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Sollen Technologies Adds 100th Customer; Pricing Technology Allows Lender to Better Compete.

SAN DIEGO -- Sollen Technologies, an Internet-based application services provider of product, pricing and best execution capabilities for the mortgage industry, announced that they have recently signed their 100th customer. Among those companies now employing Sollen's technology are: The Washington Savings Bank, Bowie, Md., VIP Mortgage, Danvers, Mass., and Home State Bank, Crystal Lake, Ill.

"We compared Sollen with numerous other technology providers," said Eugene Sittinger, residential lending officer, Home State Bank. "One of the things that caught our attention was that the competitors compared their product against Sollen's. They were trying to convince us that they were better than Sollen. This showed us that Sollen is the benchmark for pricing technology."

Most of the new companies that have signed on will be using Sollen's LenderOnline pricing engines and all hope to achieve better efficiencies for the lending officers. "It will definitely increase our loan officer's time management ability," said Greg Dechenes, president and CEO of VIP Mortgage. "Our loan officers won't be looking at 45 different rate sheets and 45 different program guides, consolidating it all into one."

"We hope to get the best rates to our lenders, and loan officers to take a lot of stress off our backs," said Sherry Cavanaugh, wholesale assistant, The Washington Savings Bank.

LenderOnLine is a Web-based solution enabling online loan search, product validation, pricing, registration, locking, loan status reporting and pipeline management for wholesale, retail, correspondent or call center applications. The program allows the originator to capture multiple lending options in one execution, searching loan types, loan products and documentation at the same time to find the optimal match for the borrower.

"We know that financial institutions and mortgage lenders are always seeking efficiencies that will allow them to spend more time focusing on the needs of their customers, and the Sollen suite of products permits them to do just that," said Michel Van Hee, CEO of Sollen. "We welcome this new group of customers and we expect to add many more over the coming years as more companies become aware of how our solutions allow them to effectively conduct their business and compete within the volatile lending business."

About Sollen Technologies

Headquartered in Dallas, Sollen Technologies is an Internet-based application services provider of product, pricing and best execution capabilities for the mortgage industry. Sollen Technologies' vision is to provide comprehensive products and services that bring measurable value to the retail, wholesale, and correspondent channels. The company's innovative technology helps to enhance the relationship between originators and lenders enabling both to effectively compete in today's marketplace. For additional information about Sollen Technologies, visit the company's Web site at www.sollen.com.
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Publication:Business Wire
Geographic Code:1USA
Date:Mar 29, 2006
Words:438
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