FRAUD – It is all in the technology

We have to end this once and for all, and get to the bottom of this..for the sake of the borrowers which were lied to and than intentionally defamed of character by the people of this country……follow the technology and we find the crooks

Credit Risk Management Report (Jun 3, 1996)

Brightware Inc. and Servicing Management Systems Inc. signed a partnership agreement to offer software systems to help mortgage servicers increase servicing-generated revenues, improve service levels and lower credit losses. Brightware entered into value-added reseller (VAR) agreement with CounselWare, LLC of New York. CounselWare will market embedded technology built with Brightware’s tools in a software framework that lets attorneys model and capture information in systems that assess legal risk and provide advice to their corporate clients.

Brightware Inc. has received $3 million in new venture-capital funding from Norwest Venture Capital, a unit of the Minneapolis-based bank, and Venrock Associates, a venture capital firm. Brightware will use the funds to develop so-called knowledge deployment frameworks, which help automate decision-making processes in a variety of areas, including lending and investment. Brightware provides risk-management software to about 200 organizations.

Chase Manhattan Corp. uses Brightware’s EZ Reader Internet software to analyze E-mail coming into its World Wide Web site on the Internet. The Federal National Mortgage Association policy analysts use Brightware software to create underwriting rules for Desktop Underwriter, Fannie Mae’s automated underwriting system. Brightware also provides Equifax Check Services with software used in consumer-check authorizations at the point of sale.

Brightware BrightAdvisor and BrightResponse utilized by Security First Technologies for use in to help consumers apply for loans. BrightAdvisor holds an interactive dialogue with the customer to help them find products and services they might want to buy year. So is another new BrightResponse responds automatically to electronic mail messages sent to a Web

Gerlach, Kara. Real Estate Finance Today14. 5 (Mar 3, 1997)

American Finance and Investment Inc. (AFI) unveils CyberSmart Instant Mortgage Web site, a Web site that provides consumers with an interactive online environment where a mortgage loan can be approved in minutes. A project designed and supported by Brightware Inc.

Brightware enabled programs at:

Chase Manhattan Bank
Equifax Check Services
Fannie Mae
amongst others

Won awards at the annual Innovative Applications of Artificial Intelligence conferences.

In the mortgage industry and Development Partners with Brightware:

American Finance and Investment Inc.
Amway Corp.
Security First Technologies
Swiss Bank Corp.
Wells Fargo Bank

Orenstein, Alison. Bank Systems & Technology34. 5 (May 1997)

A subsidiary of Virginia First Savings Bank, which has nearly $1 billion in assets, Washington-based AFI has licensed BrightResponse and BrightAdvice software from Brightware, Novato, Calif., for use with its Cybersmart Instant Mortgage Web site. BrightResponse acts as an inbound telemarketing agent, automating responses to e-mail and Web inquiries generated by Internet consumers as they shop on-line for mortgages. BrightAdvisor works as an electronic “sales agent” on the Net, tracking a consumer’s actions and offering sales advice on-line. Cybersmart is an underwriting system that processes mortgage applications and is supported by customer service representatives 24 hours a day, seven days a week.

Angus, Jeff. InformationWeek 629 (May 5, 1997):

BrightResponse technology fields 70% to 80% of the thousands of questions we receive a week,” says Jack Rodgers, president of American Finance & Investment Inc., which is testing mortgages worth $1 billion over the Internet and by telephone last year.

Kutler, Jeffrey. American Banker [New York, N.Y] 07 Aug 1997

At least one bank, Wells Fargo, is preparing to use the system to deal with the rising volume of customer inquiries related to its home banking program. Other banks and financial service companies are likely to follow suit, given that Brightware has been doing 80% of its business with financial organizations ranging from the new (Security First Network Bank) to the established (American Express Co). Brightware 1.0, as the newly released software is known, is designed to automate customer service over the World Wide Web. As an “inbound marketing agent,” it responds to on-line inquiries and can refer them to bankers as would a telephone call center representative.

Kutler, Jeffrey. American Banker [New York, N.Y] 17 Oct 1997

$11.5 million venture financing in Brightware capital, Advanta Partners LP bought $5 million of Series B preferred stock in Brightware, company developing automated sales and marketing tools for the Internet.

Hambrecht & Quist,
Norwest Venture Capital
TTC Ventures
Venrock Associates
Wilson Sonsini Goodrich & Rosati.

Norwest Venture Capital and Venrock, which is affiliated with the Rockefeller family, were among the first investors in Brightware and remain the largest. TTC Ventures is owned by Thomson Corp., a Canadian publishing company whose holdings include American Banker. Wilson Sonsini is a prominent Silicon Valley law firm. and with revenues of $13 million in the fiscal year ended last June, is staking out a position in what it calls sales servers-automated agents that use inquiries from customers to develop sales leads. Wells Fargo & Co. was among the early buyers of Brightware 1.0, seeing it as a way to deal with the customer service demands in its fast-growing on-line banking program.

NOVATO, Calif–(BUSINESS WIRE)–March 17, 1998

Brightware, the market leader in customer-direct selling on the Net, today announced that its strategy of focusing on the financial service market in the first six months of shipping Brightware(R) has yielded significant momentum in retail banking and mortgage lending.

“Brightware is focusing on key market segments to drive forward on its mission to make the Net the world’s best sales channel. We have leveraged our strength in financial services to successfully penetrate the retail banking and mortgage segments and now are making inroads into the securities and insurance sectors.”

Chuck Williams, president and CEO of Brightware

By March 1998, Brightware’s retail banking customer list, to mention a few, included:

Bank of America
Swiss Bank
The Toronto-Dominion Bank
Wells Fargo

Brightware’s mortgage banking customers includes amongst:

American Finance and Investment
Fannie Mae
HomeSide Lending
Registered Australian Mortgage Securities.
Access National Mortgage

In the mortgage sector, Brightware helps companies improve their use of the Net to directly source more home loans. Consumers need guidance in finding the right mortgages and making a decision to close. Brightware helps companies automate routine questions and answers in the early part of the process, and then forward qualified leads to human loan officers for rapid closing.
Brightware Forms Product Services Group

The product services group offers specialized vertical service capabilities for retail banks and mortgage companies today. The group plans to add specialized vertical  services for securities and insurance companies in the near term.
Brightware Bolsters its International Presence

Brightware, Ltd. The UK-based operation runs all of Brightware’s international business outside North America, and contributed 15% of revenues in the recent quarter. In October, 1997, Brightware, Ltd. signed Term Software as a Brightware distributor for Australia and New Zealand. This new Pacific Rim presence has yielded Brightware’s first customer in the region, Registered Australian Mortgage Securities.
Brightware Expands Partnerships

In the first six months of shipping, Brightware has expanded its partnerships with key partners such as Lotus, Microsoft, and Netscape. Lotus selected Brightware as a finalist for its 1998 Lotus Beacon Award, based on a solution implemented at Chase Manhattan Bank. Microsoft named Brightware a Microsoft Certified Solution Provider Partner and awarded Brightware its Best Web Site Solution for the value it adds to American Finance and Investment’s (AFI’s) industry-leading Cybersmart Instant Mortgage Web site

NOVATO, Calif.–(BUSINESS WIRE)–April 15, 1998

Brightware Inc., the market leader in automated customer interaction on the Net, today announced an alliance with Rockwell Electronic Commerce, Wood Dale, Ill., the leading vendor of call center systems. The Brightware call center systems application automatically answers free-form, natural language questions that customers enter on a Web page or send via e-mail. It interprets each inquiry and takes action according to a company’s business policies and best practices. Brightware generates immediate, informative, and personalized answers. It also makes proactive, appropriate suggestions and offers, notifies relevant company employees of important situations or opportunities, and acts on requests or routes them for follow-up.


