American Home Mortgage Selects Loansoft as Point-of-Sale Solution

Business Wire, March 13, 2002

Business Editors

ATLANTA--(BUSINESS WIRE)--March 13, 2002

Loansoft, a provider of automation software for the mortgage industry, announced that American Home Mortgage Holdings, Inc. (NASDAQ: AHMH), one of the nation's largest independent retail mortgage bankers, has selected its point-of-sale solution, LS Agent, to automate its 67 branch offices across the United States as well as its three MortgageSelect.com call centers.

LS Agent is one module in Loansoft's Studio suite of products.

According to Scott Berry, senior vice president of Strategic Technologies at American Home, the company did an exhaustive search of several different software vendors' solutions before selecting Loansoft's Studio system. "American Home has almost 600 loan officers, and we needed a solution that could work in a retail environment and in our call centers. The system also needed to integrate with our Fiserv UniFi(R) PRO mortgage processing system. Flexibility was also important. Many of the systems we saw had out-of-the-box functionality but no flexibility. With Loansoft we have both. We can easily tailor the application using LS Workshop to meet our needs because of the system's architecture.

"The LS Studio application allows us to modify screens, scripts, workflow and numerous other items within the system. We needed a solution that worked with our traditional retail loan officers using laptop computers as well as our networked MortgageSelect.com call center agents. Loansoft has the ability to synchronize the data so everyone is able to have the same up-to-date information and that was necessary for our business acumen."

The Loansoft Studio suite is a complete, integrated mortgage origination system and offers several different modules that can be added to the system as needed. When all modules of the Studio suite are used together, a company can automate all mortgage origination functions, from point-of-sale to closing. Studio is also customizable; all screens, screen order and flow, tabs, menus, toolbars, etc. can be easily modified to fit any institution.

"Being able to tailor Loansoft's point-of-sale module to meet our unique needs was a key differentiator between Loansoft and some of its competitors," said Paul Knag executive vice president of production at MortgageSelect.com.

Loansoft Chief Operations Officer C.C. Miller said, "American Home Mortgage is well respected in the mortgage industry, and gaining its business is a true testament to the functionality and flexibility of the LS Studio suite. AHMH had some functional requirements that I knew only our product could handle such as being able to personalize the product. We are honored to have been selected to partner with them to offer a completely integrated solution."

The initial rollout is scheduled for the end of the first quarter of 2002.

About MortgageSelect.com

MortgageSelect.com is the Internet division of American Home Mortgage Corp. Launched in 1999, MortgageSelect.com continues to lead the industry in online technology and service. MortgageSelect.com acquires customers on a variable cost model through private labeling, co-branding partnerships, and over 3,000 affiliates. MortgageSelect.com supports three call centers located on both coasts and is currently ranked as one of the top Internet mortgage lenders by National Mortgage News.

About American Home Mortgage

American Home Mortgage Holdings (Nasdaq: AHMH) is a leading independent retail originator of residential mortgage loans both online and offline. Its online operation, MortgageSelect.com is a leader in online closed loan volume, and has outperformed its online competitors in terms of profitability. Offline, the Company has grown organically and by acquisition and now has 67 community loan offices across the country.

For more information please visit its Web site at www.mortgageselect.com.

About Loansoft

Loansoft Inc., founded in 1993 and headquartered in Berkeley, California, is the exclusive provider of the LS Studio suite of automation software solutions for the residential mortgage industry. The suite of products automates all mortgage origination functions from point-of-sale to closing. Loansoft also provides development tools that allow lenders to customize virtually any part of LS Studio. Today, the privately held company works with three of the top five mortgage lenders in the United States representing more than 10,000 software users. For more information on Loansoft, Inc. and its 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.