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January 14, 2003 Netupdate Releases Originator Pro™ version 2.0 Integrated Point-of-Sale System Continues to Streamline Mortgage Origination Bellevue, WA, January 14, 2003 - Netupdate, Inc., a premier mortgage software services company, today announced the addition of five important features to Originator Pro (OP), Netupdate’s flagship Point-of-Sale System for mortgage professionals. These enhancements include Good Faith Estimate and Truth-in-Lending disclosure documents, Express Pre-Approval Application powered by Fannie Mae, enhanced loan file export functionality, loan program database and closing cost templates, and a single pipeline view. "With these new features, Netupdate further strengthens its Web-based Point-of-Sale System for the mortgage industry," said Diane Holmstrom, Netupdate CEO. "This new version places the must-have sales tools into a single interface enabling loan officers to reduce the time to approval." Major Enhancements Include: Good Faith Estimate and Truth-in-Lending Disclosure Documents: Loan Officers can complete and print disclosures offline and can securely deliver multiple GFE/TIL electronic doc sets to any prospective borrower. Express Pre-Approval Application (XPA) powered by Fannie Mae (optional module): XPA allows the loan officer or borrower to enter limited financial information, obtain a pre-approval decision from the lender online, and if pre-approved, print out the pre-approval letter in a matter of minutes. Numerous customization controls are offered enabling the lender to customize text and logos, disclosure language, and even charge a loan application fee. Enhanced Loan File Export Functionality: Improved accuracy and additional data can be exported to Byte®, Calyx Point®, MortgageWare™ and other LOSs using the Fannie Mae® version 3.0 loan file format. Loan Program Database and Closing Cost Templates: Originator Pro’s Good Faith/TIL, Product Eligibility & Pricing Engine powered by Sollen Technologies, and Secure 1003 features now use a new built-in Loan Program Database and Closing Cost Template schemes. Supported loan programs are Fixed Rate, ARM, and GPM; supported loan types are Conventional, FHA, and VA. Closing Cost Templates include Reg-Z settings and pre-Defined Mortgage Insurance plans. Single Pipeline View in the OP Desktop Client: Pipeline management is simplified and enhanced by combining both online and local (offline) loans onto one screen in the OP Client. For more information about Originator Pro version 2.0, visit www.netupdate.com or call Netupdate at 1-800-593-9492. About Netupdate Netupdate, Inc. (www.Netupdate.com) is a software services company providing solutions that enable people to work together online, significantly reducing the time, cost, and complexity of mortgage industry transactions. Netupdate's tools extend mission-critical business applications onto the Internet, moving lenders from expensive, slow, paper-based transactions to efficient, integrated transactions. By allowing each person involved in the lending transaction to interactively share information and documents, and to communicate in a managed fashion, Netupdate solutions reduce transaction time, streamline back-office processes, and provide improved borrower satisfaction. Headquartered in Bellevue, Washington, Netupdate is funded by Alexander Hutton Venture Partners, Greenstone Venture Partners, Irwin Ventures, and Timberline Venture Partners. © 2002 Netupdate, Inc. All rights reserved. Netupdate, Originator Pro, Loanupdate and Netupdate.com are trademarks of Netupdate, Inc. All other marks are owned by their respective entities. Contact: Michael Korch NetUPDATE, Inc. Direct Line: (425) 605-2778 Fax: (425) 451-7882 michael.korch@netupdate.com