Prism Mortgage Company Selects Loansoft Studio Suite

Business Wire, Oct 15, 2001

Business Editors

TORONTO--(BUSINESS WIRE)--Oct. 15, 2001

2,000 lending professionals to have new

point-of-sale capabilities

Loansoft, a provider of automation software for the mortgage industry, announced that Chicago-based Prism Mortgage Company has selected its complete LS Studio suite of products for its point-of-sale, origination and closing process.

Prism Mortgage, originates more than $8 billion in loans each year and was the 13th largest retail originator overall in 1999 (after taking into account its acquisitions for the entire year). The company operates through a network of 1,100 loan originators and more than 160 retail branches in 27 states.

LS Studio, a browser-based application that uses I.E.5.5, HTML, Visual Basic, XML and SQL Server and/or Oracle, is a fully integrated suite of mortgage applications. All mortgage functions from point-of-sale to closing can be added as needed. Additional applications include LS Workshop and RD Warehouse. LS Workshop enables clients to modify or customize any portion of the system to meet their needs while RD Warehouse gives clients the ability to have a central database and complete file synchronization with the touch of a button.

CC Miller, Loansoft's chief operating officer, said, "The LS Studio suite puts control back in the hands of the client. Due to Prism Mortgage's large lending presence, loan officers often want specific features that will allow them to work more efficiently. Loansoft Studio's LS Workshop enables Prism to make enhancements on a regular basis in a model environment, test them and then put them into a production environment."

Prism Mortgage anticipates having LS Studio rolled out to all users fourth quarter 2001.

About Loansoft

Loansoft Inc. is an exclusive provider of sales automation software for the residential mortgage industry. The company's LS Studio system features complete automation solutions from front to back. Loansoft also provides development tools, LS Workshop, that allow lenders to customize virtually any part of the Studio system including workflow, screens, data fields, calculations, forms, documents, and interfaces.

Founded in 1993, Loansoft serves over 28 mortgage lenders and has more than 10,000 software users. The company is privately held and is headquartered in Berkeley, Calif.

For more information on Loansoft, Inc. and its automated mortgage origination solutions contact Loansoft at 2930 Shattuck Avenue, Suite 206, Berkeley, CA 94705, call 510-647-1700, or email sales@loansoft.com. Visit its Internet site at www.loansoft.com.

Editor's note: Additional information about Prism Mortgage is available on its Web site at www.prismmortgage.com.