Pacific City Bank, a new wholesale mortgage bank located in Los Angeles, announced today that Pacific City Bank selected Advanced Financial Technologies' SMART System as their mortgage banking solution to all their branches and their wholesale customers.

After testing SMART system for last months, Pacific City Bank 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. Not only these features, SMART system offers a multiple business channels to handle a retail shop and wholesale customers. Pacific City 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 had to speak to 4 different vendors, a pricing engine vendor, LOS vendor, Post closing vendor and Storage vendor. The cost was getting expansive and we finally decided to look for a better solution. Through another vendor’s referral, we had a demo with SMART system and we were extremely satisfied with the system due to all features offered. During the testing period, we compared with all other solutions to make sure that we chose a correct one. SMART system was delivered in 2 days at a very reasonable cost. We know that we can compete with a big nationwide company and run business in a better way" said Gene Sheen, Sr. VP at Pacific City Bank.