Mortgage Banking Systems' President to Speak at MERS Conference; Electronically Assigning Mortgages Moves Industry Closer to Becoming an Electronic Marketplace

Business Wire, August 25, 2004

MCLEAN, Va. -- Christine Kirby, president of Mortgage Banking Systems, Inc., a leading provider of mortgage closing document services and technology, will speak at the Mortgage Electronic Registration System's (MERS) 2004 Northeast Region Workshop on Sept. 8, at the Hyatt Harborside Hotel in Boston. This one-day workshop explores the value of paperless, electronic assignments over traditional assignments when trading mortgage loans.

Kirby's presentation examines the overall benefits of electronically registering loans through MERS and the role Mortgage Banking Systems plays in making the seamless connection to the MERS system, saving considerable time and money while preserving data integrity and managing the process.

"MERS is helping the industry pave the road to an electronic marketplace," said Kirby. "Mortgage Banking Systems is working closely with lenders to enlighten them on the benefits of using the Internet to assign loans through MERS."

As president of Mortgage Banking Systems, Kirby drives overall strategy and new product development. Kirby aims to prepare mortgage lenders for an electronic future by offering critical components of e-commerce infrastructure, each interfacing with the company's closing document system, ProClose(R), allowing smooth and secure data transfer as the loan moves through the pipeline. Mortgage Banking Systems offers a number of products that support post-closing activities.

About Mortgage Banking Systems

Headquartered in McLean, Va., Mortgage Banking Systems is a specialized mortgage lending software provider for small to mid-sized mortgage companies and community banks throughout the United States. Since its inception in 1987, Mortgage Banking Systems has evolved into a national leader in mortgage closing documents and electronic commerce infrastructure. For more information, visit www.ProClose.com.