Mortgage Origination Software Provider Ships New Software

Business Wire, Jan 16, 1997

SEATTLE--(BUSINESS WIRE)--Jan. 16, 1997--

Significant Enhancements in TQS Version 2.0 from Byte Enterprises

Byte Enterprises, one of the nation's leading providers of computer software for mortgage originators announced today that Version 2.0 of The Qualifier Series (TQS) is now available. TQS, a Windows based mortgage origination software program is the flagship product of Byte Enterprises, Inc. Byte is offering the new TQS package to mortgage originators for a free thirty day trial.

TQS Version 2.0 includes upgrades and enhancements such as new connectivity interfaces, new modules and a new on-line tutorial to help users learn about the mortgage origination process.

"Mortgage originators across the country are making decisions each day on the merits of various origination software packages," commented Dale Eisenhart, president of Byte Enterprises. "We made the decision to invest significant resources to ensure that the mortgage industry would have high quality software at a price any lender could afford. We are so confident in TQS Version 2.0 that we are offering a free thirty day trial to any originator who requests it."

"One of the best features of TQS is its [networkability]," said Dale Linhart, General Partner of American West Mortgage of Hamilton, Montana. "We work as a team, and being able to easily send and share information between our workstations is very important. The package has been very dependable and we look forward to using TQS Version 2.0."

New interfaces include mortgage automated underwriting systems, credit bureaus and appraisal firms. Byte now offers improved automated underwriting interfaces with the Freddie Mac Loan Prospector system as well as the Republic Mortgage Insurance Corporation (RMIC) automated underwriting system.

All major credit bureaus (TRW, Equifax, and Trans-Union) are now integrated in TQS version 2.0. Also, an automated link to appraisal firms has been made available through Appraisal Link and a new link to Doc Magic document preparation service has been added.

A major module includes TQS Title One, for FHA Title One Mortgages. Functions include credit application, supplement, affidavits of Borrowers, Confidential Information Sheet, Credit Inquiry and Final Verification, Borrower Interview Upon Approval, Info for Government Monitoring, Fair Lending Notice, Request for Info Adverse Credit and Work Estimate. Another new module is Title One Second Mortgage/Home Improvement (two page application). In addition to the new on-line tutorial training system, TQS Version 2.0 includes a new Self Employed Income Analysis feature, new processing capabilities, improved ability to better manage processing logs, a new quick prequal and financial calculator and the ability to add a user's company logos to forms.

"This has been a year that Byte's customers have really helped define their software system," said Eisenhart. "Previously we added the ability to seamlessly integrate contact management software such as ACT! and Goldmine. The has really helped our customers better manage their sales and marketing."

Minimum hardware requirements for TQS version 2.0 are a 486 with 16 meg of RAM. The cost for a site license is $845.

Headquartered in Seattle, Byte Enterprises is one of the nation's largest providers of lending software and solutions for the mortgage industry. With an installed user base of more than 4,500, Byte's flagship product The Qualifier Series (TM) provides comprehensive processing for mortgage origination, underwriting and closing to mortgage bankers, brokers and financial institutions nationwide. Founded in 1986, Byte customers include National Bank of Arizona, Commercial Mortgage Corporation of California, and NationsBanc Mortgage of South Carolina.

For more information on Byte Enterprises or The Qualifier Series, write Byte Enterprises, Inc., 6016 N.E. Bothell Way, #F208, Seattle, WA 98155; or call toll free (800) 695-1008.

CONTACT: Byte Enterprises

Dale Eisenhart, (800) 695-1008

or

William Mills

Mr. Kelly Williams, (404) 264-7202

wmakelly@aol.com