Prysma Lending Group attributes efficiency and growth to combination of automated underwriting and loan pricing

COSTA MESA, Calif. and DANBURY, Conn. - May 20, 2008 - - Prysma Lending Group, a wholesale mortgage lender based in Connecticut, announced today the results of their successful deployment of the PriceMyLoan (PML) automated underwriting and loan pricing engine. After two months of use, PML has significantly lowered Prysma's production costs and allowed them to grow in spite of a challenging business environment. "Our wholesale business has been growing, but we found that it's almost impossible to keep moving ahead and expanding without some type of automation," said Luiz Serva, founder and chief executive officer of Prysma Lending Group. "PriceMyLoan put a structure in place for pricing and loan submission. It has streamlined our entire process."

PML is the largest provider of automated underwriting and loan pricing technology for correspondent mortgage lenders. The private-label system has been deployed to more than 150 lenders nationwide and is widely credited for lowering operational costs and dramatically improving closing ratios. PML sets itself apart from other similarly-positioned loan pricing technologies, known as product and pricing engines (PPE), because of its automated underwriting capabilities, which enable highly accurate determinations of loan eligibility.

Serva noted that he had investigated a number of systems, including PPE systems, but found their decisioning capabilities to be inadequate. Automated underwriting was critical for Prysma. "PriceMyLoan gives you answers that are black and white. There's no question when the engine gives an approval," said Serva. "Talking to a broker that wants to know if their borrower really qualifies for a loan is the biggest drain on our resources, so having PriceMyLoan do that for you represents tremendous savings. It's like having an army of people answering phones."

The rise in popularity of PPE systems have led to inaccurate descriptions of PML. "There are so many companies out there offering PPE technology," said Gigi Campbell, national sales director at PriceMyLoan. "It obscures the fact that pricing alone is next to useless when it doesn't accurately determine borrower eligibility. Lenders don't gain any operational advantages by displaying pricing on a screen. Originators need to know if their borrower qualifies for the pricing, and they have to be able to trust that the decision is accurate."

About PriceMyLoan
PriceMyLoan is a proprietary product of Insight Lending Solutions (ILS). Founded in 2002, ILS provides web-based application service for the mortgage lending industry and software as a service (SaaS) to its clients to enhance productivity, reduce IT dependency, and accelerate time-to-value for mortgage companies. Combining advanced technology development using XML and MISMO standards with high-quality service, ILS provides its clients with solutions that result in reduced loan cycle times, improved pull through rates, and a lowered total cost of software ownership. For more information, please visit www.pricemyloan.com.

About Prysma Lending Group, LLC
Prysma Lending Group, LLC is a lender based in Danbury, Connecticut. Founded in 2003, Prysma provides several types of loan products to the industry, ranging from niche products like ITIN and Alt-A, to agency prime products. Prysma is a direct endorsed FHA lender licensed in NJ, NC, GA, VA, FL and CT. Prysma believes in continuous growth and total customer satisfaction. Combining the latest technology with committed professionalism, Prysma has proven to have to one of the fastest turn times in the industry while sustaining rapid market growth. For more information, please visit www.prysmawholesale.com.

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Contact: Linn Cook
PriceMyLoan
(714) 957-6335
lncook@pricemyloan.com
www.pricemyloan.com