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Teres Solutions and RateGenius Bring Automated Auto Loan Refinancing to Credit Unions and Financial Institutions

"Whether or not automobile sales are growing, there's always an opportunity for organizations to expand their lending businesses with refinance and recapture programs," said Chris Brown, president and CEO of RateGenius, Inc. "With the help of Teres Solutions, we are providing a new way for credit unions and financial institutions to tap into the refinance market and automate the entire process from loan application review and approval to funding."

The integration with RateGenius provides SAIL software clients with electronic access to a growing network of auto refinance applications. In addition, users can also tap into applications for other kinds of products, including Gap insurance, credit life, accident and health, warranties, auto and home insurance and more. After setting up their underwriting criteria in the SAIL system, credit unions and financial institutions can automate their loan application review, approval and funding procedures. As a result, they're able to process and fund more refinance loans then ever before.

"We're impressed with the power of the integrated system developed by RateGenius and Teres Solutions for auto loan refinancing," said Mike Fisher, senior vice president of lending, Velocity Credit Union. "We believe that this program will benefit both Velocity and our membership."

"Auto loan refinancing provides new ways for lenders to expand their direct loan portfolios," said Tim Kelly, CEO of Teres Solutions. "In many instances these direct-to-consumer loans perform better over time. We're honored to be working with RateGenius to give our clients easy access to this growing and important lending market segment."

For more information on Teres Solutions, visit www.teressolutions.com.

About RateGenius, Inc.

RateGenius is a multi-state, web-based loan brokerage company based in Austin, Texas. Established in 1999, RateGenius has brokered more than 47,000 loans resulting in $1 billion million in loan volume for its lender base. For more information on the company and its offerings, visit www.rategenius.com.

About Teres Solutions, Inc.

Teres Solutions , Inc., a wholly-owned subsidiary of CRIF, was founded in 2002 for the express purpose of developing direct and indirect lending software products that define the state-of-the-art for the financial institution market. Its Software Application for Integrated Lending (SAIL) direct and indirect lending products allow financial institutions to streamline lending decisions, increase revenue through enhanced loan application processing efficiency, improve dealer and member relations, and augment loan tracking and reporting capabilities. Teres Solutions has been recognized as a Microsoft Gold Certified Partner with accredited core competencies. Visit www.teressolutions.com for more information on Teres Solutions, its products and services.

About CRIF

CRIF is a global company specializing in the development and management of credit reporting, business information and decision support systems. Established in 1988 in Bologna, Italy, CRIF has an international presence - operating in over four continents, including Europe, America, Africa and Asia.

SAIL is a registered trademark and Teres Solutions is a trademark of Teres Solutions, Inc. All other company and product names mentioned are used only for identification and may be trademarks or registered trademarks of their respective companies.

Media Contact:
For Teres Solutions, Inc.
Karl Scholz, 512-493-0909
karl.scholz@virtualprdirector.com
or
Company Contacts:
Teres Solutions, Inc.
Tim Kelly, 512-218-4200
info@teressolutions.com
or
RateGenius, Inc.
Julie Shinn, 512-302-6407
jshinn@rategenius.com