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29-Jul-03
MINNEAPOLIS, July 29, 2003—SuperSolutions, an Oracle
Certified Solution Provider offering the only comprehensive lending system that
automates all aspects of product financing, announced today that Palm Harbor
Homes has installed the company’s Daybreak Lending Suite. According to
SuperSolutions President and CEO Darshan Karki, “The manufactured-home leader
selected our comprehensive solution for origination, servicing and collection
because it offered a seamlessly integrated solution on a single database that
would streamline workflow for their 30-person staff.”
Palm Harbor established its CountryPlace Mortgage financing
subsidiary to allow the company to level out the peaks and valleys that have
historically plagued retail financing of manufactured homes, according to Lyle
Zeller, executive vice president of CountryPlace. “We began looking last fall
for a fully functional solution that would give us origination, servicing and
repossession management capabilities that our homegrown system lacked. After a
thorough review, we chose SuperSolutions’ Daybreak Lending Suite because its
indirect, dealer/consumer structure most closely fit our verticallyintegrated
manufacturing, retailing and financing organization with company-owned
sales-centers. And since Daybreak is built on technology that is more current
than any the consumer lending software we looked at, we think it will be easier
to maintain.”
An exceptionally speedy implementation confirmed Zeller’s
beliefs that Palm Harbor Homes would receive the attention it needed.
“SuperSolutions was very receptive to our requirement to get the system up
quickly, and they responded quickly. We were underwriting applications within
two weeks of signing the licensing agreements, funding loans within a month,
and the entire Lending Suite, including accounting interfaces was completely
tested and in production within two months.”
Zeller credits SuperSolutions’ flexibility in adapting to a
condensed, reverse implementation process in which unique needs are addressed
after the installation. “The other vendors we talked with recommended
traditional implementation plans that started with extensive requirements
definition and customization planning and development. This would have taken at
least three or four times longer to get to production. We started by installing
the system with default parameter settings, and then modifying the settings and
evaluating the need for enhancements after we were in production. This was
possible because SuperSolutions has expertise in our industry. They know our
products and processes. We are comfortable that we can rely on SuperSolutions’
expertise as we continue to grow our business around a system that is built on
current technology.”
About supersolutions corporation
Based in Minneapolis, Minn., SuperSolutions Corporation, an Oracle Certified
Solution Provider, offers the only comprehensive lending system that automates
all aspects of product financing. The Daybreak Lending Suite is a complete
package of loan processing software that automates lending from origination to
servicing and collections. The fully Web-enabled application is scalable,
user-configurable and user-friendly. With Daybreak, finance companies and banks
across the U.S. more efficiently and cost effectively manage consumer loans,
including those for automobiles, recreational vehicles, boats, motorcycles,
home improvement, home equity lines of credit and other specialty finance
requests.
About palm harbor homes, inc.
Based in Dallas, Texas, Palm Harbor Homes, Inc. (NASDAQ: PHHM) is one of the
nation's largest marketers of manufactured homes. The company's vertically
integrated operations – manufacturing, retailing, financing and insuring – set
it apart from other producers of manufactured homes, in addition to its focus
on the high-end, customized niche of the market. Sold through more than 136
company-owned superstores and more than 300 independent retailers, Standard
Casualty, the company's insurance subsidiary, and CountryPlace Mortgage, its
finance subsidiary, complete Palm Harbor Homes’ vertical integration structure.
For more information, visit
www.palmharborhomes.com.
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