January 20, 2006 — Bill Pitkin, Marlborough Stirling Canada President and Chief Executive Officer, is pleased to confirm the successful implementation of the Omiga mortgage origination system at ResMor Trust. Through Omiga, ResMor staff can underwrite, fulfill and fund mortgages through one efficient system capable of performing automated approvals. This functionality is complimented with task management capabilities that streamline the way that ResMor’s mortgage business is originated, decisioned and funded.
As part of a 5-year agreement, ResMor Trust has contracted with Marlborough Stirling Canada for its application service provision (ASP) outsourced mortgage technology services. Through this engagement, ResMor Trust gains access to Marlborough Stirling Canada’s complete suite of applications for mortgage origination and administration: MorWEB, Omiga and Optimus. These are fully integrated systems, allowing ResMor Trust to electronically process mortgage business from prospect to payout.
Martin Drevjany, Marlborough Stirling Canada Vice President of Sales, comments: "Following the launch of our Optimus mortgage administration system in the summer of 2005, the implementation of Omiga puts ResMor in a unique position to capitalize on the increased efficiencies that straight through processing can provide. In addition, since Omiga can automatically ingest mortgage applications submitted on our own MorWEB broker system and through competing broker systems, ResMor Trust can greatly reduce the amount of manual labour that goes into its origination operations, managing higher origination volumes in less time and eliminating redundant efforts and opportunities for error."
James Clayton, ResMor Trust President and CEO, explains that "we selected Marlborough Stirling Canada’s hosted portal services not only for the capabilities of their technology, but also because of their commitment to working with us as a long term partner, and to delivering business benefits that support our growth strategy. With the successful implementation of Marlborough Stirling Canada’s mortgage services, ResMor Trust has yet another competitive advantage."
About Marlborough Stirling Canada
Marlborough Stirling Canada is a wholly-owned subsidiary of Vertex Financial Services (www.vertex.co.uk). Vertex is an international business process outsourcer based in Manchester, UK, with particular expertise in customer management. Vertex develops and implements a range of service solutions including transformational outsourcing, combining its skills in consulting, technology and outsourced service provision to stimulate and facilitate business change and flexibility.
Vertex is part of United Utilities plc, a FTSE 100 company, and works in partnership with clients in the commercial, financial services, utility and public sectors, as well as the North American utility sector, to deliver operational and customer service excellence. Vertex has 9,000 employees based in 69 locations across the UK, Canada, the USA, Switzerland, Liechtenstein and India.
Marlborough Stirling Canada’s focus is on mortgage origination and administration, offering a complete range of hosted and licensed software implementations capable of achieving seamless straight through processing of mortgage business from initial customer inquiry to final loan discharge. For more information see: www.mscanada.com
About ResMor Trust
ResMor Trust Company is a federally licensed trust company operating across Canada focused on residential mortgage lending, mortgage servicing and deposit products. It currently has approximately $3 billion of mortgages under administration representing almost 18,000 homeowners.
ResMor originates all of its products through the brokerage community. For more information see: www.resmor.com
For more information:
Martin Drevjany, Vice President, Sales
Marlborough Stirling Canada