Byte Enterprises Announces The Qualifier Series Embedded Interface to Fannie Mae's Desktop Underwriter and Desktop Originator.

SEATTLE--(BUSINESS WIRE)--Feb. 24, 1998--Byte Enterprises announced today that their mortgage origination software, The Qualifier Series(TQS)(TM), now offers seamless access to Fannie Mae's (NYSE: FNM
FNM Free National Movement (Bahamas)
FNM Foot and Mouth ) Desktop Originator and Desktop Underwriter from point-of-sale software, offering streamlined underwriting to lenders. The interface between TQS and Fannie Mae's Desktop Underwriter and Desktop Originator allows the loan officer to simultaneously use TQS and the Fannie Mae products.

Loan officers submit borrower information directly to lenders through Fannie Mae's Desktop Originator program. The lender then uses Desktop Underwriter to obtain underwriting recommendations and reports that information directly to the loan officer. "The turnaround time can be as little as three minutes," said Dale Eisenhart, President of Byte Enterprises.

According to Stan Sheram, Group Vice President of the Mortgage Department at Athens First Bank and Trust in Athens, Georgia, "Before using the interfaces to Fannie Mae, we usually waited several days after submitting a loan to receive an underwriting decision. Now, when a client applies for a mortgage, we can get the underwriting decision and have all the necessary documents and paperwork ready and signed before the client leaves the bank. The only item needed to complete the deal is an appraisal."

Desktop Originator and Desktop Underwriter offer mortgage lenders better analytical tools, including expanded loan eligibility criteria and new mortgage risk analysis capabilities. Loan approval recommendations increased to between 60 and 80 percent. In addition, Desktop Originator offers a gatekeeper function, providing lenders the opportunity to allow brokers real-time access to underwriting decisions. Additionally, lenders have the option to provide brokers access to underwriting by product type and to specify the level of underwriting information available to brokers.

"We are pleased with the initiative that Byte has taken to seamlessly integrate their TQS product with our Desktop Originator and Underwriter systems," said David Coleman, Fannie Mae's director of consulting and integration services. "Byte's integration initiative furthers our mutual interests in bringing automation to the mortgage industry and offering lenders choices to suit their unique business needs through flexible connectivity options."

"With technology, the mortgage process is rapidly becoming more efficient and much less time consuming," said Eisenhart. "The interface between TQS and Fannie Mae is another tool available to loan officers and underwriters to aid in that process."

TQS users have the advantages of seamlessly interfacing not only to Fannie Mae's products, but also to credit reporting bureaus including First American CREDCO, Informative Research, CBC, Equifax, Experian and TransUnion. Reports can be ordered directly through TQS and the data automatically populates the liability section of the application. Additionally, TQS provides links to database management programs such as ACT! and Goldmine. All these interfaces reduce data entry time and eliminate double entry of information.

About Byte Enterprises

Headquartered in Seattle, Byte Enterprises is one of the nation's largest providers of lending software and solutions for the mortgage industry. With an installed user base of more than 4,500, Byte's flagship product, The Qualifier Series(TM) provides comprehensive processing for mortgage origination, underwriting and closing to mortgage bankers, brokers and financial institutions nationwide. Founded in 1986, Byte customers include National Bank of Arizona, Commercial Mortgage Corporation of California, NationsBanc Mortgage of South Carolina, and National City Mortgage.

For more information on Byte Enterprises or The Qualifier Series, write Byte Enterprises, Inc., 6016 NE Bothell Way, No. F208, Seattle, WA 98155; or call toll-free at [phone]. Visit their Internet site at http://www.byteenterprises.com.

For more information on Fannie Mae's Desktop Underwriter and Desktop Originator, please contact your regional Fannie Mae sales office.

CONTACT: Byte Enterprises

Dale Eisenhart, 800/695-1008

or

for Byte

Beth Quinlan, 404/264-7207