Bloomfield Servicing Co. Completes Implementation of Enterprise! Loan Management System.

Business Editors/Technology Writers

LITTLE ROCK, Ark.--(BUSINESS WIRE)--Aug. 14, 2000

Univest, a provider of software and data management services to the mortgage finance industry, announced today that it has successfully completed the second implementation of its Enterprise! Loan Management System with Bloomfield Servicing Co. Bloomfield is a Birmingham, Mich.-based subsidiary of publicly held Bingham Financial Services Corporation (Nasdaq: BFSC). Bingham, through Bloomfield Servicing's affiliate Bloomfield Acceptance Co., is one of the largest commercial mortgage bankers in Michigan as well as a nationwide lender and, through Dynex Financial, is one of the country's largest manufactured home lenders.

Bloomfield Servicing, a servicer of various portfolios of commercial mortgage loans including securitized portfolios, converted to Enterprise! from two other legacy systems to manage $1.2 billion in loans held by BFSC affiliates and outside institutional investors.

John Spalding, president of Bloomfield Servicing, said, "My confidence in the Enterprise! system and its benefits has done nothing but increase during the conversion process. The system's browser platform, full integration with Microsoft Office tools, open database and single electronic loan file make Enterprise! the only choice for Bloomfield.

"Enterprise! will support our efforts to substantially increase our portfolio size while minimizing additional hardware and personnel costs," Spalding said.

Wes Hall, chief executive officer of Univest, said, "We are pleased to announce Bloomfield as our second client in production on Enterprise!. Bloomfield has aggressive plans for growing their servicing portfolio, and we are excited to be providing the system that can help them accomplish their goals with efficiency."

Enterprise! is the first Internet-ready, browser-based solution for commercial mortgage loan management, providing full integration of loan servicing, accounting, asset management and reporting -- standard reporting, custom reporting and investor reporting. Enterprise! merges Internet technology with Univest's 15 years of experience in lending, due diligence and portfolio management. Enterprise! is the foundation for a suite of Internet-based products that will strive to fundamentally transform the commercial mortgage loan and real estate industries by increasing productivity and lowering total cost of ownership.

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