1st Metropolitan Installs Web-based GHR/Loansoft System; Broker Provides Online Connectivity at the Point of Sale.

Business Editors

CHARLOTTE, N.C.--(BUSINESS WIRE)--Feb. 11, 2004

1st Metropolitan Mortgage, a national mortgage broker and a division of Empire Equity Group, Inc., announced that it has become the first mortgage broker to implement a Web-based loan origination software from Loansoft, a GHR Systems company. The system will make 1st Metropolitan more efficient and allow the company to operate with less paper by allowing originators to access and share information via the Internet.

1st Metropolitan, which spent two years researching systems to meet the company's requirements, made the decision to install Loansoft's LS Studio Online software in order to give its more than 250 branches the convenience of being able to access loan origination information online. Unlike other systems that claim to be Web-based but require software installation, 1st Metropolitan found that the GHR/Loansoft application is truly online. "This eliminates the burden of maintaining software at the local levels," said Daniel Jacobs, chief operating officer at 1st Metropolitan, "and allows our production staff the freedom to focus on their clients instead of IT issues."

LS Studio Online offers point-of-sale sales tools, pre-qualification, loan application, automated underwriting and credit services, compliance assurance, reporting and connectivity; as well as full loan processing capabilities. The system also provides 1st Metropolitan with the thorough contact management it wanted because of 1st Metropolitan's continued growth and need to centralize contact information and make it easily accessible. During a six-week beta test that allowed the company to test LS Studio Online in a small group, 1st Metropolitan was able to get feedback and make modifications before making access widely available.

"In this day and age to say that a company needs to be agile and efficient in the way it originates loans is an understatement," Jacobs said. "Systems such as LS Studio Online give us the edge we need not only to be competitive but to improve our business strategy. The GHR/Loansoft team was very responsive to our needs, the system is very innovative, and it has the same business philosophies we do which is very important to us in our partnership.

"With the custom features and enhancements that 1st Metropolitan has incorporated in LS Studio Online, we will be able to more seamlessly integrate with our preferred lenders and vendors," Jacobs said. "At the same time we are redefining these important relationships and creating closer bonds with our key business partners."

The level of customization that 1st Metropolitan has integrated into LS Studio Online will also help the company remain competitive, Jacobs said. "We're looking forward to adding more custom features to the system in order to meet the unique needs of our production staff," he said. "In a short time, we're expecting LS Studio Online to become a customized platform powered by Loansoft."

1st Metropolitan has added dedicated support staff to help with customization and provide help desk assistance for system users. "At 1st Metropolitan, our goal is to provide our production staff with the best tools available to ensure their success in this changing marketplace and that is the foundation for our company's success," Jacobs said.

Loansoft, which was recently acquired by GHR Systems, started offering the Web-based application in 2003. "Because of the new relationship with GHR, we're looking forward to even more features in the future," Jacobs said.

About 1st Metropolitan Mortgage

1st Metropolitan Mortgage, headquartered in Charlotte, N.C. and a division of Empire Equity Group since 2002, is a national mortgage brokerage, offering products from such lenders as Countrywide Home Mortgage, Chase Mortgage and Washington Mutual. The company is licensed in 48 states with approximately 250 branches nationwide. Leveraging the 20 years of experience of its parent company, 1st Metropolitan has an aggressive business development strategy. 1st Metropolitan theme for 2004 is Opportunity Amid Change: The Art of Being 1st.

For more information, visit www.1stmetro.com.

About Empire Equity Group, Inc.

Empire Equity Group has been in business since 1983 focusing heavily in the Northeastern United States. Since the acquisition of 1st Metropolitan, Empire has established development programs for branch managers, additional infrastructure to meet the needs of branches and installed the latest technology, such as an expanded intranet site and an innovative online loan origination system. For more information, call 704.552.0123.

About GHR Systems

GHR Systems, Inc. provides browser-based and client server platforms and applications for originating, processing and closing loans for the residential mortgage, consumer and small business lending industries. GHR's clients, including numerous industry leaders among the top 150 national mortgage lenders, use GHR technology and services to better market, sell and close loans through all their distribution channels, including wholesale, retail, consumer direct and correspondent. GHR has been featured in Inc. magazine's list of the 500 fastest growing, privately held companies in 2002 and 2003, and is a Microsoft Gold Certified Partner. GHR processes more than 7.5 million transactions annually. In October 2003, GHR acquired Loansoft, Inc., a leading provider of mortgage automation solutions, located in Berkeley, Calif.