Byte Enterprises Develops New Interface With Freddie Mac.SEATTLE--(BUSINESS WIRE)--June 1, 1999-- Loan Prospector(r) on the Internet through TQS TQS Total Quality Service TQS Television Quatre Saison TQS Throttle Quadrant System (gaming) TQS Total Quality Score TQS Total Quality Selling, Inc. AU-Express provides mortgage originators with point of sale access to the industry's most powerful automated underwriting service Byte Enterprises announced that the company has developed a new automated underwriting tool in conjunction with Freddie Mac Freddie Mac: see Federal Home Loan Mortgage Corporation. called TQS AU-Express that will allow access to Loan Prospector(r) on the Internet. Byte Enterprises is a national provider of mortgage origination software, providing seamless interfaces and automation to more than 6,400 mortgage bankers and brokers throughout the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . TQS AU-Express is an interface component that will be rolled out with the company's latest version of The Qualifier Series(tm), now called TQSPlus. Originators may use any Internet service provider Internet service provider (ISP) Company that provides Internet connections and services to individuals and organizations. For a monthly fee, ISPs provide computer users with a connection to their site (see data transmission), as well as a log-in name and password. (ISP (1) See in-system programmable. (2) (Internet Service Provider) An organization that provides access to the Internet. Connection to the user is provided via dial-up, ISDN, cable, DSL and T1/T3 lines. ) to access Loan Prospector on the Internet from TQS AU-Express. The service's simple, intuitive design provides originators with on-line help and highly detailed feedback messages, including a streamlined checklist for borrower documentation. And originators will have the power to gain firm investor decisions in just minutes. Byte has simplified the communication methods with its interface as well. AU-Express is programmed to launch the computer's Web browser The program that serves as your front end to the Web on the Internet. In order to view a site, you type its address (URL) into the browser's Location field; for example, www.computerlanguage.com, and the home page of that site is downloaded to you. when commanded and upload the application file and information to a secure Web site. At this point, the originator sends the application to Freddie Mac on behalf of a sponsoring lender. The results are immediately accessible by both the originator and lender. "Loan Prospector on the Internet through TQS AU-Express offers mortgage originators easy, point of sale access to the industry's leading automated underwriting service and the ability to approve many more borrowers than ever before with much less work," said Peter Maselli, Freddie Mac's senior vice president of Business Development. "Originators who are looking for Looking for In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. ways to grow their business and provide borrowers with world-class customer service at the point of sale are now just a computer click away from maximizing their business potential." "The Internet is a powerful tool in many industries, and by offering this interface with Freddie Mac, loan officers can now more fully realize the benefits of automated underwriting," said Dale Eisenhart, president of Byte Enterprises. "Taking advantage of the power of the World Wide Web, AU-Express offers users a choice of underwriting tools - a variety of information and sources at their fingertips "Fingertips" is a 1963 number-one hit single recorded live by "Little" Stevie Wonder for Motown's Tamla label. Wonder's first hit single, "Fingertips" was the first live, non-studio recording to reach number-one on the Billboard Pop Singles chart in the United States. ." About Freddie Mac Freddie Mac is a stockholder-owned corporation chartered by Congress in 1970 to create a continuous flow of funds Flow of funds In the context of municipal bonds, refers to the statement displaying the priorities by which municipal revenue will be applied to the debt. In the context of mutual funds, refers to the movement of money into or out of a mutual funds or between or among to mortgage lenders. By supplying lenders with the money to make mortgages and packaging the mortgages into marketable securities Marketable Securities Very liquid securities that can be converted into cash quickly at a reasonable price. Notes: Marketable securities are very liquid as they tend to have maturities less than one year, and the rate at which these securities can be bought or sold has , Freddie Mac sustains a stable mortgage credit system and reduces the mortgage rates paid by homebuyers. Over the years, Freddie Mac has opened doors for one in six homebuyers in America and two million renters. For more information about Loan Prospector on the Internet, contact your Freddie Mac representative or visit www.freddiemac.com. 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 6,400, 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 South Carolina, state of the SE United States. It is bordered by North Carolina (N), the Atlantic Ocean (SE), and Georgia (SW). Facts and Figures Area, 31,055 sq mi (80,432 sq km). Pop. (2000) 4,012,012, a 15. , and National City Mortgage. For more information on Byte Enterprises or The Qualifier Series, write Byte Enterprises, Inc.,7023 N.E. 175th Street, Suite H, Kenmore, WA 98028; or call toll-free at (800) 695-1008. Visit their Internet site at www.byteenterprises.com. |
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