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IBM Delivers New Offerings to Transform Lending Capabilities for the Mortgage Industry

New Point-of-Sale (POS) Capabilities and Loan Origination System (LOS) Enhancements Deliver on IBM's Vision for Next Generation of Loan Fulfillment

ARMONK, NY - 15 Oct 2007: IBM (NYSE: IBM) today announced that it will launch a new set of hosted multi-channel Point of Sale (POS) offerings that will enable lenders to better manage their interactions with mortgage brokers and consumers.

The company also announced enhanced electronic loan file capabilities and functionality as part of its core service offerings that would increase efficiency, productivity and fast response times for lenders during the loan decision process. Today's announcements further demonstrate IBM's commitment towards helping the industry grapple with the challenges around mortgage origination in the midst of unprecedented shifts in the marketplace. IBM's service and technology efforts are designed to help mortgage lenders better facilitate, manage and streamline their business processes to reduce costs and increase efficiencies in their operations.

The new utility-based POS solution leverages IBM's Palisades Technology Partners offerings, which IBM acquired one year ago. The new hosted offerings deliver advanced functionality on a variable cost basis and are designed to enable the free flow of customer information between borrowers and lenders to quickly deliver the right solution for customers at the right time. With functionality for product eligibility, product fit, side-by-side pricing, loan status and eDocuments delivery, IBM is now offering market-leading functionality on a hosted utility basis, which translates into reduced implementation complexity, cost and risk.

"One of the main benefits of the Palisades acquisition was the opportunity for us to join with IBM to enable new offerings," said Palisades Technology Partners founder Carmine Cacciavillani, now manager of IBM's mortgage lending services division. "Today we are bringing to market a multi-channel point-of-sale solution that arms consumers, loan officers and brokers with the tools and information they need to successfully execute mortgage loan transactions. We had always envisioned offering world class solutions to an industry in need; now we can deliver. "

Hosted POS solutions also answer a growing challenge in the industry as customers look to move away from laptop-based client server applications to web-enabled applications to protect against potential loss of customer information via laptop theft or data corruption. Hosted solutions also help clients cut down on the costs of maintaining their own applications.

IBM's enhanced electronic loan file builds on the capabilities of Palisades, the mortgage origination software choice for top mortgage lenders, as well as another strategic IBM acquisition in 2006: FileNet® technology, the leading enterprise content management solution for financial services.

IBM's enhanced electronic loan file enables significant operational and productivity improvements and faster response times to information used to render a loan decision. In addition, real-time notification and continued access to documents associated with a loan provides a higher level of service and reduces turnaround times for processing requests.

"Our new, hosted POS applications and enhanced LOS capabilities present a powerful new value proposition to lenders," said Greg Sullins, Executive Director of IBM Lender Business Process Services, Inc. "Given the volatility in the market and the increased pressure on expenses, IBM is in a unique position through acquisitions and IBM's own technology innovation to help lenders approach an end-to-end solution to loan fulfillment."

About IBM Lender Business Process Services, Inc. (LBPS)
IBM LBPS was formed with a vision to build and deliver the next-generation mortgage loan fulfillment capabilities. LBPS provides lenders an opportunity to leverage leading, SOA-based technology to standardize and automate mortgage origination processes to drive down costs and reduce risks. Lenders can also tap into LBPS's superior mortgage origination capabilities to completely outsource their mortgage fulfillment operations, allowing lenders to move from fixed cost infrastructures to variable cost structures that enable more consistent performance through market and interest rate cycles. LBPS also enables lenders to improve focus on those activities that provide competitive differentiation: brand, product, distribution network and service experience.

Leveraging deep industry expertise, industry-leading applications, and IBM's virtually unmatched technology and operational capabilities, IBM is helping to redefine how competitive lenders meet today's marketplace challenges.

IBM Lender Business Process Services, Inc., "The Loan Fulfillment Advantage," is based in Charlotte, NC.

About IBM
For more information about IBM, please visit www.ibm.com.

Contact(s) information

Fred Clarke
IBM Media Relations
914-715-5986 (cell)
914-765-6700 (IBM office)
fredc@us.ibm.com

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