Avista Solutions marks eight years in business with record growthMortgagePress.comAvista Solutions, LOS, software, Mark Phlieger
Avista Solutions, an industry leader in Web-based mortgage loan
origination software (LOS), is celebrating eight years of providing
innovative mortgage technology solutions to lenders across the
country this month. The company's eighth year was especially
memorable as it experienced record growth in both new customers and
overall volume despite the troubles the mortgage industry has
experienced nationally. The company upped its volume by 15 percent
in 2008, with a total increase of 189,000 loan applications
representing $28 billion in additional volume. Avista Solutions'
complete volume figure for 2008 was $215,176,000,000, with its
system handling a grand total of 1,297,000 loan applications over
Based on Avista Solutions' new customer additions and volume
increases thus far in 2009, the company expects to see further
growth and success over the remainder of the year. As of the end of
February, Avista Solutions processed 255,000 loan applications
totaling $45 billion in volume in 2009.
"As the market downturns, we are seeing companies placing far
greater emphasis on technology solutions that help them succeed,"
explains Avista CEO Mark Phlieger. "The days of the expensive,
fully purchased loan origination system, when companies basically
had to have their own technology departments to maintain them, are
over. Using the Web, Avista has been able to offer sophistication
in its offerings that rival or surpass those of the largest
companies, bringing an economical, all-inclusive platform to
lenders of all sizes."
Avista's success dates back to March 2001, when the company
signed its first customer, launching a business that now provides
lenders nationwide with a cohesive, all-in-one mortgage technology
solution. In the early part of the 2000s, lenders had access to
technological loan origination components, but typically not in a
single platform. The introduction of Avista's software was a
breakthrough for the mortgage technology industry, as it allowed
lenders to handle every aspect of loan origination in a single
system and 100 percent via the Web. "The Internet has changed
everything for the mortgage industry," Phlieger explains.
Avista Solutions has reached many milestones over the past eight
years, such as processing over 100,000 loan applications in one
month; being profitable since its first day in business; becoming a
Federal Housing Administration-ready LOS provider; winning several
awards from Mortgage Technology magazine, including their 2007 Help
Desk Award, and being chosen by the Lenders One consortium as its
first LOS partner. Avista Solutions continues to make technology
simple for mortgage lenders, offering a time- and money-saving
solution that allows them to fully focus on their business during
this especially rocky time for the mortgage industry.
Avista CEO Mark Phlieger attributes the company's growing
success over the last eight years to the responsiveness of his team
to the challenges Avista clients have faced as the industry has
evolved and changed since 2001, when the company commenced
operations. "Success in the turbulent market we have experienced
over the last few years is the result of having a dedicated team
that listens to clients and delivers the functionality they need to
conduct their business profitably," he says. "A great number of
good technology companies have seen negative growth in the current
economy, but Avista continues to grow in its capabilities and its
customer base. Our team is making it happen by providing the right
functionality at the right time for the lending industry."
For more information, visit www.avistasolutions.com.