Closed Loop QA/QC Extension at MBA's Quality Assurance Conference
Press Release Archive - September 2006

Visionet Systems Introduces Middleware Solution with Closed Loop QA/QC Extension at MBA’s 2006 Quality Assurance Conference

VisiLoanReview® now enables automated predictive modeling, risk management and error recording

SAN DIEGO, September 26, 2006 – Visionet Systems has announced the availability of a closed loop QA/QC extension for VisiLoanReview® (VLR), a 100 percent Web-based program providing electronic quality control reviews and automated underwriting to the investor community. The enhancement enables automated reviews and checks based on the source of the loan, product characteristics, fraud markers and agency and investor guidelines. The news was announced today at the Mortgage Bankers Association’s 2006 Quality Assurance conference in San Diego.

Through the extension, artificially intelligent software continually scorecards the reviews performed and defects encountered while building algorithms to automatically adjust the level of due diligence when a loan similar in characteristics enters the supply chain. VisiLoanReview® has increased capabilities to streamline the mortgage supply chain between origination, secondary marketing and servicing sub-divisions through automation, resulting in a stronger middleware that reduces errors and delays.

“Our research shows that, on average, 20 percent of mortgages have a deficiency that will cause a serious financial loss due to repurchase, fraud or lack of regulatory compliance,” said Arshad Masood, president of Visionet Systems. “In response, we have developed a solution that benefits the lender through increased efficiency and that ultimately impacts the consumer through lower labor costs and verified correct information. This closed loop automation is a product of our continual dedication to enhancing VisiLoanReview® to meet our clients needs.”

In addition, VisiLoanReview® helps move processes to outsourced vendors and workers at different locations throughout the world through a single Web-based system. In conjunction with Visionet’s VisiRepurchase® platform, the enhanced solution completely automates the loan review, repurchase demand and appeal process for investors and sellers.

ABOUT VISIONET SYSTEMS INC.

Cranbury, N.J.-based Visionet Systems is a full service mortgage consulting and business process outsourcing company that delivers products in the best-of-breed philosophy. Using a combination of consulting, metrics-based technology solutions and business process outsourcing, Visionet Systems helps lenders identify and remove inefficient processes to improve profitability. Founded in 1995, the company’s customers include mortgage lenders and servicers.

For more information, visit www.visionetsystems.com

Visionet Systems Inc.
www.visionetsystems.com
3 Cedarbrook Drive
Cranbury, NJ 08512
Phone 609.452.0700
Fax 609.655.5232
mortgage@visionetsystems.com

Contact:

Arshad Masood
Visionet Systems Inc.
609-452-0700 Ext. 1119
arshad@visionetsystems.com

Joy Harper
Visionet Systems Public Relations
(678) 799-8118