Lancaster Mortgage Bankers, a wholesale lender based in Warren, N.J., is deploying Mozart AUS, an automated underwriting application by Overture Technologies, Bethesda, Md."We're leveraging Overture's Mozart AUS to produce our own proprietary underwriting engine for use within our website," explained Elliot Salzman, Lancaster's president and chief executive officer. "We expect to be able to increase volume by 20%-30% while keeping the same number of staff." Mozart AUS offers Lancaster the ability to automatically price, select, and underwrite all conforming and nonconforming loans, including alternative-A, subprime, and interest-only products. The application is expected to be fully operational by early 2006. Overture can be found on the Web at http://www.overturetechnologies.com.