Brightware Inc., Novato, Calif., and The Chase Manhattan Bank Monday announced an agreement whereby Chase will use the Brightware(R) server application to automatically classify E-mail messages received from retail banking customers.

NOVATO, Calif.–(BUSINESS WIRE)–June 5, 1998

Brightware Inc., the market leader in automated customer interaction on the Net, today announced that its 1997 sales of the Brightware(R) Server(TM) made it the worldwide revenue leader in Web/E-mail response software. The IDC report puts Brightware’s share at 26% of worldwide revenues for the category in 1997, which included revenues from 10 named vendors as well as revenues from other unnamed sources. The report also lists Brightware as the market leader for Europe, based upon 1997 revenues.

NOVATO, Calif.–(BUSINESS WIRE)–June 29, 1998

Version 2 of Brightware(R) Includes New Advice Agent and Enhanced Answer Agent to Conduct Automated Sales and Service Dialogs with Customers On the Net.  Brightware Advice(TM) Agent (new in version 2): Provides automatic real-time advice to customers by conducting interactive dialogs to determine their needs and present a company’s relevant product and service solutions. Brightware Answer(TM) Agent (enhanced in version 2):  Automatically answers customers’ Web and E-mail inquiries. The Brightware Server automates the approximately 80 percent of customer interactions that are straightforward and intelligently routes the 20 percent of complex or high-value customer interactions to employees for final resolution.

American Finance and Investment (AFI) is adding the Brightware Advice Agent to its existing Brightware Server. Since September, 1997, the Brightware Answer Agent has been automatically answering 60 percent of incoming questions on AFI’s Web site. The new Brightware Advice Agent is a complete turnkey application for interacting with customers, organizing and accessing relevant content and guiding customers to execute the sales or service transactions that best meet their needs. Brightware delivers all of the key components for successfully automating real time Web dialog in a single integrated package:

Brightware conducts real-time question and answer Dialog engine sessions with customers. Iterative customer profile creation: Brightware learns a customer’s needs and situation and updates their profile throughout a single dialog and across multiple dialogs

Dynamic content assembly and page generation: Brightware automatically composes pages of content that provide the information and advice relevant to a customer’s current needs Fuzzy matching: Brightware automatically combines a customer’s answers to its questions with existing knowledge about a customer to determine which questions to ask next in the dialog, as well as which advice and cross-sell and up-sell offers to present at each point in the dialog.

Business rules: Brightware applies a company’s unique policies and criteria to refine the Brightware dialog so that it implements sales and services best practices consistently.
Business editors: Brightware makes it easy to enter and maintain knowledge with graphical editors designed for use by business professionals

Enterprise integration: Brightware integrates existing product and customer databases seamlessly and provides an API for integration with enterprise applications and electronic commerce Servers.

By packaging these elements into a single application, Brightware helps organizations avoid the risks and costs of coding applications from scratch. Its open architecture also lets organizations leverage existing investments in Web site content authoring, tracking and personalization tools.

A Java servlet manages communications between Web servers and Brightware servers. The Brightware Java servlet supports Microsoft Internet Information Server, Netscape FastTrack and Enterprise Servers, Lotus Domino Go Web Server, Apache Server and any server that supports the Java servlet API. Brightware uses native APIs to integrate with the leading E-mail servers, MAPI for Microsoft Exchange and Lotus API for Lotus Notes. Brightware integrates with other mail servers using its open API. Brightware runs on Microsoft Windows NT and integrates with Oracle, Microsoft SQL Server, Sybase, DB2 and databases that support ODBC. Brightware also includes an open API for easy integration with other applications and modules. Brightware Is Priced for Aggressive Web Businesses.

Brightware is targeted to Fortune 1000 companies who are using the Net as their newest customer channel, and the new generation of enterprises whose businesses are based on the Net. Brightware license fees start at $95,000 annually or $190,000 for a perpetual license. This price includes a choice of either the Brightware Answer Agent or the Brightware Advice Agent. If a second agent is purchased at the same time, license fees for this agent start at $47,500 annually or $95,000 for a perpetual license.

NOVATO, Calif.–(BUSINESS WIRE)–July, 1998

Chase Manhattan Bank has licensed Novato, Calif.-based Brightware’s customer service and sales software, which automatically reads and answers email queries, routing inquiries to appropriate personnel for prompt handling. The Brightware application, slated to go live at the $366 billion bank in six to 12 months, replaces a custom-built system that Brightware had built for Chase in a consulting engagement.

Chase Manhattan Bank has licensed Novato, Calif.-based Brightware’s customer service and sales software, which automatically reads and answers email queries, routing inquiries to appropriate personnel for prompt handling. The Brightware application, slated to go live at the $366 billion bank in six to 12 months, replaces a custom-built system that Brightware had built for Chase in a consulting engagement.

NOVATO, Calif.–(BUSINESS WIRE)—Sept. 17, 1998

Brightware Inc., a provider of software that automates customer service tasks, such as responding to e-mail messages, reported an increase of 140% in sales for the fiscal year ended June 30, compared with the previous fiscal year prior.

“Brightware’s record sales resulted from many companies looking

for leading-edge e-commerce solutions and realizing that interactivity

is a key ingredient to on-line success. Our intelligent, automated solutions

give companies an opportunity to provide a high-tech approach to on-line

selling, marketing and customer service, while also limiting human involvement

in these efforts, thereby reducing costs.”

Chuck Williams, CEO and president of Brightware

Brightware licensed clients by March 1999, amongst others included:

Access National Mortgage
Bank of America
Bank of Ireland
Chase Manhattan
Fannie Mae Desktop Underwriter
Freddie Mac Terms of Business
HomeSide Lending
Intuit Australia
Swiss Bank
TD Bank
Waterhouse Securities
Wells Fargo

Brightware is a registered trademark of Brightware, Inc., its product list as of March 1999 includes:

Brightware Contact Center
Brightware Server
Brightware Answer
Brightware Client Desktop
Brightware Supervisor Desktop

NOVATO, Calif.–(BUSINESS WIRE)–March 23, 1999

Brightware, Inc., the leading supplier of customer assistance software for the Internet, today announced a strategic partnership with The Vantive Corporation whereby Brightware(R) 3 will integrate with the Vantive Enterprise and Vantive Web solutions to meet the needs of the e-customer.

Business Editors & High Tech Writers. Business Wire [New York] 12 July 1999

Brightware has raised the bar for email management applications by providing the first in a series of industry-focused solutions,” said Chris Erickson, president and chief executive officer of Brightware. “Brightware’s Knowledge Packs leverage our deep industry experience to provide financial service institutions with tailored email workflow and automation solutions that deliver unparalleled ROI and an exceptional e Customer experience. Our customers also benefit from our new integrator partnerships with Bowne Internet Solutions and SRA International, both of whom can help financial institutions design and implement eCustomer Assistance strategies that incorporate our products.”

Brightware’s New Partners

Bowne & Co – Bowne Internet Solutions is a consulting and development services company that partners with clients in the financial services industry to manage every stage in the evolution of their online business. Bowne brings long-term value to its relationships by combining practical application of Internet technology, in-depth knowledge in the financial services industry and the stability and resources of a worldwide company with a long history of superior customer service. Part of Bowne & Co., the world’s largest financial printer, Bowne Internet Solutions can manage, repurpose and distribute a client’s information to any audience, through any medium, in any language, anywhere in the world.
SRA International, Inc. offers consulting and systems integration services, as well as products and business solutions, to clients in business and government. SRA provides comprehensive solutions for Internet customer relationship management projects, including customer email management and compliance integrating Brightware’s award-winning email assistance solution with Assentor (R), SRA’s market-leading email message screening and archiving software that helps securities firms utilize email in compliance with Securities and Exchange Commission (SEC) monitoring guidelines. With the Assentor-Brightware combination, securities firms can facilitate email communication with clients while applying technology to the compliance review process.

