June 20, 2000

JACKSONVILLE, Fla. - ALLTEL today announced it has signed an agreement with DynAccSys, a leading application service provider, to develop a Web-based system to automate the claims process for defaulted mortgage loans.

"Creating a paperless claims system for the mortgage industry has been a goal for a long time, because it is a natural extension of the default process," said Alan Duncan, president of DynAccSys. "I am very excited that we will be able to work with the leader in delivering technology to the mortgage industry to develop this innovative claims processing system."

The claims process today is labor intensive and requires a great deal of quality assurance and validation. ALLTEL's MaxMilion Claims is an automated system that reduces the resources required to manage and complete the claims process. Additionally, the Web-enabled system reduces training times, minimizes manual data entries, increases detailed reporting capabilities and includes integrated electronic data interchange and imaging technology.

The ALLTEL MaxMilion Claims system will automate claims processing for conventional, Federal Housing Administration (FHA) and Veterans Administration (VA) loans. It will also incorporate regulatory compliance; enable lenders to create flexible lender-specific business rules; and include workflow automation.

"The ALLTEL MaxMilion Claims system will revolutionize the traditional paper- and labor- intensive process of filing claims for mortgage loans in default," said Bob Spector, vice president of ALLTEL business partners. "As a recognized leader in application development and claims processing, DynAccSys will deliver the automated claims system the industry has needed. I am excited about the efficiencies that this system will bring to ALLTEL clients."

The ALLTEL MaxMilion Claims system, a thin-client application, will be part of the ALLTEL Lending Portal and will include an interface to ALLTEL's Mortgage Servicing Package and the ALLTEL MaxMilion Default system. The ALLTEL Lending Portal is ALLTEL's Web-enabled technology to support the accessibility and delivery of products. It enables clients to access all products on the Lending Portal from one location and features a single security log on. All products on the Lending Portal share functionality, a common architecture and flexibility.

ALLTEL is the leader in the mortgage loan automation industry and the largest U.S. provider of software and processing services to firms servicing residential mortgage loans. ALLTEL currently provides loan servicing automation for more than 20 million mortgage loans, with balances exceeding $2 trillion.

ALLTEL, with more than 9 million communications customers, $6.5 billion in annual revenues and 24,000 employees, is a leader in the communications and information services industries. ALLTEL has communications customers in 25 states and provides information services to telecommunications, financial and mortgage clients in 55 countries and territories.

 

For more information contact:

Gustavo Schujman
Marketing Manager: