Columbia National Completes Roll-out of Customized Loansoft Sales Automation System.

BERKELEY, Calif.--(BUSINESS WIRE)--Dec. 21, 1998--

More than 250 Loan Officers Equipped with Laptops in the Field

Loansoft announced today that Columbia National has completed the voluntary roll-out of MortgageWorks laptop system to more than 250 of its loan officers throughout its operations in the eastern, midwestern and southwestern United States.

MortgageWorks is Columbia National's custom suite of applications for its loan officers, including the Loansoft's WORKS sales automation system, as well as a number of Columbia National specific sales tools. MortgageWorks also provides a custom "drive panel" allowing the Columbia National loan officer easy and immediate access to Loansoft WORKS and the other sales aids and reference materials.

Columbia National has always prided itself in being a technology pioneer. MortgageWorks was specifically designed for its 375+ loan officers. Doug Douglas, executive vice president of Columbia National, said, "It seemed natural for us to develop a product like MortgageWorks, and it is our desire to have every loan officer use a laptop and to use it for more that just an application taking device. Our goal is to have it be a complete sales automation tool with everything a loan officer needs to make him or her more productive and to close more business."

Loansoft was eager to support Columbia National on this project. According to John Caner, chief operating officer at Loansoft, "When Doug called to ask if they could integrate Loansoft WORKS into MortgageWorks system, I said 'no problem', as long as we can copyright protect our product." Caner added, "Our intention at Loansoft is to provide lenders with a system they can tailor and customize to meet their unique needs. Columbia National is one of our most advanced customers by offering its loan officers a fully-tailored desktop system."

MortgageWorks acts as a complete mortgage sales solution for Columbia National. Loansoft WORKS sales automation solution is the linchpin, providing contact management, prequalification, credit and application functions, as well as an interface to the Columbia National EDS Lakewood processing system. Additionally MortgageWorks provides a variety of other sales tools, presentations and reference material for the Columbia National loan officer. These other features include a glossary of mortgage related terms, mortgage tax information, HUD median family income, pricing indicators, a presentation library for creating direct mail flyers or the option to choose from an already available list of pre-built campaigns and PowerPoint presentations geared toward consumers, builders and realtors.

"Columbia National chose Loansoft's WORKS as its sales automation software because we had a set of requirements, and Loansoft's WORKS met all the criteria. Plus it was a complementary tool to MortgageWorks," Douglas continued. "MortgageWorks is an evolving process, and we continually refine the application and its capabilities to meet the needs of our loan officers."

Columbia National has about 375 loan officers and almost two-thirds of them use MortgageWorks. Ali Landow, senior vice president, added, "We encourage all our loan officers to use the product; however, not all loan officers want to step into the technology arena. We presently have at least 20 new requests from loan officers that we are filling." Columbia National "rents" the laptops to its loan officers on a monthly basis. However, "renting" may not be the appropriate term because loan officers who use the laptop regularly and close an appropriate volume of loans have the minimal fee waived. "Ultimately, we are interested in loan officers doing business and closing business. We are not going to force anyone to use a laptop, but anyone who uses the laptop does not want to be without its functionality."

Sue Devine, a seven-year veteran account executive in Columbia National's Charlotte, N.C. office, commented, "I was excited to learn we were adopting laptop technology. I volunteered to beta the project when it began almost three years ago. The features MortgageWorks offers are tremendous time-savers. My work is more professional, and I am able to keep up with changes in the industry.

"Clients often begin the loan process and for one reason or another do not complete it as anticipated. The Loansoft's WORKS integration allows me to store borrower's information and should they return for my services, I have all their pertinent information right at my fingertips, and the updating process is easy. They are always impressed that I remember all their previous information."

MortgageWorks is an all encompassing product for loan officers. Loan applications can be transmitted to the branch offices for processing, and decisions can be returned with the necessary findings to the loan officer in hours not days. Douglas said, "We anxiously await Loansoft's new version of WORKS which was previewed at this years MBA. They provide the technology that helps us be a leader in our industry allowing us to provide the quality of service for which Columbia National is known."

About Columbia National

Columbia National, Inc., headquartered in Columbia, Maryland, is one of the leading mortgage bankers in the country, serving both the residential and commercial lending markets. With a network of over 70 branch offices in 20 states, Columbia National is expected to close $2.6 billion in residential mortgages this year.

For additional information on Columbia National contact Doug Douglas at [phone] or write 7142 Columbia Gateway Drive, Columbia, Maryland 21046. Columbia National's Internet site can be viewed at www.cn-inc.com.

About Loansoft

Loansoft Inc. is an exclusive provider of sales automation software for the residential mortgage industry. The company's Loansoft WORKS system features contact management, prequalification, product comparison, 1003 and other documentation, credit bureau and automated underwriting interfaces, and remote linking capabilities. Loansoft also provides development tools that allow lenders to customize virtually any part of the WORKS system including workflow, screens, data fields, calculations, forms, documents, and interfaces. Founded in 1993, Loansoft serves over 25 mortgage lenders and has over 6,000 software users. The company is privately held and is headquartered in Berkeley, Calif.

For more information on Loansoft, Inc. and its point-of-sale mortgage origination solutions, contact John Caner, [phone], [e-mail]; or write to Loansoft at 2855 Telegraph Avenue, Suite 405, Berkeley, CA 94705. Loansoft's Internet site can be viewed at www.loansoft.com.