SAN DIEGO, March 29, 2006 - At the National Technology in Mortgage Banking Conference, Byte Software, one of the leading providers of loan origination software (LOS) and Online Documents Inc., a subsidiary of Stewart Mortgage Information (SMI), announced a strategic alliance designed to simplify the closing process for lenders. Originators will be able to use BytePro to seamlessly access Online Express™ Web to draw closing documents quickly and efficiently.
This latest partnership continues Byte's effort to offer its clients an array of service providers to select from, to provide a complete mortgage software solution.
"Our goal has always been to improve the loan origination process for our clients," said Joe Herb, general manager of Byte Software. "Whether that's improving our technology or providing the connection to the third-party providers they want to do business with, we want to make sure that we are helping originators improve the way they do business."
The integration between BytePro and Online Express™ Web allows originators to create closing documents in a matter of minutes and deliver them electronically to the closing agent. This process eliminates the need for the originator to re-key most of the loan information, which trims time, reduces errors and creates workflow efficiencies.
"Lenders can outsource their entire document preparation process to Online and not have to worry about maintaining documents, technology upgrades or a fluctuating staff to meet changing origination demands," said Terry Ward, CMB, vice president of corporate development for Online. "We have a library of more than 50,000 forms and documents and we can create custom forms upon request."
The partnership was a natural progression, Ward said, given the longevity of both companies and their position in the mortgage market. Online Express™ Web offers users 24- hours-a-day/7-days-a-week access to documents via the Web without the worry of upgrades and management.
BytePro's ability to access interfaces through the Internet gives originators flexibility without sacrificing functionality. The system offers the features needed to originate, process and close loans efficiently through an integrated format with workflow management. BytePro gives users a competitive advantage through its access to third-party providers, which improves originators' productivity and operational efficiency.
About Online Documents Inc.
Established in 1988, Online Documents (www.onlinedocuments.com) provides compliant mortgage documents and related services to lenders, nationwide. Online offers web based and desktop installations (Online Express™ Web and Online Express™) for local lenders and more comprehensive enterprise solutions, including MISMO data feeds (Integration Manager™) for regional and national lenders. Online delivers Initial Disclosures and Closing Document packages via the web and to local print destinations within minutes of an order, 24/7. Additionally, Online provides Print and Mail Services for Initial Disclosures from its central processing center and offers unique support to Attorneys who draw documents for lender clients through its advanced Document Review Manager™ technology.
About Stewart Mortgage Information
SMI is a wholly owned subsidiary of Stewart Information Services Corp. (NYSE-STC). SMI is a leading provider of mortgage information and services that accelerate loan origination and reduce costs of post-closing functions. SMI meets the needs of the real estate industries through the delivery of information services required for settlement using e-commerce, including credit valuation products, nationwide title and settlement services, flood determinations, electronic mortgage document preparation, background checks and a variety of post-closing and investor delivery services. For more information, visit http://smi.stewart.com.
Stewart Information Services Corp. is a technology-driven, strategically competitive, real estate information and transaction management company. Stewart provides title insurance and related information services required for settlement by the real estate and mortgage industries through more than 8,500 policy-issuing offices and agencies in the United States and international markets. Stewart also provides post-closing lender services, mortgage default management solutions, automated county clerk land records, property ownership mapping, geographic information systems, property information reports, flood certificates, document preparation, background checks and expertise in tax-deferred exchanges. More information can be found at www.stewart.com.
About Byte Software
Byte Software is a leading provider of loan origination software to brokers, banks and credit unions. The BytePro solution streamlines all the processes used by originators and processors, allowing them to close more loans in less time with fewer mistakes. Byte Software is a wholly owned subsidiary of CBCInnovis, a leading provider of real estate settlement services. To learn more about BytePro and Byte Software, visit www.byte-cbc.com or call 800.695.1008.