Brightware’s Knowledge Packs are developed for retail banking, mortgage banking and securities firms. Each Knowledge Pack has the same structure, with content tailored to the products, language

Brightware has closed over a dozen new financial institutions, July 1999, including:

Cariplo of Italy
Cendant Mortgage
New Century
Upland Mortgage
Valley National Bank
Westpac Banking Corp. of Australia
as well as other major banks and brokerage houses in the US, UK and Ireland

In addition to new business successes, Brightware secured add-on licenses from existing customers including:
HomeSide Lending
Toronto-Dominion Bank

Brightware’s roster of financial service customers now spans over 30 institutions across seven countries.

American Banker [New York, N.Y] 21 Sep 1999:

American Business Financial Services is revamping its mortgage loan origination site,, using technology from Brightware Inc. and Qwest Internet Solutions. The site, to be launched in early 2000, will use Answer Agent software from Brightware for automatic loan approval and automatic e- mail messaging between consumers and a 24-hour support staff. It will also use Brightware’s Advice Agent automated reasoning system for interactive dialogues. The system will enable borrowers to track the progress of their loan applications.

NOVATO, Calif.–(BUSINESS WIRE)–Sept. 28, 1999

Brightware Becomes Siebel Premier Software Partner for Email Management Software. Brightware, Inc., the leading supplier of eCustomer Assistance software for the Internet today announced it has formed a partnership with Siebel Systems, Inc. as a Premier Software Partner in the Siebel Alliance Program. As part of its alliance with Siebel, Brightware will integrate its category-dominating Web and email assistance applications with Siebel Systems’ market-leading, Web-based front office application suite. With this best-of-breed solution, corporations will be able to manage and automate eCustomer interactions while consistently delivering across all channels.

BALA CYNWYD, Pa., Oct. 12, 1999 /PRNewswire

American Business Financial Services, Inc. (Nasdaq: ABFI) today announced that on October 1st, it implemented Brightware, Inc.’s Answer Agent, an advanced, automated e-mail system, along with its proprietary Rapid Credit Approval Process, on its web site. In addition to activating Answer Agent, the launch of online Rapid Credit Approval is a significant enhancement towards online mortgage approval.


EasyLoan Advisor to Replicate Interaction with Loan Officers American Business Financial Services, Inc. (Nasdaq: ABFI) today announced that it has introduced EasyLoan Advisor, a proprietary system which provides personalized services and solutions to customers through interactive web dialog, on its web site.

“In essence a VIRTUAL LOAN OFFICER. Very simply, EasyLoan Advisor

enables us to replicate much of the interaction our loan officers have with

prospects by providing them with education,guidance and assistance

regarding their personal financial situation and our product offerings.

By using this highly sophisticated and advanced online communication process,

borrowers will determine the loan that can best meet their needs.”

Anthony Santilli, Chairman and Chief Executive Officer of ABFI

NASHVILLE, Tenn., April 14, 2000 /PRNewswire

Petra Capital Partners, a private capital management firm, today announced its participation in the management-led buyout of MindBox, Inc. from Brightware, Inc. The financing has enabled the former custom solutions division of Brightware to start operating autonomously as MindBox. In a leveraged buyout, a new entity MindBox has been spun off from Brightware, a supplier of eCustomer Assistance software for the Internet. The former Brightware custom solutions division will focus on developing and providing software and services to financial services organizations.

“Brightware was comprised of two distinct business units:

eCustomer Assistance Internet applications
Customer Solutions

“By selling the customer solutions division to MindBox, we made the strategic

decision that each business unit would be stronger if run as independent companies.”

Chris Erickson, CEO of Brightware.

Brightware will focus solely on: eCustomer Assistance market Providing applications that helps eBusinesses service sell and create strong relationships with their eCustomers
GREENBRAE, Calif.–(BUSINESS WIRE)–June 19, 2000

Hitting the market in full stride only a month after its spin-off from Brightware(TM), MindBox, Inc., the worldwide leader in providing artificial intelligence applications to automate complex business and operations processes for the financial services industry, today announced an impressive client roster consisting of many of the top lenders and financial institutions in the country.

Customers include industry leaders such as:

Countrywide Home Loans
Fannie Mae
Freddie Mac
HomeSide Lending
GE Capital Corporation
Upland Mortgage.
Chase Manhattan

MindBox in Financial Services

Countrywide Home Loans: Countrywide Credit Industries, Inc. provides consumer and business-to-business financial services in domestic and international markets.
Fannie Mae: Fannie Mae is the country’s third largest corporation, in terms of assets, and the nation’s largest

provider of funds for home mortgages.

Freddie Mac: Freddie Mac is a stockholder-owned corporation chartered by Congress to increase the supply of funds that mortgage lenders can make available to homebuyers and multifamily investors.
HomeSide Lending: HomeSide Lending is one of the largest full-service residential mortgage banking companies in the United States. Headquartered in Jacksonville, Florida, HomeSide services over $145 billion in home loans representing over 1.6 million homeowners. (NSDQ: MDCM), is a pioneer in online mortgage banking, dedicated to reducing to reducing the cost of mortgage origination and funding by supplying financial institutions, realtors and homebuilders with point-of-sale and Internet technology, business management, loan processing, call center and mortgage funding capabilities.
GE Capital Corporation: GE Capital (NYSE: GE) offers a wide range of value-added financial products and services through a network of 28 specialized businesses in five core niches:
Equipment Management
Customer Services
Specialized Financing
Mid-Market Financing and Specialty Insurance.
Upland Mortgage: Upland Mortgage is a retail mortgage lender offering the most flexible and convenient loan programs available in the market today

Utilizing MindBox’s artificial intelligence applications, lenders are able to automate

and streamline complex business and operations processes within the following areas:

Mortgage lending origination and underwriting
insurance underwriting
Sales assistance
Credit grading
Compliance verification
Terms of business
Portfolio management
Personalize pricing
Deal structuring
Best execution.

GREENBRAE, Calif.–(BUSINESS WIRE)–Sept. 11, 2000

Building on its success in working with global customers, MindBox(TM), Inc. today announced the formation of its International MindBox User Group. Founding Board Members of the group include:

Ernst & Young
American Express
Countrywide Home Loans
Ford Motor Credit

The International MindBox User Group will become the premier forum for companies to share technology innovations and product feedback related to ART*Enterprise(R), MindBox’s award-winning artificial intelligence development platform that is running in over 200 deployments worldwide.

The first meeting of the International MindBox User Group was held in Denver, Colorado. The user group Board — consisting of top-name international companies — outlined its mission and strategies for culling user feedback and needs assessments, and building relationships and mechanisms between customers and MindBox to influence company and product direction in response to these needs. The Board also discussed ways to build bridges to Universities in order to cultivate new research and engineering talent in the artificial intelligence (A.I.) field.

GREENBRAE, Calif.–(BUSINESS WIRE)–Sept. 11, 2000

MindBox(TM), Inc. – officially launched as an independent company. MindBox is a technology company that helps financial services companies gain a competitive edge by intelligently automating their complex business and decision processes. The company develops and markets artificial intelligence software and consulting solutions that leverage industry and internal best practices to deliver automated decisioning systems designed to optimize customer interactions – over multiple channels such as the Web, phone, in-person, e-mail and kiosks.

MindBox, Inc. was formed in a leveraged buyout of a former division of Brightware. The company already has 200 customers documenting positive return on their investment in automated decisioning systems built with ART*Enterprise(R). From auto loans to online mortgages to corporate tax services, companies have successfully incorporated MindBox artificial intelligence applications into their business models ……..generating new revenue streams by using MindBox technology to automate cross-selling and up-selling of products and services, thus simultaneously addressing customer needs better with personalized product choices, as well as capturing a larger share-of-wallet.

The system is built in a component-based development environment, ART* Enterprise. This lets users create a series of process-related applications, including grading, product selection, deal structuring, processing, underwriting, and closing. The system is designed to be built on a variety of hardware platforms, including Microsoft Windows NT, or Unix running on Solaris or HP-UX systems.

Mindbox says its decision support technology offers more than nearly instant and consistent decisions, it also allows an organization to capture “knowledge base” of top performers, gain access to and integrate extensive distributed information from multiple sources and unstructured documents, and allow business managers to define the system rules in a natural language without any code.

GREENBRAE, Calif.–(BUSINESS WIRE)–Oct. 30, 2000

MindBox(TM), Inc., today announced its new series of components designed to automate many critical steps that are common across the lending process built upon MindBox’s award-winning intelligent software development system, ART*Enterprise technology.


The programs are domain components created specifically for the financial services industry and provides a framework into which company-specific knowledge, best practices and parameters can be integrated for each step of the lending process, from the initial credit evaluation to pricing the chosen product. This ensures that institutions optimize their client relationships throughout the lending process–across all client contact channels–by interactively delivering customized offerings to each individual client. By creating components for steps in the lending process, MindBox has provided its customers with the ability to deploy powerful decisioning systems for the entire lending operation all at once or in a phased approach.

GREENBRAE, Calif.–(BUSINESS WIRE)–Nov. 6, 2000

MindBox(TM), Inc., the worldwide leader in providing intelligent technology that automates complex business and decision processes, today announced that it has joined the Oracle(R) (Nasdaq: ORCL) Partner Program. The Oracle Partner Program is a global business network of more than 17,000 companies who deliver innovative e-business solutions based on Oracle software.

As a member of the Oracle Partner Program, MindBox will gain exposure to Oracle customers via Oracle’s Partner Solutions Catalogue, a comprehensive listing of products and services from Oracle’s partner community. Focusing on the Financial Services industry will allow both companies the opportunity to reach more clients facing the need for decisioning technology in their applications in order to better service their customers.

Mortgage Banking, April 2001 v61 i7 p107

GREENBRAE, CALIFORNIA-BASED MINDBOX[TM], Inc. signed Jacksonville, Florida-based Alliance Mortgage Co. Alliance will deploy ArtPrice[TM], a product component that provides automated pricing of products or deals for a specific customer or borrower. By evaluating the information provided by the borrower and the guidelines of the institution, the component creates pricing tailored to a given individual and situation.

American Banker, May 29, 2001 v166 i102 p24
MindBox it will build an automated underwriting system for GMAC Mortgage Corp. The system, called EnGenious by GMAC Mortgage, will automate the underwriting, product qualification, and pricing of the company’s products. GMAC’s mortgage operations more efficient and permit it to handle larger and more complex deal structures.

MindBox recently added American Business Financial Services Inc. subsidiary Upland Mortgage to its customer list. According to Mr. Barfus, one of the things Upland was interested in was creating an environment for originating loans on the Web without interference. Upland also wanted to be able to apply their sales strategies to not only find the product that made sense for the prospect, but also that made sense for Upland, that maximized or “optimized” the relationship with this customer.

“How do you manipulate the various variables in qualifying for a loan such that this individual qualifies for a loan? What do you have to lend to this particular individual customer, what debts do they have to retire, can they take money out of savings to retire it – what are the various things that need to be done in order to reach an acceptable solution for all of the parties? All that stuff is automated.”

Richard Barfus, CEO Mindbox

Murray, Michael. Real Estate Finance Today18. 21 (May 28, 2001)

GMAC Mortgage Corporation will be building an end-to-end automated underwriting system to handle complex deal structures using MindBox technology. The system, called EnGenious by GMAC Mortgage, will automate underwriting, product qualification, pricing and credit evaluation. The services will be accessible through a set of customizable and configurable components built from MindBox’s ARTEnterprise system.

ARTEnterprise includes an extensible markup language (XML) interface that provides content in a readable form by tagging items and defining them in a document-type definition (DTD). It will use the XML interface to read its rules into the EnGenious system and allows GMAC to enter its rules in XML syntax. EnGenious will also implement ARTExplain to provide GMAC with the ability to explain the reasoning behind a given loan decision, such as stipulations or product exclusion decisions. ARTAnimate provides GMAC with the ability to manage and track process flows within the system.  GMAC Mortgage Corporation, one of the nation’s largest mortgage lenders headquartered in Horsham, PA, originates first and second lien residential mortgage loans through a nationwide network of retail offices, direct lending centers, correspondents, brokers, internet sites under the brands and, and GM Family First, a custom homeownership services program offered to GM employees, retirees, and dealers.

GREENBRAE, Calif.–(BUSINESS WIRE)–Oct. 1, 2001

MindBox(TM), the worldwide leader in providing intelligent software to automate complex business and decision processes, and ABC Virtual, the developer of ECLoanPro, today announced that they have formed a partnership that will enable both companies to offer a sophisticated loan automation solution to a broader mortgage market. The union will eliminate the cost barrier-of-entry for small to medium sized lending institutions, empowering them to remain competitive in the wholesale and retail online lending environment. ABC Virtual Communications is a leading internet software product and e-Business consulting services company. ABC Virtual specializes in revitalizing enterprise applications and extending their reach through the use of Web-centric technology.
GREENBRAE, Calif.–(BUSINESS WIRE)–Oct. 8, 2001

Wells Fargo Home Mortgage’s website will use MindBox’s ARTOptimize(TM) software to implement new website functionalities. ARTOptimize is a sophisticated deal-structuring software product that allows for complete personalization of every step in the loan origination and underwriting process.
GREENBRAE, Calif.–(BUSINESS WIRE)–Oct. 29, 2001

MindBox(TM) and CapitalStream (, a Seattle-based provider of commercial finance automation technology for banks, financial institutions and manufacturers, announce forming a partnership that will enable both companies to jointly offer loan automation solutions to the small business and leasing market. The partnership will provide customers with the ability to integrate the two companies’ products to create an automated lending and leasing system focused on providing highly-personalized loan and lease options to customers

Seattle-based CapitalStream automates and streamlines commercial finance processes for banks, finance companies, and manufacturers. CapitalStream — FinanceCenter(TM), a patent pending technology, reduces processing time, lowers costs, and enables companies to cost effectively take advantage of new business opportunities by automating manual processes for leases, loans, lines of credit, and credit cards. CapitalStream, an established industry leader for more than five years with deep knowledge about the inner workings of the financing world, has helped hundreds of financial organizations increase their competitiveness, customer service and profitability.
GREENBRAE, Calif.–(BUSINESS WIRE)–Jan. 8, 2002

MindBox(TM) has completed development of a state-of-the-art mortgage lending system for GMAC Mortgage, an industry leader. The lending system called EnGenious(sm), uses MindBox’s sophisticated ARTEnterprise(TM) technology to fully automate underwriting, product qualification, product pricing and exception handling for all of GMAC Mortgage’s products. When the system is fully implemented, GMAC Mortgage will be able to offer its customers a more individually-tailored mortgage lending experience. For example, with EnGenious, a customer will be able to receive personalized responses during the mortgage lending application procedure that will not only offer customer-specific assistance and responses, but also accelerate the entire process.

