Florida Capital Bank Mortgage's Wholesale Lending Effort Capitalizes on Market Changes with New AVISTA Agile LOS

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Avista Solutions, a leader in web-based mortgage loan origination software (LOS), announces a highly successful first year in operation with Florida Capital Bank Mortgage, a Jacksonville-based wholesale lender operating nationally. As many lenders, both large and small, have exited the wholesale business, Florida Capital has expanded to fill that void, serving mortgage brokers all over the east and points west.

Avista Solutions, a leader in web-based mortgage loan origination software (LOS), announces a highly successful first year in operation with Florida Capital Bank Mortgage, a Jacksonville-based wholesale lender operating nationally. As many lenders, both large and small, have exited the wholesale business, Florida Capital has expanded to fill that void, serving mortgage brokers all over the east and points west.

"In 2007, we were looking for a web-based system to enable our clients to conduct business effectively with us online," says Mark Johnson, president and CEO of Florida Capital Bank Mortgage. "Now, we originate loans with mortgage brokers online and deliver them to investors electronically thanks to Avista's software solutions. We're streamlining our internal processes too, becoming as paperless as possible, making us even more efficient and cost-effective."

Florida Capital Bank Mortgage originates conventional and FHA loans exclusively through its broker network, and has been adding account executives across the country as part of its strategy to fill the void left by departing lenders. "We believe in the wholesale business and have long recognized that maximizing this market opportunity meant offering a competitive advantage in dealing with Florida Capital. Working as electronically as possible saves time and money for us and for our broker partners," Johnson says. "The best part is that we didn't have to spend a fortune to achieve efficiency. We are as fast and responsive now as the large companies that spent huge amounts of money to develop proprietary software, and we did it with an off-the-shelf solution."

Florida Capital's expansion has been enabled by Avista's Agile LOS and Avista Product Advisor, delivered in a Software as a Service model (SaaS). In addition, Avista installed Avista ImageFlow and Avista DataMart, which includes reporting, archiving and a back-end integration data warehouse, onsite at Florida Capital. "This makes Avista the only LOS vendor offering a hybrid SaaS/onsite delivery model to meet lenders' end-to-end needs," Phlieger says. "And it has certainly worked well for Florida Capital Bank Mortgage."

"Agility is very important in any business, but it is especially important in today's lending market," Avista's Phlieger notes. "With our Agile LOS, Florida Capital can scale their operation with ease and at a very low cost, which is a critical concern for today's lenders." Phlieger adds that the ability to host all of Avista's products or create a hybrid situation, as they did with Florida Capital Bank Mortgage, is a further example of the agility offered by modern web-based solutions. "The days of spending a hundred million dollars on an enterprise loan system built by in-house designers and engineers is a relic from the past, and simply no longer necessary," he says. "Florida Capital Bank Mortgage is a shining example of a new-look lender that has proved that point."

About Avista Solutions
Avista Solutions, the Mortgage Technology magazine "2007 Mortgage Technology Help Desk Award Winner" and a "Top 50 Mortgage Technology Provider", is a leader in web-based loan origination systems. Avista Solutions' suite of mortgage lending software provides complete end-to-end solutions that can be rapidly implemented across all origination channels. Avista has handled over $642 billion in loan volume 100 percent via the web. For more information, please call (803) 788-4936, or visit http://www.AvistaSolutions.com.

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Judy Phlieger
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