Loans firm adds WRQ software to speed loan application processing


Loans firm adds WRQ software to speed loan application processing

Karen Gomm

Global Home Loans, a subsidiary of Countrywide Financial Corporation and Barclays Bank/The Woolwich, has used software from WRQ to improve loan application processing.

The company also aims to speed time to market of its outsourcing services and joint ventures by using WRQ Verastream software.

Tommy Mason, chief information officer and executive vice-president of Global Home Loans, said, “The majority of our customers, including our joint venture with Barclays Bank, have multiple legacy systems that must be integrated first before we can see any return on investment.

"Standardising on WRQ Verastream and Reflection has enabled us to maximise development times, improving ROI and time to market.”

Global Home Loans standardised on WRQ Verastream after reviewing the productivity of the software at its affiliate, Balboa Insurance Group, also a Countrywide Financial Corporation insurance subsidiary. Global Home Loans used Verastream to integrate disparate systems with Barclays Bank in the UK to speed up the benefits of this joint venture.

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