Press Release 06.26.2006 - BytePro Enterprise

Byte Software Creates SQL Server-based Version of BytePro

PHILADELPHIA, June 26, 2006 – Byte Software, a leading provider of mortgage lending software solutions, announced today at the National Association of Mortgage Brokers Annual Conference the creation of BytePro Enterprise, the latest release to their expanding product line. Based on service-oriented architecture and using Microsoft® SQL Server technology, BytePro Enterprise is a comprehensive, enterprise level solution that enables mortgage originators to save time and improve workflow in a more secure, scalable and flexible environment.

Using SQL Server is a huge advantage; all of the loan data – from the loan files to all settings – are contained in a central database. When a change is made to the data, the entire organization can see the changes in real time, ensuring accuracy and saving time. For a company with multiple branches, storing the information in a central location enables management to view the entire pipeline quickly without first having to aggregate widespread data.

“One of the features that we find the most useful about BytePro Enterprise is that it runs off a SQL database and that it has an open architecture,” said Chris Christensen, SVP of Century Bank. “The software also empowers management to use business rules to control who has access to the loan, allowing us to proactively preserve the integrity of the data, making the process much more secure to guarantee accuracy.”

BytePro Enterprise also enables management to capitalize on security permissions to control access to information. From a personnel perspective, management can control who has access to the loan in its various stages. By restricting the ability of personnel to view or modify loan files, management is protecting its customer data as well ensuring the data is as accurate as possible. Management decides who can modify the data, which can help to prevent fraud.

From a workflow management view, business rules can be set to dictate what conditions the loan must meet before moving to the next processing stage. Rules can be set for any stage, whether it is processing, underwriting, etc. As a result, the loan package is accurate the first time, and the entire organization runs more efficiently by conforming to the same set of standards. The loan moves seamlessly through the process without interruptions caused by missing data.

“Our loan officers are seasoned veterans who have been originating loans for almost twenty years,” Christensen said. “They have worked with numerous LOS providers, and agree that Byte is superior to the other software currently offered in the market. Feature-rich functionality comes with all Byte software, but using a SQL Server-based system to store everything in one place makes all the processes that much easier.”

Other unique features of BytePro Enterprise are the audit and print logs, both available to management as a training and security tool. The audit logs capture the entire history of the loan, allowing management to see the changes that have been made. Similarly, the print logs capture what data has been printed and who printed it. This tool can be critical, particularly for compliance, as management can gain confidence that the proper disclosures are sent within the necessary time frame.

The BytePro Enterprise application has the ability to synchronize first and second piggyback loans, built-in workflow management tools, and an enhanced MISMO closing document interface. Additionally, brokers, loan officers and processors have the advantage of interfacing with an extensive selection of vendors, from credit bureaus to lenders, appraisers, settlement services and closing document companies.

Another advantage to BytePro Enterprise is the ability to restrict access to screens, documents and interfaces based upon access permissions. For instance, an originator that does not have permission to order automated underwriting can be prevented from accessing the built in Fannie Mae and Freddie Mac interfaces. This tool allows companies to control the process to give options to only those granted authorization.

“In today’s competitive environment, it is crucial for LOS providers to offer more robust and sophisticated technology to their customers” said Joe Herb, general manager of Byte Software. “At Byte Software, we not only believe in continuing to upgrade our existing products, but we are also committed to developing new solutions that build on our success. In March, we released BytePro Online, giving users remote access to their loan data. Building on that momentum, we created BytePro Enterprise, which leverages SQL Server to provide unparalleled security and control over the origination process.

According to company officials at Century Bank, the company has been using Byte software since 2000. The bank considered using other software, however, after soliciting feedback from its processors, the decision was made to continue with Byte, citing ease-of-use and user-friendly features.

Based in Texarkana, Texas, the bank is on pace to complete $200 million in loan volume this year. Century Bank recently reached $1 billion in assets; making it one of the top 20 privately owned community banks in Texas.

BytePro combines all elements of the loan transaction process into an integrated product with workflow management that is designed to better serve the needs of today’s mortgage professionals. In depth system calculations, the latest compliant technologies, superior functionality and exceptional service have made BytePro software unsurpassed in sophistication and ease-of-use. BytePro gives users a competitive advantage, allowing them to improve productivity and operational efficiency in a cost-effective manner.

About Century Bank

Organized in 1900, Century BANK has 450 employees in 25 full service offices located in New Boston, Texarkana, Wake Village, Nash, Atlanta, Dallas, Addison, Farmers Branch, and Frisco, Texas, and Texarkana and Ashdown, Arkansas. As of March 31, 2006, it had $1.06 billion total assets including $804 million in loans, $940 million in deposits, and $74 million in total capital. Its trust division also manages more than $71 million in assets.

About Byte Software

Byte Software is a leading provider of loan origination software to brokers, banks and credit unions. The BytePro solution streamlines all the processes used by originators and processors, allowing them to close more loans in less time. In 2006, the company released two additions to its BytePro product line, BytePro Online and BytePro Enterprise, expanding its ability to serve the growing needs of the mortgage community. Byte Software is a wholly owned subsidiary of CBCInnovis, a leading provider of real estate settlement services.  To learn more about BytePro and Byte Software visit www.bytesoftware.com or call 800.695.1008.