PRESS RELEASE


QC Tool Launched

VisiLoanReview(R) now enables automated predictive modeling, risk management and error recording

SAN DIEGO -- (Sept. 26, 2006) Visionet Systems has announced the availability of its Closed Loop QA/QC(TM) extension for VisiLoanReview® (VLR), a 100 percent Web-based program providing electronic quality control and underwriting reviews to the lender and investor community. The enhancement enables automated reviews and checks based on the source of the loan, product characteristics, fraud markers, as well as agency and investor guidelines. The news was announced today at the Mortgage Bankers Association's 2006 Quality Assurance conference in San Diego.

The software leverages artificial intelligence by continually score-carding reviews performed and defects encountered to automatically spot trends and adjust the level of due diligence necessary when a loan of similar attribute enters the supply chain. Additionally, VisiLoanReview has increased capabilities to streamline the mortgage supply chain between origination, secondary marketing and servicing sub-divisions through automation, resulting in the only industry specific middleware that reduces errors and delays.

"Our research shows that, on average, 20 percent of mortgages have a deficiency that will cause a serious financial loss due to repurchase, fraud or lack of regulatory compliance," said Arshad Masood, president of Visionet Systems. "In response, we have developed a solution that benefits lenders and investors with increased efficiency and better data quality which directly effects the bottom line of our clients. Our Closed Loop module is a byproduct of our commitment to enhancing VisiLoanReview to meet our client's strategic and tactical goals."

In addition, VisiLoanReview helps move processes to outsourced vendors and workers at different locations throughout the world through a single Web-based system. In conjunction with Visionet's VisiRepurchase® platform, the enhanced solution completely automates the loan review, repurchase demand and appeal process for investors and sellers.


SOURCE: Visionet Systems