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August 14, 2002 NetUPDATE, Inc. announces Digital Point-of-Sale System for Mortgage Originators which provides electronic document delivery Originator Pro™ provides a combined thin-client and web-based solution specifically designed to accelerate the sales phase of loan origination. Redmond, Washington -NetUPDATE, Inc. announced today the release of Originator Pro™, a digital point-of-sale (POS) system designed for mortgage professionals who seek to expand market share and reduce cost by working with a secure digital loan file rather than paper. Originator Pro enables smarter business relationships and a smarter loan process using smarter technology. "Originator Pro's POS software allows a loan officer to instantly deliver origination documents to the borrower through a shared workspace, unlike older tools that are not collaborative, and do not support borrower interactivity," says Tom Gonser, CEO, NetUPDATE, Inc. "By providing instant electronic file delivery to the borrower, a single interface for POS tools, like the loan application, Automated Underwriting, and product eligibility as hosted software, Originator Pro enables lenders to expand their market share and reduce IT costs." Originator Pro enables mortgage professionals to rapidly identify, engage, and approve borrowers more efficiently than competitors who use traditional loan origination software. This digital point-of-sale system is designed for use by lending institutions that seek to increase market share and profitability by using technology specifically designed to accelerate the sales phase of loan origination. "We want to leverage technology to gain a competitive edge, and for two years now, NetUPDATE has allowed Wisconsin Mortgage Corporation to present a sophisticated technology presence to prospective borrowers at a very reasonable cost," says Bob Oberbeck, Manager, Information Systems for Wisconsin Mortgage Corporation. "Originator Pro will allow me to deploy leading edge technology from a centralized location, give our loan officers the ability to be more productive through on- AND off-line origination tools, and create a technologically advanced origination environment with a software company I trust. Our most successful loan officers reap significant benefits by including NetUPDATE technology in their "origination toolkit". About NetUPDATE NetUPDATE (www.netupdate.com) is a software services company providing solutions that enable people to work together online, significantly reducing the time and cost of complex business transactions. NetUPDATE's collaborative tools extend mission-critical business applications onto the Internet, moving customers from expensive, slow, paper-based transactions to streamlined, electronic transactions. By allowing each person involved in the transaction to interactively share information, documents, and communication in a managed fashion, NetUPDATE solutions reduce transaction time, streamline back-office processes, and provide improved customer satisfaction. NetUPDATE customers and partners include National City Mortgage, CBC Companies, Countrywide, Eagle Home Mortgage, Flagstar, Fannie Mae, Freddie Mac, DEXMA, Onyx Software, Sollen Technologies and The Performance Group. Headquartered in Redmond, WA, NetUPDATE is funded by Alexander Hutton Venture Partners, CBC Companies, EFund LLC, Greenstone Venture Partners, Irwin Ventures, Onyx Software, and Timberline Venture Partners.
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