Nationwide Announces a Large-Scale Technology Initiative: SMART - Technology-Advantaged Mortgage Lending.Business Editors & High-Tech Writers HOUSTON--(BUSINESS WIRE)--Sept. 27, 2002 Nationwide Capital Corporation (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :NCCN NCCN National Comprehensive Cancer Network NCCN North Carolina Center for Nursing (Raleigh, NC) NCCN Nevada County Community Network ) announced today the release of a comprehensive technical architecture and development roadmap upon which the company is building the next-generation information technology system that will be known as "Secure Mortgage Automation in Real Time" - SMART(TM). The SMART(TM) system is the cornerstone of NCCN's entire line of commercial and residential mortgage activities that will include mortgage origination, processing, underwriting, funding, servicing and secondary marketing and securitization of mortgages. The release of the company's architecture marks the first step in NCCN's technical development initiative to build the seamless next-generation system. The SMART(TM) architecture is based on next-generation transaction-oriented information processing technologies that is closely coupled with a national IP-based data network. The system securely connects NCCN's remote offices, branches and home-based workers to a centralized processing facility. The system can handle the entire scope of the mortgage process itself and provide administrative functions for the management of the company's mortgage pipeline. The SMART(TM) system also provides a messaging and communication backbone that will integrate all of NCCN's data, voice and video requirements into a single multifunction system. The SMART(TM) system is intended to be used by mortgage professionals employed or associated with NCCN's nationwide network, as well as its borrower-customers. This total mortgage process, from beginning to end, will allow status checking, messaging and provide greater consumer transparency of the mortgage process. "We anticipate that our SMART(TM) Technology will result in a system that will reduce our operations costs, enhance the value of our loan assets, generally increase our efficiency and increase the overall velocity of the mortgage process itself," said Greg Moffitt, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Nationwide Mortgage Corporation. "Our system provides the company with highly advanced material competitive advantages in the mortgage industry under the management of Bill Anderton, our CTO (Chief Technical Officer) The executive responsible for the technical direction of an organization. See CIO and salary survey. ." The SMART(TM) Technology provides an overall roadmap for the general development of the system as well as clear guidance for NCCN's technology partners and vendors who are helping the company to build and operate the system. Nationwide's Chief Technology Officer Bill Anderton has expert knowledge of high-speed network architecture, expert knowledge of Internet Protocol including routing protocols, routing policy and design, network security topics and domain namespace. He has a vast amount of experience of current data network technologies as applied to both core carrier networks and edge networks including TDM (Time Division Multiplexing) A technology that transmits multiple signals simultaneously over a single transmission path. Each lower-speed signal is time sliced into one high-speed transmission. , ATM, SONET, DWDM (Dense WDM) The term given to wavelength division multiplexing (WDM) when significantly more channels were being added. Since WDM is increasingly more "dense" all the time, both terms are used synonymously. See WDM. DWDM - wavelength division multiplexing , FITL FITL Fiber-In-The-Loop (telecommunications) FITL Flight Increment Training Load , HFC 1. (networking) HFC - Hybrid Fiber Coax. 2. (hardware) HFC - hydrofluorocarbon. , DOCSIS (Data Over Cable Service Interface Specification) A cable modem standard from the CableLabs research consortium (www.cablelabs.com), which provides equipment certification for interoperability. , 802.11b/a/g, VoIP, UNII UNII Unlicensed National Information Infrastructure UNII Undistributed Net Investment Income (closed-end mutual funds) and xDSL. He has knowledge of data network operators' back office systems including OSS/BSS systems and application services for client products such as membership systems and Active Directory, video encoding, content management systems and digital asset management. IMPORTANT INFORMATION REGARDING THIS PRESS RELEASE This document may include certain "forward-looking statements" within the meaning of 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. These statements are based on current expectations and are subject to uncertainty and changes in circumstances. Actual results may differ materially from these expectations due to changes in global political, economic, business, competitive, market and regulatory factors. More detailed information about those factors is contained in NCC's filings with the Securities and Exchange Commission. This announcement is for information purposes ONLY and the recipient, reader should not invest in any SECURITIES of NATIONWIDE CAPITAL CORPORATION based upon the information contained herein IN PART OR IN WHOLE. For further information with regard to this announcement please consult NCCN's Legal, Regulatory and Securities Counsel:
Elias, Matz, Tiernan & Herrick, L.L.P.
734 Fifteenth Street, N.W., 12th Floor
Washington, D.C. 20005
202/347-0300 (Telephone)
202/347-2172 (Facsimile)
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