Austin, Texas-based ARC Systems has signed a contract with Franklin Financial Group through its Franklin Direct division in Scottsdale, Ariz., to develop an automated underwriting application customized to the lender's diverse nonconforming product line.ARC said it will create the software for the division, which will operate west of the Mississippi in 2004, with expansion east of the river in 2005. Eventually, this contract will see all of the lender's products underwritten by the software ARC develops. The announcement was made at the MBA's annual convention in San Diego. ARC Systems can be found online at http://www.arcsystems.com.
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