Allied Home Mortgage Capital Corp and eMagic.com Begin LOAN EZ Partnership.

Business Editors

HOUSTON--(BUSINESS WIRE)--Jan. 10, 2003

Allied Home Mortgage Capital Corporation (AHMCC) announced that eMagic has become the latest partner in Allied's LOAN EZ web portal for loan services and lenders.

Effective at the first of the year, eMagic can be accessed directly through LOAN EZ. For Allied loan originators this eliminates the need for individual sign-ups, logins, typing, cutting, pasting, importing, exporting, uploading or downloading. The Allied user simply needs to select eMagic from the list of LOAN EZ partners and press the button. The loan data and originator are then transported to the eMagic site and ready to work.

The partnership also strengthens Allied's mortgage banking activities by expediting the loan closing process. The company's "Call Home First" lender, Allied Home Mortgage Corporation (AHMC), debuted on eMagic.com on Jan. 1. Allied Home Mortgage's Call Home First Storefront on e-Magic is available only to AHMCC branch offices. Through this relationship, AHMC provides the ability to submit loans directly to Fannie Mae's Desktop Underwriter(R) or Freddie Mac's Loan Prospector(R) on the Internet and have that loan immediately available to Allied's team of corporate or regional underwriters. If AHMC closes the loan, the DU or LP is free!

Calyx(R) Software distributes Allied's proprietary LOAN EZ interface with every copy of Point(R). According to a 2001 study conducted by Wholesale Access, more than 20,000 mortgage companies in all 50 states use Calyx Point software. In fact, 55 percent of mortgage brokers and direct lenders use Point -- a figure greater than all other mortgage automation applications combined.

"eMagic is dedicated to creating efficiencies in the mortgage process," said Sal Miosi, eMagic's senior vice president of business operations. "We were pleased to work together on the EZ LOAN link to help Allied streamline their operations."

About Allied:

Founded in 1991, AHMCC is the largest privately held mortgage banker/broker in the U.S., with offices in 49 states, Guam and the Virgin Islands. It offers a wide variety of mortgage products and services from over 800 lenders. Allied is a preferred lender on Military.com (the largest military Web site on the Internet) and the exclusive mortgage lender for Carleton Sheets. The company has experienced sequential double-digit growth since it was founded and recently financed more than $1 billion dollars in a single month.

For more information about the company, visit Allied's Web sites at www.branchasap.com, www.mortgageasap.com and its new Spanish language site, www.prestamopronto.net.

About eMagic.com:

eMagic.com, LLC, is an e-commerce subsidiary of Mortgage Guaranty Insurance Corporation (MGIC), the principal subsidiary of MGIC Investment Corporation (NYSE:MTG), which is headquartered in Milwaukee, Wis. eMagic is dedicated to bringing all of the components for originating a mortgage loan together, making the process of ordering mortgage-related products and services more efficient across all potential business channels. eMagic.com is an open, neutral Web site, which will continue to expand its product and service offerings to bring value and efficiency to the mortgage originator while facilitating and promoting wholesalers' brands.