EMC Mortgage Selects ComplianceEase to Detect Predatory Loans; Mortgage Company Sees Value in Automated Compliance Solutions

Business Wire, March 31, 2003

Business Editors

SAN FRANCISCO & IRVING, Texas--(BUSINESS WIRE)--March 31, 2003

ComplianceEase, a leading provider of intelligent business solutions, announced today that EMC Mortgage Corporation (EMC) has selected its flagship product - PredatorAnalyzer(TM) for automated compliance solutions, particularly in anti-predatory lending prevention. EMC is a wholly owned subsidiary of The Bear Stearns Companies Inc., one of the largest investment banking and securities firms in the United States.

"Anti-predatory lending legislation has become one of the most significant regulatory compliance issues in the home lending industry; creating a significant burden and risk on lenders and secondary market investors to manage compliance risk and exposure," noted Willem Ridder, chief strategic officer of ComplianceEase.

"The ComplianceEase applications are powerful and intelligent tools for EMC to use in our ongoing effort to ensure compliance with anti-predatory lending regulations across the nation," said Mike McClelland - vice president, Due Diligence of EMC. "PredatorAnalyzer(TM) allows us greater control over the acquisition process, with this program we can conduct early and accurate compliance reviews on each loan. This critical information helps us make informed buying decisions. These tools not only add value to better risk management, but also better execution in the capital markets," Mike continued.

About EMC Mortgage Corporation

EMC Mortgage Corporation is a wholly owned subsidiary of The Bear Stearns Companies Inc. (NYSE:BSC). EMC Mortgage is a mortgage banking company specializing in the acquisition, securitization, servicing and disposition of commercial and residential loans. As part of its business, EMC buys distressed portfolios from corporations and government agencies, and transforms them into performing loans with established pay histories. Their proven success is built on a foundation of providing competitive pricing and excellent portfolio management. This disciplined focus has enabled EMC to grow from 10 employees in 1990 to more than 900 professionals today. For more information please visit www.emcmortgagecorp.com.

About ComplianceEase

ComplianceEase, a division of LogicEase Solutions Inc., has been a leading provider of intelligent business solutions to the financial services industry since 2000. Its ComplianceEase platform provides the industry's first automated compliance solutions utilizing advanced artificial intelligence reasoning and decisioning technologies as well as natural language processing. ComplianceEase powers beginning-to-end solutions at a fraction of the time and cost of the traditional approaches, while providing better accuracy and integrity. ComplianceEase's products and services include PredatorAnalyzer(TM), ComplianceAuditor(TM), BenefitAnalyzer(TM), professional services, and consulting services. For more information visit www.ComplianceEase.com.