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North Shore Systems
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North Shore Systems
216 Avenida Fabricante, Unit #102
San Clemente, CA 92672
Ph: 949.545.6550
Fax: 949.545.6556
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North Shore Systems is the leading provider Commercial Real Estate solutions, enabling greater efficiency and productivity through automated pipelines. With over 10 years of experience, North Shore offers consulting and implementation services in addition to providing the industry's leading LOS solution. With version for Lenders and Brokers, North Shore is all you need to take your business to the next level.

For press inquiries, please contact Brandon Glessner
Company Press Release Archive 7/8/2008

For more information, contact:
Patty Leimbach
North Shore Systems, LLC
Ph: 949-545-6550
(June 2008) – After choosing to implement the web-based commercial real estate lending software application from North Shore Systems (NSS), Freddie Mac’s Multifamily Lending Division based in McLean, Virginia, has successfully completed the first phase of their conversion to the North Shore’s lending system, which they will use to source thousands of multifamily loans a year.

The North Shore system has broad commercial lending capabilities, a flexible architecture, and rule-based process automation features. By choosing to work with a COTS (Commercial Off-The-Shelf) vendor instead of building software internally, Freddie Mac has already been able to effectively release the first phase of the North Shore system in a relatively short timeframe without adding internal overhead.

North Shore is designed for not only internal workflow automation, but for capturing loan and property data from external parties … in this case, the lenders selling loans to FM. It provides an externally-facing, web-based interface for customers to upload and validate data files (e.g. Excel, XML) and electronic documents. This approach has many immediate benefits, and lays the groundwork for a fully-automated origination process.

External users can access the system online through the internet. The application provides flexibility and security by providing a dynamic user interface, customized for different user roles (internal user or external/third party). By leveraging this architecture and using relatively new data standards, North Shore customers like Freddie have been able to gain efficiencies not previously attainable.

With positive feedback from lender customers, this successful initial implementation supplies momentum for Freddie Mac in its endeavor to better serve its customers and gain efficiencies through a new, state-of-the-art platform.

One of the primary goals of North Shore customers is to be responsive to the needs of the marketplace by configuring and offering new loan products in relatively short order. The flexibility, configurability, and rules-driven architecture of North Shore allows them to quickly and efficiently establish a new lending program or loan product by simply modifying sets of underwriting, routing, and decisioning rules.

Other specific attainable goals include reducing cost/duration to implement a new mortgage product by 25%, increasing customer satisfaction with improved turn-around times for quoting and rate lock, and retirement of inefficient legacy systems.

The president of North Shore Systems, Brian McCracken, comments “Like our other customers, Freddie Mac will be taking advantage of a great deal of out-of-the-box functionality that has resulted from ten years of enhancing the system. The GSE model is unique, though, and does require some customization. Our integrated rules-engine is being enhanced to drive data validation, workflow automation, and the rest of the origination process. This is obviously a large, far-reaching project and NSS has embraced the opportunity to succeed in this environment. Critical to its success, in addition to the systems capabilities, is the human factor and collaboration required between IT, the business side, and in this case, the Freddie lenders as well.”

About North Shore Systems

For over ten years, North Shore Systems, LLC has been providing the CRE lending industry with turn-key, comprehensive solutions to their automation needs. The Company’s primary product “North Shore” allows all entities involved in the entire loan process to interact in real time, leveraging .NET web services technology, industry standards, and a lender’s existing systems.

Headquartered in San Clemente, Ca, North Shore Systems services lenders and brokers across a wide spectrum of lending programs and property types. The various types of lenders have originated over $30 billion in loans using the North Shore platform. The company also offers a Broker Version of the system that is an on-demand, subscription based, online service that allows brokers to maintain a lender database that can be queried, build a pdf loan package that can be emailed to lenders, and to maintain their own pipeline database.

The North Shore suite also includes modules for Securitization, Portfolio Analysis, Asset Management, Construction, C&I and Specialty, and Small Business Finance.

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