Chevy Chase Bank Selects Guardian Mortgage Documents' NGIS for Web-Based Document Production for Correspondent Lenders.

Business Editors

LAKEWOOD, Colo.--(BUSINESS WIRE)--Feb. 23, 2004

Chevy Chase-specific quality controlled documents now available in

seconds online

Chevy Chase Bank of Bethesda, Md., a $12 billion financial institution, has made web-based document preparation and electronic delivery available to its correspondent lenders through Guardian Mortgage Documents' (GMD) Next Generation Input System(TM) (NGIS)(TM).

Correspondent lenders can now quickly generate documents that conform to Chevy Chase-specific guidelines and receive the documents within seconds of requesting them. NGIS provides a common portal through which correspondents can access GMD's dynamic forms engine and includes features that check for accuracy prior to document ordering, helping to ensure that all information, including pricing, is correct.

According to Chevy Chase officials, GMD's NGIS was chosen because of the firm's proven experience in supporting leading financial institutions; the flexibility of NGIS; and the unparalleled level of reliability delivered through its IT infrastructure.

"Correspondent lending is a potential high-growth area for us, and we are leveraging the best technology solutions in order to help ensure success," said Brad Seibel, Group Vice President for Chevy Chase Bank. "By giving control of the process to our correspondent lenders, we are allowing them to choose when and how quickly they can close a loan. The addition of document production and delivery from Guardian's NGIS will help continue our expansion in this increasingly important part of Chevy Chase's business."

Correspondents can access NGIS to generate a variety of program documents (fixed rate programs and all ARM products, including Interest only and optional deferred interest) without upsetting normal workflow patterns, and 24/7 web access allows correspondents to maintain 100 percent control of their document production. The software guides users through the system and validates information for quality control. Because the software is web-based, users do not need to install software from CDs, manage upgrades, or fill out and fax paperwork.

"Our portfolio loan products are more sophisticated than standard product offerings, and this requires more complex documents," said Brad Harvey, Correspondent Account Executive for Chevy Chase Bank. "Guardian's solid foundation in providing complex document solutions to major lenders enables us to provide its technology as a trusted tool to our correspondents. The web-based accessibility and speedy turnaround provided by NGIS are yet another reason for our correspondents to do business with us."

Chevy Chase Bank's correspondent lenders have unlimited access to NGIS document production services through the GMD website (www.gmd.com), and a charge is assessed for each loan, with no fee for redraws.

"In today's economic environment, lenders are challenged to identify cost-effective technology solutions that provide substantial lift in their overall business model without increasing fixed costs," said Tim Anschutz, vice president of Marketing for GMD. "Chevy Chase Bank is leveraging the reliability of GMD's IT infrastructure and the efficiencies of NGIS to increase total closing capacity with 24/7 document generation and simultaneously ensure compliance with its own program rules to eliminate post-closing problems."

About Chevy Chase Bank

With over $11.8 billion in assets, Chevy Chase Bank is the largest full-service bank headquartered in the greater Washington, D.C. area. Chevy Chase Bank provides a full range of deposit, investment and lending services to consumers and businesses, and operates 210 branches and more than 800 ATMs throughout Maryland, Northern Virginia, Washington, D.C. and Delaware. The Bank and its B.F. Saul Mortgage Company subsidiary have been a leading mortgage originator since 1892.

About Guardian Mortgage Documents

Lakewood, Colorado-based Guardian Mortgage Documents (GMD) is a provider of document preparation, automated management workflow and fully customized outsourced solutions to the national financial services industry.

Since 1987, GMD's products and services have been built on best-of-class technology designed to provide an inventory of scalable and flexible multi-product capabilities, which can be customized to deliver elegant client solutions. From simple document preparation to fully integrated and customized workflow solutions, GMD technology streamlines all processes to increase efficiencies.

GMD clients include three of the top four largest residential correspondent lending institutions in the United States*. For general information, visit www.gmd.com or call [phone]. *According to Origination News, October 2003, "Top Correspondent Lenders at Mid-Year 2003"