Remend OnDemand Summer 2007 Release Addresses Today's Mortgage Servicing Costs and Complexity.

Summer 2007 Release Offers New Functionality for Managing Expenses, Improving Decision-Making on Properties in Default, and Increasing Efficiency

LAS VEGAS -- Remend Inc., the first in on-demand mortgage servicing solutions, today announced the availability of Remend OnDemand[TM] Summer 2007. The newest release of the Remend OnDemand suite is being unveiled at the California Mortgage Banker's Association 12th Annual Western States Loan Servicing Conference being held August 5-7, 2007 in Las Vegas, N.V. Remend OnDemand Summer 2007 adds significant new functionality designed to address the costs and complexity of managing default properties in today's highly volatile market:

* New Remend OnDemand Expense Management is integrated with REO processes to eliminate the overhead of multiple systems, processing costs, and redundant work for managing invoices and expenses. This new application provides the industry's most detailed analysis of REO-related costs - saving servicers and vendors time and money.

* New Investor-Specific Guidelines for each source of funds are maintained by the Remend OnDemand system and execute as part of the REO processes to enable timely and accurate financial decisions in managing REO properties.

* Enhanced Remend OnDemand Property Valuation enables a new level of decision-making through the mapping of subject properties to third-party data on sales and marketing trends, as well as management of image galleries featuring subject properties and comparable offerings.

* Enhanced Remend OnDemand REO Reporting provides real-time dashboards for insight into the status of each REO at any time throughout the process.

* New Remend OnDemand Document Management links documents to processes online to reduce document handling time and costs.

"The complexity of financial decisions and operational actions related to managing default properties has outgrown the existing systems and manual processes in the wake of a proliferation of new loan types and investors flooding the mortgage industry," said Don Morrison, Remend CEO. "Remend OnDemand Summer 2007 provides the platform to take the complexity out of handling the surge in delinquent mortgages, broad range of loan types, and multiple investor guidelines. At the same time, automation reduces the cost of servicing and allows servicers to scale internal operations and effectively work with outsourcers and vendors performing services."

Remend OnDemand Summer 2007 is the newest release of Remend OnDemand, the first on-demand mortgage servicing solution for default management to embrace the complexity of today's lenders and investors, providing customers with ease of customer use, speed of configuration, and deployment through a Web browser. Because there is no software to install, the Remend Software-as-a-Service (SaaS) solution can be deployed in a fraction of the time and cost of existing systems and internal development efforts.

Remend OnDemand Expense Management

The new Remend OnDemand Expense Management application is integrated with Remend OnDemand REO to help mortgage servicers and vendors streamline invoice and expense handling, approvals, and reconciliation. Using it provides unprecedented functionality and control for reducing invoice processing costs, improving REO and asset cost management, and minimizing processing time for both servicers and vendors.

Invoice tracking lets asset managers create multiple invoices by department and type, and have them associated to specific REO properties and work orders. Meanwhile, with expense tracking, asset managers can create multiple expenses for each invoice and each type of work, as well as track the requested, approved and paid amounts for each expense. It also lets vendors upload with each invoice key expense documents, such as repair bids, vendor billings, copies of checks, and photos documenting the work.

Through the invoice and expense approval process, servicers and vendors can submit invoices online for approval and view the approved amounts, along with the amount paid and payment dates. In support of the approval process, the system incorporates investor parameters for allowable expenses. Additionally, final due dates/expense closeout features allow servicers to set notifications advising vendors of final due dates for invoices and expenses for each REO or asset being managed.

Detailed expense reporting gives servicers and vendors a quick way to check invoice/expense status and track outstanding unpaid bills. Users can track expenses by REO and by vendor, drilling down for precise analysis, for example: total expenses by order type, REO total expenses by invoice (detailed or top-level), total expenses by vendor type, and vendor total expenses by invoice. It improves overall accuracy, helps vendors to avoid missed or un-reimbursed expenses, and allows servicers to more effectively manage costs - closing out sold REOs faster and with less work.

Investor-Specific Guidelines

Remend OnDemand maintains and executes Investor-Specific Guidelines reflecting the financial guidelines for each source of funds that are needed to make decisions during the REO process. A powerful decisioning engine executes the specific investor guidelines associated with a particular loan based on the funding source to enable timely and accurate financial decisions in managing REO properties. This capability allows servicers to instantly have available the individual Investor Guidelines contained in their investor Pooling and Servicing Agreements (PSA), eliminating inefficiencies and cycle time.

Remend OnDemand Property Valuation Enhancements

With the Summer 2007 release, Remend OnDemand brings a new level of real-time market insight to help servicers seeking the best way to recoup their investments in default properties, whether through auction, REO, or conversion to a rental property. Mapping functionality automatically maps the servicer's subject property to comparable properties via Google Maps along with other third-party sales and market data, giving the servicer pinpoint accuracy on the estimated selling price, time on the market, and required investments to compare favorably with similar homes on the market. Servicers can further analyze these factors in concert with investor conditions to determine the best course of action for maximizing the servicer's and investor's stake in any given default property.

Also facilitating valuation are new image management capabilities that allow servicers and vendors to upload photos of a subject property and similar properties into an "Image Gallery". Users can view all the uploaded photos to analyze how the subject homes compare with others on the market, as well as select which images they want to present for review.

Remend OnDemand REO Reporting Enhancements

Real-time dashboards in Remend OnDemand Summer 2007 provide visibility throughout an REO process, whether it is currently active or closed. Servicers can view summary information from the date that an REO is assigned to the department (DAR) or that it is placed on the market (DOM). While the REO is active, users can open each work order to make updates. An REO that has been sold or is inactive can be viewed in "read only" mode, protecting historical data. With the enhanced REO reporting, servicers improve the ability to track key processes and tasks to reduce REO handling time and employee costs per REO. By comparing closed REOs, servicers can conduct comparative analyses of the factors contributing to the relative successes of the REO resolutions.

Remend OnDemand Document Management

The new processed-based document management functionality lets user load any kind of document or picture into any process in Remend OnDemand. Documents can be attached to work orders or cases. They also can be viewed at the case summary level within Remend's document repository. By attaching documents to processes, Remend OnDemand speeds the process of document review and makes it far more efficient to manage and track documents electronically. As a result, servicers and vendors can cut their employee costs per REO in addition to reducing the communications expenses related to faxes and emails.

About Remend

Remend provides innovative mortgage solutions to improve the performance of loans and the experience of borrowers and people servicing loans. Today, we provide default solutions that integrate borrowers, servicers, lenders, realtors, and investors into a common workspace to reduce default cost and loss across the loan lifecycle.

We offer a new approach to delinquency and default management that combines the servicing processes and data analysis with retention and prevention scenarios to measure and improve performance. Remend provides the first Web workspace integrating the people, processes, and asset information to manage default loans. We connect the people and processes into a single electronic service network to improve loan performance, compliance and quality, and reduce operating costs. Visit www.remend.com to learn more.