Advectis Announces Addition of PMI Mortgage Insurance Co. to the BlitzDocs Certified Underwriting Provider Program.

Business Editors

ATLANTA--(BUSINESS WIRE)--May 19, 2004

PMI increases the stable of providers in the paperless loan processing

certification program

Advectis, a provider of paperless origination, underwriting and loan archiving solutions specifically designed for the mortgage industry, announced the addition of PMI Mortgage Insurance Co. to its BlitzDocs Certified Underwriting Provider Program. The provider certification program allows providers of contract underwriting services to certify to their lender customers that they are fully trained and prepared to deliver those services via the BlitzDocs solution.

According to Greg Smith, president and CEO of Advectis, the BlitzDocs Certified Underwriting Provider Program was created as a service to lenders. "BlitzDocs technology is currently being used by a number of top 20 lenders in their origination and underwriting operations. Each of these lenders is a user of third party contract underwriting services too so it is important that their contract underwriting providers are certified to effectively manage BlitzDocs originated loans. Certifying those providers assures lenders that as they expand their use of BlitzDocs, they have a stable of technology and service providers that understand how to completely maximize the BlitzDocs solutions' efficiencies."

BlitzDocs Certified Underwriting Providers use BlitzDocs-based technology as a key solution component in their origination/underwriting process. "Our certification as a BlitzDocs Underwriting Provider is further demonstration of our commitment to support our customers in the manner most appropriate and effective for them," said John Ryan, assistant vice president of e-Business of PMI. "By supporting this technology alongside our existing suite of tools we enhance our ability to offer the most flexible and easiest to use underwriting service in the industry. We're committed to transforming origination and underwriting into paperless processes, and our BlitzDocs certification is further demonstration of that commitment."

According to Advectis, certifying providers for best practices and integration are steps toward bridging today's paper-intensive processes with tomorrow's e-mortgage by reducing costs, turnaround time and increasing overall efficiency for both brokers and lenders. To become certified as a BlitzDocs Certified Underwriting Provider, a company must have a minimum of six trained BlitzDocs underwriters on staff, be a member of the Mortgage Bankers Association (MBA), demonstrate a core competency in underwriting, offer contract underwriting services to customers and comply with basic interface requirements.

BlitzDocs allows lenders to streamline the loan document submission and underwriting process with their brokers or originators. The heart of the BlitzDocs solution is the electronic loan folder ("e-folder"), which mirrors the paper loan folder used by mortgage companies today. Using a fax machine or scanner and a Web browser, brokers, lenders, investors and other authorized parties are able to capture, submit, organize, underwrite, audit, securely share and archive submission packages and closed loan documents in real time.

With BlitzDocs, brokers can be trained on how to submit loans in as little as 30 minutes. The product can be used to process all loans, regardless of the underwriting services or mortgage insurance provider. Brokers, using ordinary fax machines or scanners, will also be able to submit imaged documents to lenders for paperless underwriting. The integration will further streamline the loan process by allowing both brokers and lenders instant access to underwriting findings, loan status, credit information and appraisals via a secure on-line connection.

About Advectis, Inc.

Advectis is the leading provider of paperless origination, underwriting and archiving solutions for the mortgage industry. Using its flagship product, BlitzDocs, Lenders are able to capture more of the better loans by delivering better service. At the heart of BlitzDocs is the collaborative electronic loan folder ("e-folder") which mirrors the paper loan folder that mortgage companies use today, and provides rapid advances in streamlining loan processes through capturing, collaborating, sharing and archiving of the e-folder.

Because BlitzDocs is usually provided as a hosted, on-demand solution, it is typically implemented in a few days with users trained in under an hour. Lenders and Brokers immediately benefit from reduced loan processing time and costs. Additionally, BlitzDocs not only provides an immediate solution to go paperless now, but also provides a platform that supports "SMART Docs" and a path to the e-mortgage. For more information about Advectis and the BlitzDocs(TM) solution, call 678.460.2460 or visit its Web site at www.advectis.com.

About PMI Mortgage Insurance Co.

PMI Mortgage Insurance Co., a subsidiary of The PMI Group, Inc. (NYSE:PMI), is a leading U.S. residential mortgage insurer, licensed in all 50 states, the District of Columbia and Puerto Rico. Residential mortgage insurance protects lenders and investors against potential losses in the event of borrower default. Private mortgage insurance facilitates the sale of low down payment mortgages in the capital mortgage market and expands home ownership opportunities by enabling borrowers to buy homes with down payments of less than 20%. PMI is incorporated in Arizona and headquartered in Walnut Creek, CA.