Byte Teams with Fannie Mae to Embed Desktop Underwriter in TQS.

SEATTLE--(BUSINESS WIRE)--July 10, 1996--Byte Enterprises, Inc., one of the nation's leading providers of mortgage software, partnered with Fannie Mae to add the agency's Desktop Underwriter as a seamless part of Byte's The Qualifier Series (TQS) mortgage software.

The interface is an embedded addition to TQS and enables customers to deliver underwriting decisions to prospective borrowers in minutes.

"Byte was an excellent partner and did a tremendous job in meeting our requirements for Desktop Underwriter," commented Martin Colburn, Vice President, Customer Technology Integration for Fannie Mae. "For the TQS customer, it's a huge advantage to have streamlined underwriting as an embedded part of the origination process. It's essentially a point-of-sale decision right there."

Fannie Mae's Desktop Underwriter is part of a strategy the agency is employing to develop vendor partnerships to deliver whole product solutions for lenders. Byte's strong customer base and technical expertise made it an especially attractive and logical choice. Colburn explained, "It's important to make the interface as invisible to the end user as possible. Byte used our functionality and embedded it into the TQS system to make it transparent to the Byte customer."

The TQS Desktop Underwriter interface enables Byte customers to export 1003 forms and data directly to Fannie Mae for an immediate decision. The system can seamlessly import any qualified decisions from Fannie Mae delivering comprehensive feedback regarding loans. TQS is a comprehensive loan origination software system. From pre-qualification to closing, the software performs all functions, calculations and steps in the loan process.

"We developed TQS to give our customers greater flexibility and control over their lending operations," explained Dale Eisenhart, Byte President and founder. "With the addition of Desktop Underwriter, we've expanded our customer's options. Our industry isn't static and we designed TQS with that in mind. We're pleased that Fannie Mae recognizes and values Byte as a technology partner and peer."

TQS meets all compliance and regulatory requirements including good faith, truth in lending and adjustable rate mortgage disclosures. Its interfaces also include all major credit reporting agencies as well as Chase Credit, a company specializing in merged credit information and scoring. In addition, Byte is now wrapping up implementation of Countrywide Funding's underwriting interface for TQS.

Fannie Mae is a congressionally chartered shareholder-owned company, and is the nation's largest source of home mortgage funds. 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 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, and Qpoint of Seattle.

For more information on Byte Enterprises or The Qualifier Series, write Byte Enterprises, Inc., 6016 N.E. Bothell Way, #F208, Seattle, WA 98155; or call toll free [phone].

CONTACT: Byte Enterprises

Dale Eisenhart, [phone]

or

William Mills Agency

Mark Wheeler, [phone]

[e-mail].