Edgewater Lending Group highlights financial strength as key determinant in selecting technology vendor

COSTA MESA, CA - October 24, 2007 - Reflecting the concerns of a precarious business environment, Oregon-based Edgewater Lending Group recently adopted the automated underwriting and loan pricing technology offered by PriceMyLoan (PML) based on the product's capabilities, but with added due diligence on the firm's financial stability. PML, a privately-held company, is the largest provider of automated underwriting and loan pricing technology to the mortgage industry.

Market Turmoil Increases Vendor Risks
With the mortgage industry in turmoil, lenders are faced with imperatives to improve their efficiency through technology innovation. But the same market pressures that are impacting mortgage lenders are also putting strains on technology vendors. This creates additional risks for lenders that go beyond evaluating whether a product is effective. The financial stability of a technology vendor comes to the forefront and begs to be asked. Edgewater Lending Group understood these concerns and incorporated them in their due diligence process for automated underwriting and loan pricing technology.

"It's a given that lenders need to have an online presence for originators," says Paula Brotherton, vice president of Edgewater. "It's important that an AU system is effective and adds value to your business, but we also want to be assured of a long-lasting relationship. We don't want to be left holding the bag because our vendor goes out of business."

Vendor Due Diligence Required
Edgewater asked vendors about their company history, client base, and supporting financial documentation as part of their evaluation. Not only did PML have the best performing AU and pricing technology, but the company was on solid footing from a financial and strategic perspective.

"As a company, we've been in business almost 10 years," notes Gigi Campbell, national sales director for PML. "We have several lines of technology products that service different segments of the financial industry. In spite of the recent headlines of notable industry players selling their assets, not many people realize the depth of our product diversity. We are more than willing to provide proof of our financial strength."

Financial Stability Ensures Continued Innovation
PML is a product of Insight Lending Solutions, a privately-held company that was originally founded in 1998. The company provides technology to other sectors such as community banking, credit union lending and mortgage credit reporting. With multiple sources of revenue supporting the overall business, PML has the stability to weather the current mortgage crisis and more importantly, to continue to fund robust development regardless of the surrounding industry conditions.

"AU technology is going to play a key role for us beyond what's happening right now," says Brotherton. "Knowing that PML is stable and strategically focused means that we have the confidence to move forward with our own business initiatives. PML shows us that there's a light at the end of the tunnel and we don't have to worry about running out of gas before we get there."

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