The Mortgage Company of Michigan Selects Mortgage Builder Loan Origination System

Business Wire, May 27, 1999

SOUTHFIELD, Mich.--(BUSINES WIRE)--May 27, 1999--

Mortgage company cites MBSI's custom design as reason

for selection

Mortgage Builder Software, Inc. (MBSI) announced The Mortgage Company of Michigan, Inc. has selected Mortgage Builder(tm) loan origination system for its lending operations nationwide. With headquarters in Rochester, Michigan, The Mortgage Company of Michigan has a mortgage portfolio of $180 million.

According to The Mortgage Company of Michigan's executive vice president, Wally Williams, the company was chosen as a beta-site to test Mortgage Builder. MBSI allowed the lender the flexibility to custom design the program to their own needs. After testing was completed, The Mortgage Company of Michigan decided to purchase the entire software system. Having reviewed a variety of origination systems, The Mortgage Company of Michigan concluded that MBSI's Mortgage Builder software provided the features most suitable for its needs.

"Being a busy mid-sized broker, we needed software that can provide numerous functions without crashing on a daily basis," said Williams. "After searching through different software systems, we couldn't find the right fit. MBSI tailored the design of our hardware layout, forms and reports for our workstations. They also provided us with a complete origination system that is reasonably priced. MBSI is always willing and accessible to answer our questions without hesitation."

"The Mortgage Company of Michigan's selection of Mortgage Builder was an extensive testing ground for our software," said Keven Smith, president of MBSI. "We learned that a complete system rather than modules results in lower costs for our customers. The Mortgage Company of Michigan was searching for a complete system with a full range of functionalities."

The Mortgage Company of Michigan was also impressed with Mortgage Builder's post-relational 3-D database, which enables from 1 to 1,000 users to operate it on a variety of computer platforms including Windows NT, Unix and Linux.

"Having researched and evaluated other systems, we realized that although many applications were Windows-based, they were just rewritten versions of PC-based (DOS) applications," said president Keven Smith. "Rewritten applications cannot support large users. From this research, Mortgage Builder was created from scratch in a 32-bit environment and with a post-relational database. Another feature is affordability, scalability and flexibility, which is desirable in today's technology market."

A Windows-based system, Mortgage Builder's features include: processing and closing functions, on-line help, document printing, pipeline management, a fully-automated Fannie Mae interface, custom reporting and document design. Mortgage Builder speeds up processing time and reduces errors by auto-in-filling most loan program parameters via automatic data population.

Mortgage Builder was created with a new generation of computer application software tools called System Builder(tm) by Ardent. Most mortgage origination systems applications use relational databases. However, Mortgage Builder's post-relational database adds a new level of power to computer applications enabling it to handle more types of loans, have better post closing management and comprehensive reporting. Competitive systems often require additional modules for this additional functionality.

About MBSI

MBSI was recently formed by, and is privately funded through Glenn Computer to work with mortgage origination and servicing companies to provide origination, processing and closing tools needed to improve operations and data management needs. The company's mission is to provide the best mortgage software to its customers fueled by their excellent reputation and exceptional customer service support team. For more information about MBSI, contact Keven Smith by phone at 800-850-8060, e-mail ksmith@mortgagebuilder.com by fax at 248-208-6142 or write Mortgage Builder Software, Inc., 24370 Northwestern Highway, Suite 301, Southfield, MI. 48075.