FNC-USERTrust Partnership to Launch Digital Credential

Business Wire, March 18, 2003

Business Editors/High-Tech Writers

ORLANDO--(BUSINESS WIRE)--March 18, 2003

During a panel presentation on security issues at the Mortgage Bankers Association of America's annual technology conference in Orlando, FNC Inc. and USERTrust Inc. announced the April 15, 2003, release of Digital Credential(tm).

Digital Credential represents the next generation of digital certificates.

"A typical digital certificate identifies the individual," said Nicholas E. Hales, president, USERTrust. "Digital Credential raises the bar by tying the identity of the individual with her professional credentials and disciplinary record."

"Digital Credential utilizes USERTrust's digital signature technology to ensure non-refutability, securing not only consumer financial data but all electronic financial communication," said John D. Johnson, CTO of FNC. "It assures appraisers and other loan service providers that their documents will reach recipients with total integrity and gives lenders superior confidence that the files they're getting from authorized vendors have not been tampered with in transit. By so doing, the Digital Credential acts like other digital signatures.

"But, Digital Credential goes to the next step: it ties the provider's licensure, insurance and professional credentials to his signature," Johnson said. "When a provider signs the electronic document, a query goes out to our server, which then checks on the validity of the provider's credentials. For example, if an appraiser is not licensed to perform the type of appraisal he is signing in the jurisdiction in which he is signing it, or if he has an unresolved disciplinary issue, the document will not be signed and delivered to the lending institution."

"The business community has a need for this technology, and FNC is leading the industry by making digital signatures and credentials easily available to major lenders such as Washington Mutual and Bank of America," Hales said. "We are excited to partner with FNC and provide the first production application of digital signatures across a broad industry-wide platform. It is a ground-breaking initiative."

Through the agreement with USERTrust, loan service providers delivering documents via FNC's Collateral Management System(tm) and portals will be able to acquire and use a Digital Credential from FNC. USERTrust will host the programs supporting FNC's issuance and authentication of the certificates.

Digital signatures have been in limited use in the United States since June 2000, when Congress passed the E-sign Act granting electronic contracts the same legal status as contracts executed with handwritten signatures.

About USERTrust Inc.

USERTrust is a leader in providing security and privacy solutions that enable online business transactions. USERTrust, a licensed Certification Authority, issues legally binding digital signatures used to authenticate users in online transactions. USERTrust's unique patent-pending third-party Trust Structure and Web-based data repository combine legal protections with technology to assure the privacy of online data and maintain the legal viability of transactions over time. For more information about USERTrust, visit the company's Web site at http://www.usertrust.com/.> About FNC Inc.

The pioneer in real estate collateral management technology, FNC Inc. is synonymous with mortgage efficiency. FNC's Collateral Management System (CMS) automates pre- and post-funding risk review and streamlines operations -- improving security, communication, market intelligence and analysis. Financial institutions and service providers alike rely on FNC's CMS, along with related data services and analytics products, to reduce costs and provide better service and value to customers. FNC is the collateral information infrastructure company that speeds loan decisions by converting paper to data to knowledge. Visit FNC's Web site at http://www.fncinc.com.