product “upgrade path.” With BasisValues’ flexible design, users can add new tables, databases, objects, elements, as well as new business products and services to each transaction.
“The Realink partnership is a strategic addition to our BasisValues fulfillment strategy,” added Murin. “As we sign new partnership agreements, enhance our product offering and expand the BasisValues platform, Basis100 will solidify its leadership role as it continues to create new value in the mortgage lending markets.”
RealValue is powered by United Systems Software Company (USSC), Realink’s technology subsidiary and 21-year veteran of the appraisal software market. This low-cost alternative appraisal solution enables the electronic return and exchange of valuation data in industry-standard XML formats and the ability to customize the Desktop Appraisal’s content and appearance. Such flexibility enables mortgage service providers to private label RealValue while allowing lenders to integrate valuation data directly into their loan origination system.
“The partnership between Basis100 and Realink adds great value to the mortgage lending community,” said Don Juhl, President and CEO of Realink. “RealValue bridges the gap between automated valuation systems and traditional appraisals; facilitating faster loan-processing times and reduced closing costs. Our team of national appraisers provides timely and cost-effective appraisals to home equity lenders in data formats that allow for automated decisioning.”
About Basis100 Inc.
Basis100 (TSX: BAS) provides information and process solutions – leveraging technology and intelligent processes to deliver actionable information through a complete spectrum of business processes and that enable our customers to achieve excellent corporate results.
For more information about Basis100, visit www.Basis100.com.
About Realink
Realink is a national provider of real estate settlement services focusing on technology solutions that reduce the time and costs associated with evaluating and closing residential properties.
For more information about Realink, visit www.Realink.com.
Forward-looking (safe harbour) statement
Statements made in this news release that relate to future plans, events or performances are forward-looking statements. Any statement containing words such as “believes,” “plans,” “expects” or “intends” and other statements which are not historical facts contained in this release are forward-looking, and these statements involve risks and uncertainties and are based on current expectations. Consequently, actual results could differ materially from the expectations expressed in these forward-looking statements.
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For additional information, contact:
Basis100 Investor Relations
Joseph J. Murin
President and CEO
Basis100 Inc.
Toronto: (416) 364-6085 Ext 300
Pittsburgh: (412) 922-9181
jmurin@Basis100.com
Basis100 Media Relations
Lee R. Kaplan
Vice President, Corporate Development
Basis100 Inc.
(412) 922-9181
lkaplan@Basis100.com
Sandy Koeppl
Public Relations and Communications Director
Basis100 Inc.
(412) 922-9181
skoeppl@Basis100.com
Realink
Don Juhl
President and CEO
Realink
(480) 449-2600 Ext 177
djuhl@realink.com
Jeff Horrell
Vice President
Realink
(724) 443-7144
jhorrell@realink.com
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