Filogix technology enables Paradigm to provide greater flexibility and scalability to Canadian lenders.
Toronto, Ontario, August 25, 2005 -- Filogix Inc., Canada's premier provider of mortgage and real estate-related technology, announced today that its solution has been selected by Paradigm Quest for its new third party mortgage processing service. Paradigm will use filogix express® to provide multiple lenders with a cost-effective means to deliver greater mortgage selection and pricing to its Canadian consumers. This mortgage processing model is the first of its kind in the Canadian industry.
"We are dedicated to providing new mortgage services to Canadian lenders and in this highly competitive market, we know using filogix express will enable us to provide the market place with a distinct advantage in mortgage processing," said Kathy Gregory, President and CEO, Paradigm. "By associating ourselves with such a proven technology solution provider, we will not only create, launch and service new products and processes, but also reach our long-term goals for innovation and evolution of the mortgage process as it exists today. Leveraging the key features and functionality of filogix express will provide superior service to our clients."
Filogix express is a dynamic underwriting and workflow solution that greatly improves efficiencies in the mortgage lending process. Built specifically for Canadian lenders, Filogix express utilizes powerful adjudication, analysis and auto management tools, which provide significant improvements to the quality and timeliness of business service delivery. This allows users to manage their businesses more effectively and create long term and sustainable growth. With filogix express, Paradigm Quest will be able to manage volumes through the use of seamless, automated technology – a first in Canada – and will provide clients with an efficient means to quickly respond to market conditions and deliver innovative products to their customer base.
"We are pleased Paradigm Quest selected filogix technology to help them grow their mortgage process outsourcing solution." says Yoursry Bissada, President and CEO, Filogix Inc. "We are confident that filogix express will make them effective and efficient and help them to become a leader in the mortgage industry."
About Filogix Inc.
Filogix Inc. provides business solutions to Canada's real estate and mortgage-related industries. Filogix solutions are based upon a combination of hardware, software, professional services, domain knowledge and relationships that deliver end user solutions, facilitating the flow of data from one source to the next.
The filogix network processed approximately $50 billion in volumes in 2004 and currently connects to 7,500 mortgage originators, 77 lenders including all major banks, 32 real estate boards, 186 appraisal firms, and countless business portals attracting consumer mortgage applicants. The filogix network is the most comprehensive alliance of value-added partners, in the Canadian real estate and mortgage industry. To learn more about filogix, visit the web site www.filogix.com.
About Paradigm Quest Inc.
Paradigm Quest Inc is a mortgage processing outsourcing solution, with extensive mortgage market expertise, Its primary has a primary mandate of leading the mortgage market in innovation and service excellence. By working closely with industry suppliers and business partners, Paradigm's strategy is to evolve and improve the mortgage experience for lenders; originator's and ultimately the end consumer, enabling Canada to become a global leader in real estate secure lending processing. Paradigm is scheduled to begin processing its first client in Q4, 2005. Information about Paradigm Quest Inc is available at:http://www.paradigmquest.com.
For more information please contact:
(416) 537 1913
(416) 203 3656