Gallagher Financial Systems Inc. Releases NetOxygen 2.4.3

New Version Features Enhanced Support for Responding to Market Changes, .NET Scripting

Brentwood, TN - Gallagher Financial Systems Inc. (GFS), a leader in enterprise loan origination system technology, today announced the release of NetOxygen 2.4.3. The new version of the company’s flagship product boasts several additional features that allow businesses to manage their implementation and workflows more efficiently and with more precision.

During the development stages of the new version, GFS evaluated its legacy change management capabilities and found that several enhancements could be made using a fresh approach. The end result is the integrated change management utility called Migrator. As part of GFS’ Enterprise Manager suite of .NET tools, Migrator enables administrators to more easily respond to their customers’ unique needs. For example, administrators, with proper security and using NetOxygen’s flexible tools, can respond to market demands by adding or modifying products, pricing and workflow processing rules. Migrator provides enhanced support for moving this type of new, time-sensitive content into customer production environments with full traceability.

“We collaborated with Gallagher and some of its clients in the ongoing development of Migrator,” said Vince DiFiglia, vice president of IT for Consumer Lending at GMAC Mortgage. “With Migrator, we believe our technical staff will gain greater efficiencies, enabling us to better meet the changing technology needs of our retail loan origination system.”

With the introduction of .NET, Microsoft provided a development framework that gives users more power than ever before. To take advantage of .NET’s new features, GFS added support for .NET scripting to NetOxygen, allowing users to develop all of their edit checks and workflow scripts using almost any .NET compatible language. Also, compiled interpreters and edit checks developed in the .NET environment offer advantages over the older COM scripting architecture by increasing system performance and simplifying the process of debugging the custom setups that NetOxygen administrators create.

According to GFS’ development team, the desire to increase system performance was the motivation for many of the enhancements in NetOxygen 2.4.3. GFS invested many hours of research and development into finding ways to make NetOxygen faster and more efficient so that users could be more productive and NetOxygen server resources would be managed more effectively.

“Since GFS has had a true thin-client, Web-enabled origination system for more than five years, we have been focusing our technology efforts on initiatives that enable our clients to continually derive new benefits from their technology investment,” explained Chris Anderson, president and chief financial officer at GFS. “Lenders can gain a competitive advantage by providing better service to their customers. NetOxygen 2.4.3 furthers that advantage by allowing our clients to leverage the already powerful capabilities of NetOxygen more quickly and efficiently for increasingly lower costs.”

The baseline configuration of NetOxygen 2.4.3 (COTS – commercial of the shelf) was also enhanced with many new features. NetOxygen now comes with an interface for Countrywide's Loan Underwriting Expert System (CLUES) and the ability to process blanket mortgages. NetOxygen’s blanket loan functionality lets lenders process loans that have more than one property associated with them, and the CLUES interface provides an integrated link to Countrywide’s automated underwriting system. In addition, several other updates were made to comply with the latest government regulations.

“We are looking forward to seeing how this installment of NetOxygen will improve the service our clients offer their customers,” Anderson added. “Additionally, being able to demonstrate how NetOxygen still sets the standard for loan origination and processing software is very exciting. We continually strive to provide what our clients want, and this is just another example of our commitment to our clients and the industry.”

Contact
Joey McDuffee
Vice President, Sales and Marketing
Gallagher Financial Systems
1.800.989.9996 or 615.221.7358

About NetOxygen
NetOxygen's architecture allows lenders to improve efficiencies via dynamic workflow routing and rule-driven, streamlined business processes. NetOxygen was designed to handle all aspects of the lending process for all channels and loan types using a component-based, end-to-end system, which allows for enterprise-wide data access for improved customer service. Gallagher also provides an off-the-shelf solution that can then be tailored to meet technological and business challenges that arise in an ever-changing industry. For more information, visit www.netoxygen.com.

About Gallagher Financial Systems
Founded in 1985, Gallagher Financial Systems is one of the nation's largest residential loan origination systems providers. Headquartered in South Miami, Fla., with its national operations center in Brentwood, Tenn., GFS has more than 150 professionals located throughout the U. S. and abroad. The company provides flexible, scalable, Web services-based loan origination and decisioning solutions for both the mortgage and consumer lending industries. Its product suite includes Gallagher NetOxygen, a Web-based Enterprise Lending Platform (for Internet-enabled technology needs), Enterprise Manager and NetOxygen Studio. For more information about Gallagher or its products, visit www.gogallagher.com.