MBA 92nd Annual Convention and Conference 2005 — Mortgage Cadence®, a leading provider of enterprise lending solutions (ELS), announces the release of Mortgage Cadence 4.0. The updated release provides many new features, the majority of which were developed as a result of customer feedback and requests. All of the changes are designed to make the interface easier to use, to increase the efficiency of users and to provide information more quickly to those that need it.

"Mortgage Cadence 4.0 is a giant step toward our goal of better enabling our customers to efficiently streamline the loan origination process and to fulfill customers' overall desire to achieve a purely electronic mortgage," stated Michael Detwiler, CEO of Mortgage Cadence.

In its development of Mortgage Cadence 4.0, Mortgage Cadence's goal was to continue the evolution of its technology toward the concept of a full e-Mortgage. Version 4.0 was designed to better enhance origination and underwriting functionality, further exploit the embedded business rule management capabilities, and add specialized functionality for cost savings for the user. Among the updated and enhanced functions of Mortgage Cadence 4.0 are fully automated product and pricing solutions (supporting point of sale through final decisioning), fully integrated document imaging, enhanced fee management, expanded funding functionality and flexibility, as well as various interface enhancements.

Specifically, the enhanced Product and Pricing solution promotes the best loan products with the most competitive parameters based on a borrower's and property information; thereby streamlining the process for Lenders to provide a comprehensive product selection. The module selects products based on selected variables such as loan data, income, debt ratios, assets, credit and loan purpose. In addition, the Product and Pricing Solutions module describes why a borrower did not qualify for certain products and gives originators the tools needed for adjusting the borrower's information to meet product requirements. A key benefit to Lenders is the ability to maintain their products and pricing dynamically and from one single source inside the Mortgage Cadence system. Once a Lender updates the product and pricing structure the change takes effect immediately and is accessible to all users of the system. Therefore, eliminating the need to maintain more than one product and pricing table, while keeping them synchronized – thus avoiding the locking of invalid products and producing bad loans – providing huge time and cost savings.

Based on a recent MBA study, document imaging tops the list of IT's spending priorities for the upcoming year. Mortgage Cadence 4.0 provides embedded document imaging functionality out-of-the-box. The Mortgage Cadence Document Imaging module enables the originator to capture any document from anywhere; view and annotate documents; print, fax, e-mail or package documents; retrieve specific documents for specific tasks; and efficiently index and store documents. The system is fully integrated with the Mortgage Cadence BRMS (business rule management system) thus enabling a dynamic document- and data-driven workflow. Receipt of documents into the system are archived and tracked via bar code "stamps". Any time a document enters the system, it can automatically trigger events within the lending process or assign tasks to users work queues.

"The benefits of such an embedded imaging system are immense," added Jerry Heinz, COO of Mortgage Cadence. "In addition to the processing efficiencies companies achieve from Mortgage Cadence workflow capabilities and the reduction of paper passing, companies will also experience significant cost savings that were previously incurred from buying reams of paper, and from use of courier services – not to mention the integration and management of a separate application."

Each of the enhancements made in 4.0 were made in accordance of Mortgage Cadence's vision of providing its customers with the ability to focus on profitability and superior customer service; an ever-evolving, open lending platform; the flexibility to adapt to industry changes and to capitalize on new business opportunities; the functionality to innovate the mortgage process with an eye toward the eventual realization of e-Mortgages; and to be the last lending platform they will ever need.


About Mortgage Cadence
Mortgage Cadence supplies mortgage lending platforms that enable companies to focus on profitability and superior service. Comprised of comprehensive end-to-end loan origination software at its core, a business rule management system (BRMS), workflow engine, product and pricing functionality, automated underwriting, imaging/electronic document management and document preparation services, the system gives companies the flexibility to readily adapt to industry changes and easily capitalize on new business opportunities. Built on an ever-evolving, SOA-based architecture, consisting of functionality to innovate the mortgage process, and an eye toward the eventual realization of e-Mortgages, Mortgage Cadence provides the last lending platform a company will ever need. To learn more, please visit us on the Web at http://www.mortgagecadence.com.