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North Shore Systems launchesvmultifamily lending module

American Property Finance and AMI Capital install latest enhancement to commercial mortgage origination system

Woodland Hills, Calif. (November 15, 2001) -- North Shore Systems, LLC, a leading provider of loan origination and processing systems for commercial real estate lenders and mortgage bankers, announced that American Property Finance and AMI Capital have installed the latest version of the North Shore system, which has been specifically enhanced to streamline and reduce costs for these Fannie Mae DUS lenders.

Brian McCracken, North Shore president, said the features of the company's new software release include prescreening, technology-enhanced underwriting with agency business rules, document and form generation and collaboration with third parities via the web.

"The primary benefits include shortened cycle time, elimination of redundant data entry and error, quality information for management, and a platform for scaling loan volume without impacting resources," McCracken explained.

Art Habighorst, President of American Property Finance's commercial real estate division at its New York headquarters, said he is looking forward to using technology-enhanced underwriting and electronic submission of loan data to Fannie Mae, Freddie Mac, and FHA. "The new North Shore modules allow us to re-engineer everything from the way we screen and quote deals upfront, to the way we compile data and generate documents -- even the way we interact with the agencies," he commented.

David Queen, Executive Vice President, Commercial Real Estate for Bethesda, Md.-headquartered AMI Capital, commented, "The North Shore system will make AMI Capital an even more formidable competitor by making factual presentation easier and business logic clearer. This translates into shorter cycle time for borrowers and superior loan documentation for Fannie Mae."

McCracken pointed out that the two lenders have worked closely with North Shore Systems to develop the new efficiencies for DUS lending.
Headquartered in Woodland Hills, Calif., North Shore Systems, LLC is a leading provider of loan origination and processing systems to the commercial real estate lending and mortgage banking industry. The technology company's primary product enables the efficient processing of commercial and construction loan transactions from internal or remote origination to closure and sale or securitization. Utilizing traditional and web-based technologies that allow all entities involved in the loan process to interact in real time, North Shore has helped lenders nationwide process over $10 billion in closed real estate transactions across a wide spectrum of lending programs and property types.
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