SOURCE: Portellus Inc.

April 04, 2007 08:06 ET

BSM Financial Turns to Portellus for Rapid Implementation

Mortgage Banker Will Use Portellus' Single-System Platform to Quickly Implement Loan Origination, Underwriting and Processing Solutions

IRVINE, CA -- (MARKET WIRE) -- April 4, 2007 -- Portellus Inc., a leader in business-user driven change-management solutions, today announced that BSM Financial has signed with the company to utilize its enterprise rules management (ERM) system for automated underwriting, product eligibility and best execution pricing along with its loan origination system (LOS) and broker portal solution.

"It is critical that we select a vendor who has the full breadth and depth of implementation and support capabilities as well as a robust technology platform," said Kurt Cummins, CEO of BSM Financial. "Vendors must also have the scale and infrastructure necessary to support clients beyond the initial implementation of a system, and they must have a long term view of the customer-vendor relationship. We heard this in talking to Portellus' customer base."

BSM Financial was originally seeking only a replacement automated underwriting and portal solution, but after evaluating the configurability of Portellus' complete platform and the ability of its client services team to quickly deliver it, they also decided to license Portellus' Web-based LOS. Because Portellus' solutions are modular and can be implemented separately, BSM can first take advantage of moving automated underwriting to the point-of-sale for its brokers while later focusing on swiftly configuring Portellus' LOS to accelerate loan processing and effectively manage workflow.

"Given the market's current state, now more than ever it is crucial to perform adequate vendor due diligence before signing on the dotted line," said John N. Le, chairman and CEO of Portellus Inc. "Before investing in the Portellus solution, BSM's team spent three days in our Customer Readiness Lab (CRL) evaluating our infrastructure, support system and working with our client services team to ensure their expectations could be met. Unfortunately, many vendors in today's market do not proffer this capability. Vendor testing labs have become a must-visit for lenders making an enterprise-level software purchase in today's unstable market. Portellus' pre-sales risk mitigation approach to our clients coupled with our highly configurable platform has and continues to be the primary reason why we are able to boast a 100% implementation success rate whereas our competitors fall tremendously short of this value statement."

About BSM Financial

Founded in 2000 and headquartered in Allen, Texas, BSM Financial LP is a full-service mortgage banking operation producing mortgage loans for sale in the secondary market. The company operated under the name BankSource Mortgage, and was founded to serve retail borrowers. In December of 2000, BSM Financial began originating wholesale production under the name BrokerSource. BSM has set its vision on becoming a nationally recognized mortgage lender known for providing superior customer service, funding more than $3 Billion in residential home loans via retail and wholesale markets while specializing in the financing of manufactured homes. BSM's customers interface with highly trained and responsive mortgage professionals who provide personal attention to their individual transactions to assure a pleasant mortgage experience.

About Portellus

Portellus Inc. is a leading provider of next-generation technology solutions for industries requiring the automation of numerous complex business decisions. The company's Enterprise Rules Management (ERM) system, Web Portals and vertical market solutions utilize a service-oriented architecture (SOA) to deliver loosely coupled applications and flexible solutions, enabling clients to gain competitive advantages, reduce costs, mitigate risk, increase profitability, comply with regulatory requirements and swiftly respond to marketplace dynamics. Portellus' solutions are in production with mortgage bankers, financial institutions, insurance companies, due diligence firms and Wall Street investors. For more information, visit www.portellus.com or call 949-250-9600.

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