ARC Systems Open to Offers

ARC Systems of Austin, Texas -- which offers loan underwriting and related software to mortgage bankers -- is considering selling the company, or what its president calls "our intellectual property."Company chief executive and founder Ed Jones said the technology provider has not yet hired an investment banker to represent it. "We're a clean company," he said. "We have no debt." Founded in 1984, ARC flourished during the subprime boom as lenders and investors bought its software to analyze nonconforming loans. Over the past year, some of its mortgage banking clients have either exited the nonprime niche or filed for bankruptcy protection. LendTech is one of its software products. The company can be found online at http://www.arcsystems.com.