Advanced Financial Technologies News

Advanced Financial Technologies, a complete lending technology solutions provider, announced today that Carnegie Mortgage, a nationwide Conventional/FHA/VA lender located in Princeton, NJ, selected Advanced Financial Technologies' SMART System as their mortgage banking solution for 4 regional retail shops.

After two months testing periods with SMART system, Carnegie Mortgage chose SMART System because it is a complete web-based mortgage system; pricing solution, AUS, LOS, Paperless Workflow, Back-Office solutions, Compliance disclosures and E-delivery features. Carnegie Mortgage used to use application software. They realized that they needed more expandable solution to handle more business with multiple business channels. Carnegie Mortgage elected SMART System for its single loan database that creates, processes, and tracks a loan file from application to funding. Key features cited by the lender include a robust rules-based user setup, paper-less processing, automated underwriting, pricing, lock desk functionality, closing, post-closing, secondary marketing, and reporting; as well as customized interface to 3rd party vendors.

"Before selecting SMART System, we spent a lot of time in manually and we needed to make fully automatic processing, underwriting, funding as well as post closing along with e-delivery features. We were forced to find another solution. We had an extensive research period and testing using 3rd party and we had come to conclusions that SMART was the best choice. During the testing period, we already made up our mind because of all features they offer. SMART system was delivered in 2 days at a very reasonable cost. With SMART system, we are very confident in competing with our competitors and cost effective in operating mortgage banking business" said Marcus Hadden, Ex. VP at Carnegie Mortgage.