COSTA MESA, Calif. - December 31, 2007 - Automated underwriting technology vendor PriceMyLoan (PML) acknowledges the slowdown in the mortgage market, but fears that the troubles of a few high profile companies are spreading misconceptions about the mortgage technology industry as a whole. "Sales activity is strong," said Gigi Campbell, national sales director at PML. "It's not at the same level as earlier this year, but mortgage lenders are still investing in our technology."

Optimism in 2008
"There's no denying that there have been some spectacular implosions," Campbell said, referring to the exit of several prominent mortgage technology companies. She noted that as a result, the industry is more discerning over their technology investments. "Loan volumes are still being generated, and lenders need to improve their efficiency more than ever before. The fact that we're still adding clients during a market downturn demonstrates the value of PML. We've become a critical component of their overall strategy."

Coming off a record year in 2006, PML forecasts their sales activity to match the previous year. In spite of the negative publicity associated with mortgage lending, PML remains optimistic over the prospects for 2008. "Our clients have reported an increase in their pull through rates by as much as 70 to 80 percent. This is huge when you consider the importance of identifying and retaining quality loans when overall volumes have declined," Campbell says.

Going Against Conventional Wisdom
Cameron Financial Group (CFG) is an example of a lender that has made the decision to spend on technology during a market downturn. They made PML's automated underwriting technology a key part of their new business strategy. "PML gives us that sense of security we need moving forward," says David Rocha, vice president of CFG. "PML allows us to put more attention on our strategic goals."

CFG is a wholesale lender based in San Luis Obispo, California. Following several years of growth as a non-conforming lender, CFG recently made the decision to transition into the competitive world of prime lending. This spurred CFG to look for technology that would give them an edge over their competitors.

"In the prime world, originators don't want empty promises. You have to get it right the first time or you won't get a second chance," said Rocha. "PML looks deeply into guidelines and provides brokers with an extremely accurate response almost instantaneously. PML lets us perform at peak accuracy."

Since deploying in October of 2007, CFG feels vindicated about their decision to invest in PML's technology. "Building stronger relationships and finding new business is the net advantage of PML," Rocha noted. "The underlying technology is so accurate that we can spend more time cultivating our business instead of sifting through rate sheets and guidelines. We're confident that PML will get us farther much faster than we could have imagined."

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