Out of the Box  n n n n n n n n n n n
A MindBox Newsletter Issue 11, June 2006

Letter from the President

This has been a great exciting year for the company. Recently, MindBox became a subsidiary of MDA. This exciting change has given us even more resources to expand our technology, making new options and products available to the mortgage market more rapidly than ever before. The company has attracted a number of new customers. Sales are brisk! Thanks to many of you who have agreed to provide references. We are in the process of launching a new product to add to the suite - The MindBox Power Portal. The MindBox Power Portal provides various user interfaces and portals to manage the various stages of the loan origination decisioning process including the 1003 information, 1003 uploads, credit data management, loan officer or broker pipeline management, and numerous other functions. This allows us to provide a very flexible “face” to our decisioning engines.

I want to express a special thanks to our customers. This year is a tremendous growth year for the company and it is your trust and loyalty that has made it possible. We take this responsibility very seriously. Thank you for allowing us to help you change the face of the mortgage lending industry.

I hope you find this edition of Out of the Box informative. If you have any questions, please feel free to contact me. We are committed to your success. Feel free to call or write any time (rich.barfus@mindbox.com)!

Thank you for your continued support.

- Rich Barfus, CEO and President

 

Technology Update with Brian Sauk

We have had some significant product rollouts recently, and others planned for release in the next few months:

  • In February, we delivered MindBox Power Editor 4.4, with support for Crystal Reports (and other 3rd party reporting tools that can use XML files as a dataset)
  • In March, we released ARTOptimize™ 2.0 with improved pricing and best-fit capabilities, and an updated version of CreditManager
  • In June, our core decisioning engine will be integrated with Marshall Swift's RCT Express product, providing value added decisioning on top of the valuation and hazard data from RCT Express
  • Also in late June, ARTEnterprise™ 10.1.1 will be released, with performance improvements for object patterns, and improved ESP control for failed transactions
  • We anticipate release of MindBox Power Portal 2.0 at the end of July - this is the latest version of our Broker Portal and User Interface to go along with ARTOptimize™
  • In August, we will begin offering ARTOptimize™ Express - an ARTOptimize™ solution delivered in a hosted environment

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MindBox in the News

MindBox® announced in January that its ARTEnterprise™ product family has been selected by the Software & Information Industry Association (SIIA) as a finalist for the 21st Annual Codie Awards in the Best Vertical Market Software Solution category. MindBox was chosen as an award finalist from a field of 1026 nominations submitted by more than 500 companies. MindBox® also made the following two announcements in May:

  1. MindBox announced 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.
  2. MindBox also announced that United Mortgage Lenders, Inc, a national retail mortgage banker offering both prime and subprime loan products, has purchased MindBox’s ARTOptimize™ product suite to implement a mortgage lending pricing and product selection decisioning system. United Mortgage Lenders’ new loan decision system, called Bulls-Eye is designed to help loan officers satisfy customers with individually tailored loan programs and pricing. The Bulls-Eye system automates loan pricing and product selection and goes beyond today’s basic loan origination systems by automatically calculating the product and price that best matches the borrower’s needs – enabling the loan officer to propose a better offer to their customer in seconds.
MindBox has also been featured in several key articles in such publications as Mortgage Technology Magazine, Mortgage Technology Journal and American Banker.

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What's Ahead

Our next edition of the newsletter will be sent out in November, 2006. If you know of others who would like to receive the newsletter, please have them email Yared Benyam at Yared.Benyam@mindbox.com to be added to the distribution list.

Here's a sneak peak of what's to come in the next edition:

  • MindBox Product Update
  • MindBox in the News
  • Partnerships and Customer Update

If you have any questions or comments, please e-mail them to Yared Benyam at Yared.Benyam@mindbox.com.