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NetFinance Solutions and Open Rule Systems Announce Strategic Partnership


April 13, 2011 - LONG BEACH, CA

Lending system technology leaders NetFinance Solutions and Open Rule Systems have formed a partnership to integrate their respective solutions, creating a seamless automated workflow for loan origination and loan servicing.

Open Rule Systems of Grapevine, Texas, provides the most advanced automated loan origination technology in the industry with its Application Process Manager (APM) solution. APM enables lenders to create and automate underwriting, scoring, and decisioning rules while managing the entire origination process flow. NetFinance Solutions, of Long Beach, Calif., delivers intelligent, world-class web-based loan management technology that manages all aspects of servicing workflow and allows open access for easy integration with other systems, while maintaining centralized analytics and reporting throughout.

The two companies have built an XML-based interface between APM and NetFinance Solutions that moves all data from APM-generated originations directly onto the NetFinance Solutions servicing platform. The data flows automatically, over the web, and because the integration is direct, every nuance of the origination process flows through to the servicing, collections, recovery and portfolio management functions. The tight integration also enables advanced performance analytics -- every tweak to an underwriting program can now be easily measured against actual servicing performance, using the analytical tools which are an integral part of NetFinance Solutions' offering.

"Efficiency in lending is all about automating and managing workflow," said Mark Gleason, president of NetFinance Solutions. "Open Rule and NetFinance each bring the most automated workflow capability from their respective parts of the lending process. Tying it all together isn't really too difficult, but the icing on the cake is adding the ability to correlate underwriting decisions with servicing results in a multidimensional analytical view, without having to build or buy anything else."

Robert Skidmore, president of Open Rule, agrees that the integration makes strategic sense. "Making it really simple for our customers to move loan origination information from APM to an advanced servicing platform has long been a goal for Open Rule," said Skidmore. "NetFinance Solutions meshes perfectly, and the automated combination of the two platforms will be a big win for clients."

The XML integration technology is available immediately. Contact either Open Rule Systems (www.openrule.com) or NetFinance Solutions (www.netfinancesolutions.com) for further information.

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NFS:
Holly Ferris
Email Contact
562-429-6456

Open Rule:
Robert Skidmore
Email Contact
630-660-8923

MarketWire

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