COLUMBIA, S.C., March 5, 2003 -- Avista Solutions, a leading provider of online mortgage software, announced today that it has completed verification of its two-way interface to Freddie Mac’s Loan Prospector automated underwriting service.  Avista is using the two-way interface to Freddie Mac for loan submissions from its Avista Accelerator™ Wholesale and Retail platforms. 

"It is exciting to be able to offer this new service to our clients," said Mark Phlieger, CEO of Avista Solutions.  "Completing the two-way interface provides point-of-sale access to Loan Prospector and eliminates the need to re-key data."

"Avista Solutions is among our first technology partners to complete Loan Prospector two-way integration verification." said Tricia McClung, Freddie Mac vice president of Loan Prospector.   "Avista’s commitment to providing integrated access to Freddie Mac’s suite of Internet-based tools allows our lenders to take advantage of the latest technologies that are streamlining the origination process."

The Avista Accelerator mortgage origination platforms provide mortgage lenders with a complete toolset for wholesale, retail and consumer direct lending. The platforms include functions such as importing loan application data into the system without re-keying information, ordering of automated underwriting, credit reports, and other fulfillment services, online lock and registration, as well as loan pipeline management and status. 

Avista Solutions can implement the system in less than 45 days and customize it to meet the needs of the client.  This proven technology is designed to streamline the origination process, increase loan production, reduce operating costs, improve customer service, and increase lender profits. 

For a demonstration of how this innovative system can benefit your business, visit us on the web at www.avistasolutions.com or call (803)788-4936

About Avista Solutions

Avista Solutions is a financial services software company that combines years of mortgage industry experience with powerful technology skills to deliver integrated solutions to lenders. 

Avista Solutions powers the mortgage websites for over 300 banks, credit unions, and mortgage companies.  More than 3,100 originators submit in excess of 56,000 loan transactions per month using lender private-labeled websites from Avista Solutions.  Avista Solutions provides the best built technology in the mortgage business.

About Freddie Mac

Freddie Mac is a stockholder-owned corporation chartered by Congress in 1970 to create a continuous flow of funds to mortgage lenders in support of homeownership and rental housing. Freddie Mac purchases mortgages from lenders and packages them into securities that are sold to investors. By doing so, we ultimately provide homeowners and renters with lower housing costs and better access to home financing. Over the next 10 years, 50 million families will take on new mortgages. Freddie Mac will be there, working with our lender customers, as a reliable and affordable source of mortgage financing.

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