GMAC-RFC Selects the webMethods Integration Platform to Automate Funding Approval Process; Technology Enhances Customer Loan Experience While Decreasing Operational Expenses.Business/Technology Editors FAIRFAX, Va.--(BUSINESS WIRE)--May 22, 2001 webMethods, Inc. (Nasdaq: WEBM WEBM webMethods Inc. (stock abbreviation, AMEX) ), the leading provider of integration software, today announced that Residential Funding Corporation (GMAC-RFC) will use the webMethods integration platform to enhance automation of its funding approval process. Using webMethods software, GMAC-RFC will connect customer applications internally and with outside firms that provide crucial information for loan approvals or funding requests. webMethods' software streamlines the complex process of loan approval, including electronic data capture and point-to-point file transfer. The webMethods platform allows mortgage lenders, investors and consumers to exchange information electronically, resulting in faster approval times and greater accuracy. "webMethods provides GMAC-RFC with the tools to efficiently, accurately and securely transfer information that automates investment processes," said Dave Mitchell, president and COO of webMethods. "Knowing that a fully automated system will effectively satisfy its customers' needs, GMAC-RFC can focus on other aspects of its business." Through webMethods' support for open Internet standards and protocols, GMAC-RFC can quickly connect with new and existing trading partners in order to incorporate resources and technology systems. "As we implement systems based upon webMethods' software, we anticipate a smoother loan approval process," said Rick Greenwood, CIO CIO: see American Federation of Labor and Congress of Industrial Organizations. (Chief Information Officer) The executive officer in charge of information processing in an organization. of Residential Capital Group, GMAC-RFC. "We are committed to developing partnerships and innovative technology that bring value to our partners, and ultimately, home buyers. webMethods' software will help us enhance our existing loan process and continue to serve the best interests of our brokers and consumers." About GMAC-RFC GMAC-RFC, a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of GMAC GMAC General Motors Acceptance Corporation GMAC Graduate Management Admission Council GMAC Give Me A Call GMAC Genetic Manipulation Advisory Committee GMAC Genetic Modification Advisory Committee (Singapore) GMAC Give Me A Chance Financial Services, is America's largest non-agency issuer of mortgage-backed securities Mortgage-backed securities (MSBs) Securities backed by a pool of mortgage loans. (MBS See Mb/sec. MBS - mobile broadband services ) and home equity loan (HEL) asset-backed securities (ABS), and number one warehouse lender. The company leverages its strengths in securitization, lending and investment to offer a broad portfolio of innovative capital solutions. The company is headquartered in Minneapolis and operates in the United States, Europe and Latin America. www.gmacrfc.com. About webMethods, Inc. webMethods, Inc. (Nasdaq:WEBM) is the leading provider of integration software. The webMethods integration platform allows customers to achieve quantifiable R.O.I. by linking business processes, enterprise and legacy applications, databases and workflows both within and across enterprises. By deploying the webMethods integration platform, customers reduce costs, create new revenue opportunities, strengthen relationships with customers, substantially increase supply chain efficiencies and streamline internal business processes. Founded in 1996, webMethods is headquartered in Fairfax, Va., with offices throughout the U.S., Europe and Asia Pacific. webMethods has more than 625 customers worldwide including Global 2000 leaders such as Citibank, Dell, Eastman Chemical, The Ford Motor Company, Grainger, Motorola and Starbucks. webMethods' strategic partners include Accenture, Ariba, BroadVision, Commerce One, Deloitte Consulting, EDS (Electronic Data Systems, Plano, TX, www.eds.com) Founded in 1962 by H. Ross Perot (independent candidate for the President of the U.S. in 1992), EDS is the largest outsourcing and data processing services organization in the country. , Hewlett-Packard, i2 Technologies, J.D. Edwards, KPMG KPMG Klynveld Peat Marwick Goerdeler (accounting firm) KPMG Kaiser Permanente Medical Group KPMG Keiner Prüft Mehr Genau (German) KPMG Kommen Prüfen Meckern Gehen Consulting, Microsoft, Oracle Corp., SAP AG and Siebel Systems. More information about the company can be found at www.webMethods.com. webMethods is a registered trademark of webMethods, Inc. All other company and product names are property of their respective owners. This press release contains various remarks about the future expectations, plans and prospects of webMethods that constitute forward-looking statements for purposes of the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions under The Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. The actual results of webMethods may differ materially from those indicated by these forward-looking statements as a result of various important factors, including those discussed in the Risk Factors section of webMethods' Form 10-Q Form 10-Q See 10-Q. for the quarter ended September 30, 2000, as amended, and Form S-3, both of which are on file with the Securities and Exchange Commission. |
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