PCLender.com Completes SAS 70 Type II Audit

Business Wire, April 3, 2008

Receives Independent Certification for Technology, Security and Customer Service

HONOLULU -- PCLender.com, a fully hosted web based software and services solutions provider to mid-sized mortgage bankers and financial institutions, in Q1 2008 successfully completed a service auditor's review, commonly known as a SAS 70 Type II audit, of its InHouse Mortgage (IHM) and PCApproved applications. The audit was performed by SAS 70 Solutions, a nationally recognized independent auditing firm, and was completed in January, 2008. Included in the scope of the audit were PCLender.com, Inc.'s customer service control activities, as well as the general controls that support these activities.

SAS 70 is an acronym for the American Institute of Certified Public Accountants (AICPA) Statement on Auditing Standard (SAS) No. 70, titled "Reports on the Processing of Transactions by Service Organizations." SAS No. 70 defines the professional standards used by a service auditor to assess the internal controls of a service organization and issue a service auditor's report.

In order to complete the audit, PCLender.com, Inc. management developed control objectives for the significant areas of internal control that support the InHouse Mortgage enterprise lending platform and PCApproved online applications. The control objectives in the 2008 report addressed Computer Operations, Information Security, Application Development and Maintenance Activities, Data Communications, and Customer Service.

The service auditor performed extensive testing of the control activities implemented by PCLender.com and, following this rigorous examination, the auditing firm was able to issue an unqualified opinion.

The auditor's SAS 70 report addresses all five components of internal control outlined in the Sarbanes-Oxley legislation, namely the control environment, risk assessment activities, control activities, information and communication systems, and monitoring activities.

"PCLender.com management understands the ever increasing importance of corporate governance, as well as the impact of our services on our clients' system of internal controls," said PCLender.com founder and president Lionel Urban. "The successful completion of the 2008 SAS 70 Type II audit is only part of PCLender.com's continued commitment to maintaining a high level of internal control. PCLender.com, Inc. has engaged its service auditor to a long-term contract whereby PCLender.com, Inc. will undergo a Type II audit on an annual basis."

About PCLender.com

Honolulu-based PCLender.com (www.PCLender.com) has for more than a decade helped mortgage bankers accelerate business performance goals through technology-enabled best practices guidance, services and solutions. For more information: Lionel Urban at lurban@PCLender.com.