ARC Systems Touts Record Year

ARC Systems, a mortgage technology application service provider based in Austin, Texas, rendered decisions for a record $80 billion in loan applications in 2002, a 328% increase, the company has announced.ARC Systems said LendTech, its flagship product, rendered decisions for over half a million loan applications last year, with a peak day in September totaling $2.7 billion. Ed Jones, chief executive officer and president of ARC Systems, attributed the growth to an expansion of LendTech beyond the subprime market to the securities and warehouse markets, and to the product's capabilities. LendTech enables clients "to increase loan application volumes by as much as 300% utilizing their current staff," he said. The company can be found online at http://www.arcsystems.com.