LONG BEACH, Calif., Aug. 2, 2022 /PRNewswire/ — Applied Business Software Inc., ("ABS"), the leader in loan servicing and origination software in private lending, announced today closing of Q2 with a threefold sales growth in their Adjustable-Rate Mortgages ("ARM") software.
Despite fears of an economic slowdown and a high CPI inflation, Applied Business Software Inc., reported a spike in sales of their ARM software in this latest quarter. Though ARMs tend to be attractive to borrowers as rates go up, they had not been popular since the 2008 financial mortgage crisis. RESPA regulation has helped the adjustable-rate mortgage loan environment, and ABS’ market-leading ARM product continues to help lenders through the complexity of managing an ARM loan.
All Adjustable Rate Mortgage features can be found on The Mortgage Office’s newly released website: Adjustable-Rate Mortgage Software – The Mortgage Office
"With historical changes in interest rates come the demand for managing ARMs and The Mortgage Office is in a class of its own in this category. Our customers benefit from the software managing fluctuating indexes according to their individual characteristics as well as automatically changing rates and borrower notifications. We continue to answer our customers’ needs when developing The Mortgage Office and this surge in sales is a reflection of us meeting market demands as the leader in private lending," said Carlos Nodarse, Chief Executive Officer at ABS.
Applied Business Software is a market leader and global provider of software systems and solutions to the lending industry. ABS offers a complete suite of software products designed from the ground up to specifically address the needs of those who originate and service loans. All our products are consistently rated superior in design, system interface, expandability, and ease of use. ABS continuously updates its product line, always keeping it ahead of the curve with ever-changing technology, and compliant with rules and regulations that affect the industry. It offers a SaaS concurrent license model that addresses the needs of any size company. ABS is based in Long Beach, California. For additional information about ABS’s products and services, visit www.themortgageoffice.com or call (800) 833-3343.
SOURCE Applied Business Software