Crye-Leike Forms Exclusive Real Estate Alliance With OnePipeline; "One-Stop" Mortgage Financing for Tennessee Home Buyers Through 1st Trust Bank for Savings

Business Wire, Jan 30, 2001

Business Editors/High-Tech Writers

MEMPHIS, Tenn.--(BUSINESS WIRE)--Jan. 30, 2001

Crye-Leike, the 10th largest real estate company in the nation, Tuesday announced that the company has signed an exclusive contract with OnePipeline Inc., the national leader in automated loan compliance technology for the real estate and mortgage finance industry and the recognized "industry standard" for third-party loan origination.

1st Trust Bank for Savings, one of the top mortgage lenders in Tennessee, has also entered into an agreement with OnePipeline to act as a processing center for loans originated by Crye-Leike agents.

Through this arrangement, OnePipeline will work with 1st Trust Bank and Crye-Leike, and eventually other real estate business partners and homebuilders, to offer home buyers point-of-sale financing, or a true "one-stop" home buying experience.

OnePipeline's revolutionary online loan origination Automated Compliance System(TM) empowers real estate brokers and their associates to initiate the mortgage loan process directly for their clients.

OnePipeline, which employs real estate professionals allowing them to be compensated for their origination services, is the only national company to offer the ability to bring the real estate agent directly into the loan origination process. Crye-Leike, 1st Trust Bank and OnePipeline will engage in joint marketing efforts to make consumers throughout their multi-state lending area aware of this opportunity.

Research shows that consumers desire one-stop shopping for their home buying needs and that they prefer a real estate professional as their first point of contact. Subsequently, more and more real estate agents and home builders are providing such additional value added services to benefit their clients.

"OnePipeline offers an avenue for real estate professionals to be compensated for the loan related services," said Jane Hardin, president of the Mortgage Lending Division of 1st Trust Bank.

"We are excited about the opportunity to participate in a more simplified lending process, and an even better home buying experience." Hardin added that OnePipeline and 1st Trust are in discussion with builders and several other independently owned real estate firms to participate in this program.

"Crye-Leike Realtors and 1st Trust Bank are widely recognized as the leading real estate and mortgage experts in Tennessee," said David F. Broadbent, OnePipeline chairman, president and chief executive officer. "We look forward to working together to make one-stop home buying a reality in this market."

About OnePipeline

Based in Salt Lake City, OnePipeline technology allows automated loan origination directly through real estate offices and their agents, home builders and other financial professionals by providing full compliance with all local, state and federal laws, including RESPA, as well as professional regulations.

OnePipeline's compliance system features a sophisticated Automated Compliance Engine (ACE)(TM) that applies a unique rules-based compliance workflow to ensure complete satisfaction of all laws and regulations that govern real estate and mortgage lending.

OnePipeline is also the exclusive provider of loan origination compliance technology for Homestore.com, the nation's largest home and real estate network, and their E-Realtor(R) real estate transaction platform, in affiliation with the National Association of Realtors(R).

OnePipeline empowers real estate professionals, brokers and mortgage lenders to collaborate in giving the consumer the best possible products and prices through a single source. For more information, visit www.onepipeline.com.

About Crye-Leike

Based in Memphis, Crye-Leike (www.crye-leike.com) is the largest full service real estate company in Tennessee and the Midsouth, with a network of over 45 branch offices and 2,100 sales associates. Offices are located in 17 counties throughout a four-state Mid-South region: Tennessee, (Chattanooga, Memphis, Nashville), Arkansas (Jonesboro, West Memphis), Mississippi (Hernando, Olive Branch, Southaven) and Georgia (Fort Oglethorpe).

Crye-Leike also has six franchise offices in New Albany, Oxford and Tupelo, Miss., Blytheville, Ark., and Monteagle and Pickwick Dam, Tenn. As a privately held company with over 480 employees, the company attained record sales of $3 billion corporate wide in 1999.

As a full service real estate company, Crye-Leike offers a full range of real estate and related services, including insurance, commercial property, property leasing and management, home improvement, title, auction, relocation, franchise, premier properties and new homes.

About 1st Trust Bank for Savings

Based in Memphis, 1st Trust Bank for Savings was formed in January 1999. The mortgage lending arm of the bank (formerly First Trust Mortgage Co., started in 1984) was acquired by the Bank.

Its Mortgage Division has 44 loan officers throughout the state and has provided over $1 billion of financing in the last three years to families throughout Tennessee, Eastern Arkansas, North Georgia and North Mississippi.