GREENBRAE, Calif.–(BUSINESS WIRE)–Oct. 21, 2002

MindBox(TM), Inc., the worldwide leader in providing intelligent technology that automates complex business and decision processes, announced today that it is working with Ocwen Financial Corp. (NYSE:OCN) to provide case-based reasoning and artificial intelligence to enhance Ocwen’s Customer Relations Platform. The system, which is called the Customer Relations Expert, or CRE, will assist Ocwen’s Customer Relations Agents in diagnosing and resolving complex issues for Ocwen’s mortgage servicing customers. Ocwen Financial Corp. is a financial services company headquartered in West Palm Beach, Fla. The Company’s primary business is the servicing and special servicing of nonconforming, subperforming and nonperforming residential and commercial mortgage loans. Ocwen also specializes in the development of related loan servicing technology and software for the mortgage and real estate industries. Additional information about Ocwen Financial Corp. is available at

June 16, 2003 .–(BUSINESS WIRE) Copyright 2003 Thomson Media Inc

, Calif –MindBox, LLC, the leading provider of software to automate complex business decisions, today announced Linux platform support and a secure sockets upgrade as part of ARTEnterprise(TM) 10, the latest version of its flagship inferencing engine for the financial services industry. . The addition of Linux OS support was in response to customer requests, and allows MindBox to sell ARTEnterprise to a rapidly growing segment of the IT market. ARTEnterprise for Linux runs on Red Hat 9, using GCC 3.2.2. The secure sockets enhancement enables communication of encrypted data transfer into and out of any application running on top of ARTEnterprise, enabling the system to work in all HTTPS environments.
GREENBRAE, Calif.–(BUSINESS WIRE)–Aug. 13, 2003

MindBox, a leading provider of intelligent automation software for the mortgage lending process, announced today it has reached an agreement with Aegis Mortgage Corporation’s lending subsidiary, Aegis Lending Corporation, to build the company’s multi channel automated mortgage lending system using MindBox’s ARTOptimize software.

Initially, the Aegis system will help loan originators ask borrowers questions about their loan needs, and then analyze the responses against a given set of business and industry policies to provide the consumer with a selection of products and services available to fulfill their stated objectives. In the second phase, the system will provide an interactive forum that allows the consumer to express their needs and then adjust their requirements multiple times until the system returns the most appropriate loan solution for that borrower

Once the desired product is selected, the system will help the borrower apply for the loan and will complete the underwriting process.

The ARTOptimize Solution can automatically perform all of the typical steps involved in originating, underwriting and structuring a loan:

Leverages loan application data provided by internal sources or directly from the retail customer
Determines the qualified products and associated price for the customer.
Provides recommendations and counter offers for applications that are not approved
For those loans that are not “approved” as is, allows users to modify the request and re-submit
Creates an audit log of activities
During the sales process, assists the consumers in structuring deals that meet their needs
Prices the final product, providing an optimized offer for the specific customer.

Mortgage Servicing News, Nov 2003 v7 i9 p14

MindBox, Greenbrae, Calif., has released Interactive Customer Account Manager. The intelligent system is designed for corporate call centers and servicing centers, and consists of software and services frameworks that are used to deploy a call center application utilizing intelligent scripting and proactive problem diagnosis and resolution. Known within Ocwen as the Customer Relations Expert (CRE), the system uses MindBox’s patented case-based reasoning engine to help Ocwen’s customer relations agents both diagnose and resolve customer issues, and also to proactively identify and resolve other potential problems with a customer’s account. The tool automatically generates scripts and instructions for call-center agents.

American Banker, Dec 3, 2003 v168 i231 p12

MindBox has released Interactive Customer Account Manager. The intelligent system is designed for corporate call centers and servicing centers, and consists of software and services frameworks that are used to deploy a call center application utilizing intelligent scripting and proactive problem diagnosis and resolution. The software automatically analyzes customer accounts in real time, and provides call-center agents with dynamically generated scripts and question prompts, the company said. The scripting information is available before the support call conversation begins and is further refined based on the conversation.
Mortgage Technology, Jan-Feb 2004 v11 i1 p4

MindBox LLC announced that Countrywide Home Loans had bought a more extensive annual license of technology used in the lender’s Clues automated underwriting system. MindBox’s ARTEnterprise software now can be used in every Countrywide mortgage underwriting decision regardless of the application’s origination channel.

Wells Fargo & Co.
J.P. Morgan Chase & Co.
General Motors Corp.
Principal Financial Group Inc.


MindBox(TM), LLC, the worldwide leader in technology for automating complex business and decision processes, announced the addition of several new mid-market banking customers including: HomeBanc, First Preference Mortgage Corporation and ACT Mortgage Capital. Bank Systems + Technology, June 2004 v41 i6 p46

Countrywide extends its automated underwriting system

lender gives third-party originators access to automated platform.

Countrywide Home Loans Inc., a subsidiary of Countrywide Financial Corp. (Calabasas, Calif.; $97.9 billion in total assets), has reaped the benefits of the recent mortgage explosion, processing more than 150,000 loans monthly. Last year it handled $434 billion in new mortgages.

“The mortgage industry has seen a huge couple of years, due to the [refinancing] market, Countrywide has more than doubled

the volume of its mortgage originations in the past two years.”

Scott Berry Executive Vice President of Artificial Intelligence

“Without the technology, there is no way we would have been able to do the

amount of business that we did and continue to do.”


Ellie Mae(R) Inc., an award-winning provider of innovative software and services for the mortgage industry, announced a strategic alliance with MindBox(R), LLC, the leading provider of sophisticated decisioning systems and award-winning rules engine and case-based reasoning software, to integrate Ellie Mae’s ePASS(R) network into all MindBox products.

MindBox(R) is a technology company focused on financial services organizations. MindBox provides software and consulting services that leverage company and industry best practices in order to automate common lending practices such as underwriting, pricing, product best fit, deal structuring, debt reparation and cross sell across multiple origination channels. The company’s products and services have a proven track record of reducing cost and increasing revenue by automating knowledge-intensive business processes using sophisticated decisioning systems and award-winning rule and case-based reasoning software.

Ellie Mae, Inc. is an award-winning provider of software and services for the mortgage industry, which has been recognized in each of the past three years as one of the fastest growing companies in the California Bay Area, and most recently has been named to the Inc. 500 list of America’s fastest growing private companies. Ellie Mae provides a comprehensive line of products and services including the company’s flagship Encompass(R) mortgage management system, Contour(TM) and Genesis2000(R) loan origination software, Executive Websites(TM) for mortgage brokers, and Ellie Mae Docs(TM) services for document processing. Ellie Mae’s ePASS(R) Network is the mortgage industry’s online transaction platform enabling 40,000+ mortgage companies in the United States to easily do business online with hundreds of leading lenders and nearly 100,000 settlement service providers. Ellie Mae is based in Dublin, California

TCG and MindBox Form Strategic Partnership, Delivering Rules
Management and Decision Support to Government


(Turner Consulting Group) TCG and MindBox(R), LLC announced today that they have formed a strategic partnership to deliver industry-leading decision support and rules-based reasoning tools to the government using TCG’s GSA Schedule contract vehicle. TCG is a leading provider of IT and management consulting solutions to the Federal government and MindBox is the premier provider of advanced rule- and case-based reasoning technology to government agencies.

The use of decision support and artificial intelligence software can significantly accelerate information processing in many government systems, including grants management, bio-informatics, financial management, scientific research, and information management. TCG (Turner Consulting Group,, a Washington, DC-based company, specializes in delivering grants management solutions to the Federal government, and is responsible for pioneering integration work with, the government’s grants applications portal.

TCG focuses on helping government agencies use the power of the Internet and the Web to better interact with the public, and to generate internal cost savings and efficiencies.  Today the system serves the invention and patent reporting requirements of 22 Federal agencies. TCG was one of the fastest growing privately held companies in the United States in 2001, as ranked by Inc. magazine.

“The government processes massive amounts of information according to incredibly complicated policies and rules,” said David G. Cassidy, Vice President at TCG. “Through our agreement with MindBox, TCG will deliver cutting-edge tools that help manage and overcome this growing need, and give other integrators GSA Schedule access to the industry’s best rules- and case-based reasoning software.”

Mortgage Technology, July 2005 v12 i5 p33

Aegis Funding Corporation and MindBox(R), LLC today announced the availability of the Aegis Broker Loan Enabler (ABLE). The ABLE web-based portal offers mortgage brokers a way to electronically upload or manually enter loan submission data online, then receive back true, instantaneous underwriting decisions — complete with conditions, stipulations and detailed pricing.

