Company calls engine "most accurate in its class"

Costa Mesa, Cal., June 21, 2006 - PriceMyLoan.com, a fully automated mortgage underwriting and loan pricing engine, is issuing a challenge to mortgage bankers and lenders: Try PriceMyLoan.com and you'll find it to be the most accurate engine in its class.

The key advantage of PriceMyLoan is the ability to provide eligibility and pricing results that are extremely accurate. "This technology - and the level of accuracy it enables - is not just a nicety anymore, it's become a necessity," says Gigi Campbell, National Sales Director for PriceMyLoan. "When lenders make promises to clients, they need to feel assured that the pricing engine will be accurate; they rely on it. Inaccurate promises will cause a loss of time, money and, most important, reputation."

PriceMyLoan's automated underwriting and loan pricing engine provides rules-based loan decisioning and real-time pricing in a private-labeled, web-based system that is custom built for lenders. Originators upload loan files directly from their loan origination system (LOS), re-issue credit from more than 200 credit vendors, and the program generates loan eligibility and real-time pricing in under 20 seconds.

Every loan product in the system is built to specific investor guidelines, matrices and pricing rules. With more than eighty investor products available to be added to a lender's custom engine, the engine can be fully deployed in less than one week. All investor guidelines and rate updates are maintained by PriceMyLoan.

Built for Accuracy
One of the primary reasons PriceMyLoan is so accurate is because of its unique ability to read credit report information. More than 200 credit vendors are integrated with the program, enabling loan officers and brokers to submit live credit data from virtually any credit vendor in the country without needing to buy a new credit report. When credit report information is imported into the system, every bit of the data is parsed and made available for loan decisioning.

This level of credit precision allows PriceMyLoan to accurately determine eligibility for loans that have stringent underwriting characteristics, particularly Alt-A and Subprime products.

In addition, the system uses a hosted, software-as-a-service (SaaS) model, where all aspects of system functionality, updates and enhancements are managed centrally by PriceMyLoan. Investor loan products are constantly screened and tested for accuracy by evaluating the cumulative total of loans that are submitted through custom engines built for every lender client. The result is a process of continual refinement of investor products and a higher degree of accuracy that is unmatched in the industry.

"No one else can touch us for accuracy; it's that simple," says Campbell, "Our business model is based on a distributed and cooperative approach to ensuring loan eligibility and pricing accuracy. Any change to an investor product immediately propagates to all our clients using that same product.

"The results for our clients are faster response times, lower costs and higher accuracy," she adds.

Take PriceMyLoan's Accuracy Challenge
PriceMyLoan invites lenders to take a live, fully functional test drive of the system. By accepting the PriceMyLoan Challenge, lenders will be set up with a private testing suite where they can run live scenarios on an actual production system for a specified trial period. Live credit reports can be reissued and prospects can choose the investor products they wish to test.

"We encourage lenders to try PriceMyLoan themselves and compare our results directly with our competitor's findings," Campbell notes. "Choosing the right automated underwriting and loan pricing system is a difficult task.

"That's why we offer the Accuracy Challenge: so lenders can compare our product's accuracy against competing products. Accuracy is the most important attribute to consider because it has the most impact on a lender's business."

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.

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