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October 20, 2003 Eagle Home Mortgage Reaps Benefits by using Netupdate Suite - Loan officers gain real-time access to product eligibility and pricing information - San Diego, CA - At the Mortgage Bankers Association’s 90th Annual Convention and Expo, Netupdate, Inc., a leading provider of point-of-sale technology for the mortgage industry, announced that Eagle Home Mortgage will be one of its first customers to use the new Netupdate Product & Pricing Service, a comprehensive system that passes product and pricing information from an organization’s secondary marketing department to the point-of-sale. This process increases the profitability and decreases the costs associated with mortgage origination. Eagle Home Mortgage currently uses Originator ProSM, Netupdate’s Web-based point-of-sale system across its retail division. “Our loan officers will become more efficient, thanks to streamlined and integrated origination tools,” said David Floan, senior vice president and retail production manager at Eagle Home Mortgage. “This product and pricing technology will simplify the origination process and eliminate inaccuracies that come from manual data input.” Eagle Home Mortgage, headquartered in Kirkland, Wash., has 19 branches in Washington, Oregon, Colorado, Arizona, Utah and Nevada. In addition to its retail business, Eagle Home Mortgage has a substantial wholesale division as well. Floan said both operations will benefit from the use of the Netupdate Product & Pricing Service. “This is a great tool to access information about a variety of products at the point of sale,” Floan said. “Originators can quickly consider programs with adjusted pricing from several investors. They can initiate a search based on specific loan criteria and receive a list of eligible programs instantly. Rapid, accurate responses lead to happier borrowers and profitable placements. Through integration with Originator Pro, our loan officers can automatically provide borrowers with the annual percentage rate, principal and interest, and estimated closing costs.” Because Eagle Home Mortgage is an established Originator Pro customer, its loan officers will not face a steep learning curve on the new system. “Our Product and Pricing Service is well integrated with Originator Pro, and user friendly,” said Diane Holmstrom, CEO of Netupdate. “We offer products and services to give our customers a competitive advantage separating them from the typical loan officer. We empower them to become a trusted financial advisor to each of their borrowers.” About NetupdateNetupdate, a developer of lending technologies, offers the Netupdate Mortgage Origination Software Suite, an integrated, Web-based point-of-sale system for retail and wholesale lenders. The Suite connects people with systems and information to streamline the residential lending process. Netupdate software solutions allow mortgage professionals to work together online, collecting borrower information, providing regular communication and status updates, and moving loan file data to leading loan origination systems, thereby significantly reducing the time, cost and complexity of these financial transactions. Headquartered in Bellevue, Wash., Netupdate is funded by Alexander Hutton Venture Partners, Greenstone Venture Partners, Irwin Ventures and Timberline Venture Partners. For more information on Netupdate visit the company’s Web site at www.netupdate.com Contact: © 2003 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. |