ABLE is built on MindBox’s ARTEnterprise(TM) Product Suite, which automates every decision step in the mortgage lending process using patented rules decisioning technology. ABLE can also provide brokers with repair strategies and alternative loan options drawn from across the entire spectrum of Aegis Funding Corporations products and programs — ensuring brokers can give their customers the best possible deal.

Aegis chose MindBox for the development of its ABLE portal based on MindBox’s ability to address several key business needs, most notably its simplified user maintenance. MindBox’s ARTOptimize(TM) and MindBox Power Editor Products are being used to:

Automate the structuring of a deal tailored to an individual borrower’s specific requirements, based on credit scoring, pricing parameters and company strategies.
Enable line-of-business users to manage and maintain the software rules and guidelines that govern loan policies and approval criteria, instead of relying upon IT staff.
Be able to automate cross sell of a variety of products, as well as automating product qualification and underwriting.

Aegis Mortgage Corp. has four lending subsidiaries:

Aegis Lending Corp., headquartered in Baton Rouge, La.
Aegis Wholesale Corp.
Aegis Funding Corp. (which also uses the trade name Aegis Home Equity)
Aegis Correspondent Corp., located in Houston

ARTOptimize is a powerful product that automates the process of creating an individually tailored financial package for a given customer, resulting in automated, complete personalization of every step in the loan origination and underwriting process. Specifically, ARTOptimize leverages an institution’s data and sophisticated decision technology to complete the following steps:

Integrates credit data from multiple sources
Analyzes and acts upon that credit data according to specific company policy
Provides explanations of credit decisions made and why subsequent actions were taken
Prices the final product, providing the best possible offer for the specific customer
Provides a list of conditions that must be met in order for the loan to be granted
Provides a suggested list of debt consolidation strategies the borrower might take in order to lower costs and create a better debt portfolio
As part of this debt consolidation scenario, lays the foundation for the cross selling of other products, specifically, HELOCs and line of credit products.

Mindbox provides the MindBox Power Editor with each of the components. The MindBox Power Editor is a multi-level editing application that allows business users to modify or update automated business policies. It also allows the business user to define the hierarchy and organization of rules in the system, ensuring that the system follows the business practices required.

Mortgage Technology, Oct 2005 v12 i7 p34 – GREENBRAE, CA,

MindBox(R) LLC announced today that Saxon Capital, Inc. (“Saxon”) (NYSE: SAX), a residential mortgage lending and servicing real estate investment trust (REIT), has implemented a new automated loan underwriting and loan pricing system built with MindBox’s ARTOptimize software. Saxon’s new rules-driven underwriting system, called i-Deals(TM), allows consumers to apply for mortgages online and receive loan approval decisions, qualifying conditions, ‘best-fit’ alternative loan suggestions and even reasons for loan denial — all instantly and automatically.

Saxon used MindBox’s industry-proven ARTOptimize suite of software components to build the i-Deals underwriting and pricing system, and is also using the MindBox Power Editor to manage the corporate-wide underwriting rules and pricing policies that define what loan programs and interest rates to offer on any given day.

“The business advantage of having a rules-driven system is being able to instantly respond to market conditions and competitive situations, and with the MindBox Power Editor, Saxon’s loan officers can change the actual loan terms in the system without disturbing the core underwriting policies, and without having to ask for help from their IT department.”

Rich Barfus, President and CEO of MindBox, LLC

News provided by Comtex Oct 24, 2005 (MARKET WIRE via COMTEX) GREENBRAE, CA,

MindBox, LLC, a leading provider of rules-based software products for automating loan origination decisions, deal structuring, and underwriting, announced today the launch of the MindBox Loan Decisioning Platform, a complete framework of automated templates and components for deploying web-based loan origination portals for mortgage brokers and loan officers. It allows mortgage lenders to quickly implement a portal where brokers or loan officers can submit loan applications online and get instant loan underwriting, product selection, deal structuring and pricing decisions. The new decisioning platform announced today has already been successfully deployed in pioneering broker portals at Aegis Mortgage Corporation, ACT Mortgage Capital and Ownit Mortgage Solutions

Copyright 2005 MindBox, LLC. ARTEnterprise(TM)

MindBox(R), LLC, a leading provider of rules-based software products for automating loan origination decisions, deal structuring, product eligibility, pricing and underwriting, announced today an alliance with MSI Services. The companies plan to integrate MindBox’s ARTEnterprise(TM) product family into MSI Services’ CallCenterExpress — an advanced contact center solution designed specifically for financial services companies, that allows intelligent routing of calls according to loan type, real-time access to account history and customer profile, and preview dialing. The resulting integrated solution will enable CallCenterExpress to predict and diagnose possible issues, suggest and approve cross sell products and deals, and automate the underwriting of additional loans.

According to the terms of the partnership, MSI Services will offer the integrated solution to financial services companies of all sizes as an effective tool to transform call centers into profit-generating contact centers. MindBox will also be able to offer the combined solution to its customers.

Comtex. , Jan. 3, 2006 (Canada NewsWire via COMTEX)- RICHMOND, BC

MacDonald, Dettwiler and Associates Ltd. (MDA:TSX) announced today a significant strategic expansion in the Financial Services market. The Company has acquired privately held MindBox, LLC. MindBox(R) is a leading provider of advanced decisioning solutions to the U.S. mortgage lending community.

MindBox(R) will become part of MDA’s Financial Services business in the U.S., and will continue its operations as a separate business unit under the leadership of Richard Barfus, President and CEO. In order to maximize synergies, MDA is proceeding concurrent with this transaction to bring all of its U.S. Financial Services business (i.e., Marshall & Swift/Boeckh (MSB), DataQuick and MindBox(R)) together under a single unified leadership team.

Jan. 10, 2006 /PRNewswire/- BELLEVUE, Wash.

Corum Group is proud to announce the acquisition of its client, MindBox, LLC. by MacDonald, Dettwiler and Associates Ltd. (MDA). MindBox is one of the leading providers of software for mortgage lenders that automates knowledge-intensive business processes using sophisticated decisioning systems and award-winning rule and case-based reasoning. “There are great synergies between these two companies and the acquisition provides significant benefits to both parties. It enables MindBox to leverage the resources and presence of MDA in current and future markets. MDA can leverage MindBox’s powerful products and prestigious client base as an important addition to its lending services business in the U.S. MDA can also adapt MindBox’s solutions for its insurance services business,” explains Ward Carter, Corum President.

MDA provides advanced information solutions that capture and process vast amounts of data, produce essential information, and improve the decision making and operational performance of business and government organizations worldwide. MDA employs more than 2,500 people in locations across the United States, the United Kingdom, and Canada. The Company’s common shares trade on the Toronto Stock Exchange under the symbol TSX: MDA (see

Corum Group Ltd. is the premier provider of M&A services to software and information technology companies worldwide. With ten offices globally, Corum has completed over $5 billion in transactions in 14 countries in its 20-year history, and publishes the software industry’s most widely distributed M&A research. Corum is built and staffed by highly experienced former CEOs, who are supported by the industry’s leading researchers, writers and valuators. The company has spent more than $20 million to build the world’s largest IT database of software companies worldwide (with over 70,000 contacts) to help ensure unparalleled success in client engagements. For more information visit

Mar 06, 2006 (MARKET WIRE via COMTEX) GREENBRAE, CA, — MindBox(R) (TSX: MDA)

a leader in solutions for automating complex business and decision processes, today announced that Option One/H&R Block Mortgage Corporation has selected MindBox’s ARTOptimize product suite to build its DealMaker System for automating real time structuring of mortgage loans based on customer preferences. DealMaker will automatically evaluate and respond to all loan requests processed through their point-of-sale (POS) system by retail loan officers.

