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Ownit Mortgage Solutions and MindBox, LLC Roll Out "OneClick" Paperless Broker Approval System

Also Launch Broker Management Portal

Ownit Mortgage Solutions and MindBox®, LLC have completed the roll out of two systems for automating broker management. The two systems are "OneClick," an automated system for approving broker applications, and "Broker Management Portal," a Web-based system for communicating with the broker community that automates certain management and compliance functions.

"These two systems have greatly improved our ability to expand the distribution of our RightLoan product and have enhanced our ability to serve our brokers," said Bill Dallas, Chairman and CEO for Ownit Mortgage Solutions. "We are helping brokers acquire and keep customers happy, which also increases Ownit's loan volume and market share. And this is only the beginning -- over the next few months we will be rolling out a series of tools we are developing with MindBox which will make Ownit the clear technology leader in mortgage lending."

"MindBox has proven technology for the mortgage origination process, and we had the ability to build these systems quickly for Ownit," explained Rich Barfus, President of MindBox, LLC. "Ownit's lending philosophy is all about getting people loans without the bureaucracy -- about empowering the loan approval decision at the point of sale. So it's only natural that they've made the investment in MindBox's automation technologies."

OneClick

OneClick is an automated, paperless Broker Approval Process that allows brokers to obtain approval through Ownit's website in about 3-5 days. This year, some states will be fully automated with a broker approval expected to be less than one hour.

Bruce Dickinson, Ownit's COO, explains, "We have removed the need for the broker to deliver and Ownit to process some of the more meaningless data the mortgage industry tends to hold onto and, instead, focused on the things we believe make a difference in doing business with quality brokers. That includes things like proper licensing, a National Fraud Protection Database (NFPD) review, OFAC compliance, Lexis/Nexis search, SSN/TIN validation and Industry and our own Watch list review. Brokers can access OneClick technology at Ownit's website located at www.ownitmortgage.com."

Broker Management Portal

The Broker Management Portal provides all of Ownit's branches with the ability to remotely maintain their broker relationships. In addition, it begins to automate the entire broker management/compliance function.

"With this technology, we have been able to drive down our cost to produce. Increasing access to this information has allowed us to more efficiently manage this group of customers," says John du Hadway, Ownit's CFO.

About Ownit Mortgage

Ownit Mortgage Solutions is a provider of unique mortgage solutions focused on serving brokers throughout the United States. Ownit's main office is located in Agoura Hills, CA, combined with a nationwide network of offices offer a comprehensive line of mortgage solutions. The RightLoan™, the company's proprietary product, is a risk-based product focused on purchase money, owner-occupied mortgages offering up to 100% financing. Ownit Mortgage Solutions has recently expanded, adding locations in Kansas and Florida. These branches, as well as the 12 existing branches, will offer Ownit additional coverage across the country and the opportunity to greatly increase performance. More information about Ownit Mortgage Solutions can be found by visiting www.ownitmortgage.com, or by calling 877-443-0405.

About MindBox, LLC

MindBox® 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.

MindBox technology integrates Internet interfaces and other client contact channels with back-end business operations into one streamlined, efficient system that provides individually tailored, optimized customer interactions. More information can be found by visiting www.mindbox.com or by calling (877) 650-MIND (6463).

© 2005. All rights reserved. MindBox® is a registered trademark of MindBox, LLC. Ownit™ is a trademark of Ownit Mortgage Co Inc. All other trademarks and company and product names are property of their respective owners.

Distributed by Market Wire