LAKE FOREST, Calif.,
Aug. 30, 2016 /PRNewswire/
-- Nortridge Software LLC announced today that Regional
Management Corp. (NYSE: RM) ("RMC"), a diversified specialty
consumer finance company providing a broad array of loan products,
opened eight branches in Virginia
earlier this year successfully using the Nortridge Loan System
(NLS). RMC is currently rolling out NLS to its other 330 branches
in eight additional states and has already completed the transition
successfully in New Mexico.
Switching to NLS provides RMC with a system that improves
operational efficiency, allows for faster turnaround times to adapt
to shifting requirements, and provides a technology platform
for building out enhanced integrations. In addition, RMC's
implementation team has worked with Nortridge Consulting Services
to incorporate in NLS a risk analysis and decision matrix for
automated underwriting. As a result, RMC branch personnel can
quickly review multiple loan options in person or over the phone
with the consumer, which allows for informed borrower decisions
while ensuring RMC compliance.
"We have been excited to partner with Nortridge and our close
working relationship is allowing the implementation process to
proceed smoothly," said Ralph
Warchol, RMC vice president and chief information officer.
"Our successful engagement with Nortridge Consulting Services has
been vital to the development of an automated underwriting
capability. Without the need for customization, we are now able to
very efficiently use NLS to collect loan application information,
process credit decisions, and generate loan document packages. We
believe the new system's easy functionality will significantly
enhance our marketing and credit functions and position RMC well to
grow the company in the long term."
Bret Davis, managing partner of
consulting services at Nortridge, has been an integral part of the
implementation process. "The RMC implementation perfectly
illustrates the flexibility of NLS for both loan originations and
servicing," Davis said. "The pilot project in Virginia proved that the platform could meet
RMC's varied business needs and provided a foundation for a phased
roll out to all their branches. We're pleased to partner with such
a professional, friendly company."
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SOURCE Nortridge Software LLC