Option One’s new DealMaker system also allows loan officers to play “what if” scenarios to help arrive at the best loan solution. Using various levels of borrower information, the DealMaker system generates valid, fully priced proposals. These loan proposals take into account customer objectives such as rate reduction, cash out, debt consolidation, down payments and closing costs. DealMaker also contains a debt management service which allows the loan officer to plan the best credit scenario for their borrower. The DealMaker system is currently being used by retail channel loan officers and was recently expanded to the internet for use by H&R Block customers and tax professionals.


MDA MindBox(R) Inc., a leader in information solutions for automating complex business and decision processes, today announced that it will offer its award-winning ARTOptimize loan automation software as a hosted service available for a monthly subscription.

May 08, 2006 (MARKET WIRE via COMTEX)  News provided by Comtex  CHICAGO, IL,

MBA National Secondary Market Conference — MDA MindBox(R) Inc, a leader in information solutions for automating complex business and decision processes, announced today that its ARTEnterprise decisioning technology is powering the industry’s first 100 percent automated risk analysis system — the Walzak Risk Analysis Process Score (WRAPS).

The WRAPS predictive scoring model can be used by lenders and investors to replace manual quality control reviews and due diligence for evaluation and pricing of loans within a portfolio — reducing to 45 hours what used to take up to 45 days. The patent-pending risk model was built entirely within MindBox’s award-winning ARTEnterprise decisioning software system by MindBox’s software engineers.

MindBox’s ARTEnterprise technology integrates numerous outside data providers and various rules-based processing into one streamlined, efficient system that calculates a standardized investment risk score. Each loan in a portfolio is automatically analyzed against independent data to find potential fraudulent or inconsistent information in six areas: credit, appraised value, regulatory compliance, title, borrower income and general fraud. The system also checks calculations and other variations from policy and procedure requirements.

Jul 17, 2006 (MARKET WIRE via COMTEX) News -GREENBRAE, CA,

MindBox(R), a leader in information solutions for automating complex business and decision processes, today released ARTEnterprise 10.1.1. The updated version of ARTEnterprise includes cutting-edge technology to speed the time it takes to match borrower loan requests against available lender loan packages when applying for online mortgage approval. In addition, MindBox has included a new Web service to give lenders new options for integrating ARTEnterprise with their existing applications.

Jul 24, 2006 (MARKET WIRE via COMTEX) – GREENBRAE, CA, — MindBox(R)

a leader in information solutions for automating complex business and decision processes, today introduced the MindBox Power Portal, a customizable web site technology for e-commerce transactions that allows lending institutions to quickly launch private branded, comprehensive web sites for automating the underwriting and approval of mortgage loan applications.

With MindBox Power Portal, brokers, loan officers and other originators are able to submit specific borrower and loan information to a web site for automatic analysis by MindBox’s ARTEnterprise Decisioning Engines, including ARTOptimize, ARTQualify and ARTPrice. For every loan submitted, multiple loan scenarios are automatically generated by MindBox’s deal structuring capabilities and displayed by the Power Portal.

The MindBox Power Portal is unique in that it is a single source for all of these underwriting and approval services. Before now, financial institutions had to rely on multiple vendors for each of these individual applications.

“In the competitive world of mortgage lending, providing instant and

automated loan prequalifications and loan approvals available over

the Web at the point of sale has become a necessity in order to attract the

best brokers and loan agents, and convert more loan shoppers to borrowers”

MindBox Power Portal supports multiple channels of business — including wholesale, correspondent, retail and affinity — and can be implemented as a stand-alone e-commerce site or integrated into an existing web site to provide a comprehensive business offering.

Among the functionalities of MindBox Power Portal are user authentication for secure, authorized transactions; pipeline management that allows users to view the status of their loans; “Quick Quote” data entry that allows for streamlined loan shopping; comprehensive credit interface and analysis for real-time, accurate scoring; electronic integration into the lender’s back office; and the ability to view loan status, underwriting stipulations and conditions in order to reduce the number of calls to the support desk.

2006 SourceMedia, Inc.  (c) 2006 Origination News and SourceMedia, Inc

United Mortgage Lenders: MindBox Hit the Bulls-Eye with Its AI System. BOCA RATON, FL — Citing artificial intelligence as the differentiator, United Mortgage Lenders, Boca Raton, Fla., has chosen MindBox’s ARTOptimize product suite for its Bulls-Eye point-of-sale decisioning system

LandAmerica(R) and MindBox(R) Form Partnership

MindBox LLC, a leading provider of rules-based software products for automating loan origination decisions, deal structuring, product eligibility, pricing and underwriting, today announced a strategic partnership with LandAmerica Financial Group, Inc. (NYSE: LFG), a leading provider of real estate transaction services. The partnership was formed to integrate LandAmerica Credit Services technology into all MindBox software products.

LandAmerica Credit Services is one of the nation’s largest credit reporting companies providing mortgage brokers and lenders with a full slate of credit reporting products (including tri-bureau merges), fraud products, tax return verification reports, and a broad range of real estate solutions. According to the terms of the partnership agreement with MindBox, LandAmerica will provide MindBox customers access to its credit services directly through MindBox’s suite of loan origination and automated loan decisioning products.

LandAmerica Lender Services provides mortgage originators and servicers a broad range of solutions including title, escrow/closing, credit reporting, appraisals, flood hazard certification, mortgage processing and tax services, as well as foreclosure and bankruptcy services. All LandAmerica services can be accessed, quoted, and packaged on-demand through LandAmerica’s LenderXtraOrderTM interface.

MindBox Simplifies Process for Ameritrust Brokers Comtex Nov 06, 2006 GREENBRAE, CA

Ameritrust Mortgage Co. LLC, a nationally recognized mortgage lender based in Charlotte, NC, has deployed MindBox Power Portal and an ASAP system from MindBox(R), a leader in information solutions for automating complex business and decision processes, the company announced today. With the MindBox solution, Ameritrust is able to automate the loan pre-approval, data gathering and underwriting processes within a Web-based broker portal, allowing the lender to reduce operating costs while increasing the volume of loans processed and approved.

Additionally, the simple-to-use, point-and-click functionality allows Ameritrust’s sales staff to quickly import 1003 loan application data, pull credit information from dozens of vendors, and obtain loan approvals and pricing. The entire MindBox solution was deployed and operational with a full set of Ameritrust product guidelines in less than 90 days. MindBox has released Interactive Customer Account Manager. The intelligent system is designed for corporate call centers and servicing centers, and consists of software and services frameworks that are used to deploy a call center application utilizing intelligent scripting and proactive problem diagnosis and resolution.

ICAM is designed to save operational costs within company call centers by automating complex, error-prone and time-consuming customer support responses. The software automatically analyzes customer accounts in real time, and provides call-center agents with dynamically generated scripts and question prompts, the company said. The scripting information is available before the support call conversation begins and is further refined based on the conversation

Business Wire [New York] 15 Nov 2007

MindBox, the industry leader in automated decisioning for mortgage lending and a Mortgage Technology Top-25 vendor, announces the launch of a new Management Consulting Group (MCG). The MCG will be technology independent, and will advise mortgage lending executives and managers looking to evaluate their operations and processes through strategic resource allocation and improved enterprise decisioning. The MindBox Management Consulting Group will link clients with our industry experts who have years of hands-on experience working with many of the elite residential mortgage lenders, investors, credit reporting agencies, and mortgage insurance companies. The MCG will offer a wide range of consulting services including:

Detailed Analysis of Origination Systems and Costs
Enterprise Decision Management
Business Process Modeling and Process Optimization
Technology Utilization Analysis
Needs Assessment and Business Case Development
Project Risk Assessment and Benefit-Cost Analyses
Loss Mitigation Risk Assessment

Business Wire [New York] 21 July 2008

MacDonald, Dettwiler and Associates Ltd. (TSX:MDA) is pleased to introduce MDA Lending Solutions, Inc. in the U.S. This organization, previously known as TransUnion Settlement Solutions, is part of the continued strategic expansion of MDA’s Information Products business in the U.S. MDA Lending Solutions provides advanced information solutions that improve the decision making and operational performance of financial services customers by driving time, cost and risk out of real estate transactions. The company offers a comprehensive set of services for lenders originating, servicing and securitizing real estate loans, including collateral valuation, title and property information, flood compliance, residential credit and loan closing/settlement products

MDA’s Information Products business in the U.S. market until now has included DataQuick, a premier provider of real estate information solutions, and MindBox, a provider of advanced decisioning technologies for the mortgage industry. With the addition of MDA Lending Solutions, these MDA owned businesses will begin a collaborative effort to develop information solutions that leverage their combined capabilities and experience across the financial services industry.

Marketing Business Weekly (Sep 7, 2008):

MacDonald, Dettwiler and Associates Ltd. (MDA), is announcing the integration of two of its U.S. businesses into the MDA Lending Solutions organization. MDA companies DataQuick(R) and MindBox(R) will now be part of a combined organization that delivers advanced information solutions to financial services institutions in the U.S. The consolidated organization brings together extensive property data, state of the art analytics resources and the full range of traditional real estate products all under one organization. Since acquiring the Lending Solutions business in May 2008, MDA companies DataQuick(R) and MindBox(R) have already joined forces to enhance MDA’s ePolicy(TM) automated decisioning platform and have recently begun collaboration on several joint offerings that leverage MDA’s core competencies of property data, analytics and technology. MacDonald, Dettwiler and Associates, LTD (MDA) provides advanced information solutions that capture and process vast amounts of data, produce essential information, and improve the decision making and operational performance of business and government organizations worldwide.

Business Wire [New York] 16 Oct 2008

MDA Lending Solutions, a provider of advanced information solutions to the real estate lending industry, announced the introduction of MDA DataQuick’s Collateral Validation. The most recent addition to MDA Lending Solution’s Collateral Risk Management platform, Collateral Validation automates the valuation reconciliation process, enabling users to more accurately review individual loans and make better informed decisions regarding default or acquisition strategy. Collateral Valuation, a more comprehensive approach to collateral reconciliation brings all of the data needed to make decisions on individual loans together in an accurate, easy-to-use and configurable solution. Collateral Validation enables servicers and lenders to manage the rising volume of default collateral with historical data to support the valuation.

Collateral Valuation also includes a forecast, which provides servicers with the projected market value of the property for the next 30, 60 or 90 days. The tool utilizes MDA DataQuick’s proprietary Neighborhood Level Housing Price Index (HPI), which collects complete real estate and sales data from across the country. The HPI drills the data down to the ZIP+1 or 2, providing lenders with trends and forecasts at the most local level, compared to the industry standard of County-level data. A full Collateral Valuation report includes market value, HPI trending and other supporting property information to help automate the valuation review and reconciliation process. By incorporating industry best practices with MDA DataQuick’s property data, lenders can quickly evaluate individual loans and better prioritize and execute their default strategies.

MDA Lending Solutions Enhances, Renames Automated Valuation Model Business Wire [New York] 20 Oct 2008

MDA Lending Solutions, a provider of advanced information solutions to the mortgage industry, announced today at the Mortgage Bankers Association’s 95th Annual Conference and Expo the upgrade of MDA DataQuick’s automated valuation model (AVM), which has been renamed as ValueSmart. The enhanced AVM generates accurate property values by automatically selecting and using the most appropriate valuation methodologies. ValueSmart increases valuation accuracy and helps lenders better manage risk by creating values from five modeling methods and geo-spatial techniques. The enhanced AVM updates its data daily with sales data, removing the need to wait weeks or months for out-of-date transaction reports. As a result, lenders can improve the quality and speed of their valuations.

MDA Releases HVCC-compliant Portal for Mortgage Brokers Business Wire [New York] 30 Dec 2008

MDA Lending Solutions, a provider of advanced information solutions to the real estate lending industry, has developed its Managed Appraisal Platform, an electronic portal specifically for mortgage lenders seeking a way to achieve appraisal independence and regulatory compliance in their third party originations channel. The portal enables lenders and brokers to easily order appraisals from approved, third party sources without complicated technical integrations or high transaction fees. The portal is designed to provide compliance with the anticipated changes in appraisal regulation.

The new Home Value Code of Conduct (HVCC) regulations are designed to take conflicts of interest out of the home valuation process. MDA Lending Solutions’ Managed Appraisal Platform enables appraiser independence and incorporates wholesale lenders’ quality standards to deliver objective and accurate values in support of real estate loans.

MDA DataQuick Offers Solution to State Regulations Implementing Stricter Title Inducement Rules

Business Wire [New York] 11 Feb 2009 – MDA DataQuick, a division of MDA Lending Solutions that provides property and real estate data, announced today updates to its services to ensure compliance with regulatory changes in various states concerning the services title companies can provide to clients, including non-public real estate information. The restructured product offerings and launch of a new website,, ensure that realtors and mortgage brokers have complete access to the real estate information they need to conduct business.

MDA DataQuick has created DataQuick Direct, which offers the Realtor Direct and Mortgage Broker Direct packages. These special packages for realtors and mortgage brokers provide affordable access to the vital real estate data needed for their business. Title companies using PropertyFinder have access to public record profiles of a subject property.

Residential Realtors(R) will have access to MDA DataQuick’s GoTitle, which provides presentation-ready property profiles and property history reports. Commercial Realtors will have access to PropertyFinder for complete reports and property details. Mortgage brokers will have access to ProspectFinder, a marketing leads and demographic data tool, in addition to the full functionality of PropertyFinder. The Realtor Direct and Mortgage Broker Direct packages also include the optional service, ForeclosureFinder, MDA DataQuick’s new web-based foreclosure tracking tool.

MDA Lending Solutions Introduces Automated Portfolio Review Tool Business Wire [New York] 19 Feb 2009

MDA Lending Solutions, a provider of advanced information solutions to the mortgage industry, announced today the launch of ARTAdvisor(TM) from MDA MindBox. The platform provides risk management from early risk detection through loss mitigation by automating the review, analysis and management of any size portfolio.

ARTAdvisor(TM) combines comprehensive credit analysis with sophisticated collateral analysis to identify risky loans and to propose optimal resolutions ranging from government sponsored programs such as FHA Hope for Homeowners to lender-specific loan modifications. The platform uses a customizable rules engine to review any number of loans based on the organization’s own standards for quality and performance. This risk management intelligence enables the organization to know how individual loans and entire portfolios are performing at any given time, increasing efficiency and maintaining profitability.

ARTAdvisor identifies unseen or emerging points of risk, analyzes data from multiple sources to show trends in performance, identifies secondary market opportunities and accelerates loss mitigation strategies at the individual loan level and the portfolio level. It can also be implemented at the point-of-sale, pre-qualification or loan application stage to identify risk upfront, enhancing pricing and decisioning. ARTAdvisor can be licensed as an in-house operation, or provided as a secure on-demand Web service.

One thought on “FRAUD – It is all in the technology

  1. Ok, based on your lead in comment what you don’t seem to understand is that the tools for all this weren’t the issue. They used the business rules/parameters of the banks and upstream lenders (Fannie and Freddie) in determining what to do. These companies and their products took those rules and automated the process of applying them to data to make determinations. The root issues were the loose lending policies advocated and pushed. Things like raising the DTI’s dramatically and hiding it in the propriatary credit scoring mechanisms. The whole stack of cards was a symptom of the high profits of loan generation colluding with Govt that wanted to see home ownership increases. The guys generating loans weren’t worried about bubbles cause they were never planning to keep the loans.

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