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QuestSoft Press Archive

Eastern Software Corporation First to Market with Instant Geocoder

LAGUNA HILLS, Calif. -- Sept. 10, 2001 -- QuestSoft is pleased to announce that Eastern Software Corporation has embarked on a five-year agreement to provide compliance-quality census tract information – geocodes – from within Eastern’s “Empower!™ ” loan origination software. Eastern is the first loan origination software developer with full Instant Geocoder™ integration. The functionality is available with Eastern’s “Empower!” software release 24 or higher.

QuestSoft is confident that the Eastern agreement would not only benefit current Empower! customers but also prospects that have an annual Home Mortgage Disclosure Act (HMDA) or Community Reinvestment Act (CRA) reporting requirement.

“There is nothing as powerful as Instant Geocoder on the market. Eastern Software is at the forefront of companies realizing the value of Instant Geocoder to their sales efforts,” said QuestSoft President Leonard Ryan.

“Our customers typically reduce their compliance time and costs by 90%. Eastern’s integration is just more evidence of their pioneering commitment to make their customers the most efficient in the industry.”

Eastern Software Corporation’s Chief Technology Officer, David Spies, agreed with this assessment by noting, “With Empower!, our customers have realized huge efficiency gains in the mortgage process. Integrating Instant Geocoder into Empower! just seemed a natural fit in our continuing effort to automate every phase of the process.”

Instant Geocoder is designed to work within a loan origination system, making year-end compliance with HMDA, CRA or Fair Lending easier, faster and less expensive by assigning codes at the beginning of the lending process.

Ryan, citing the music industry’s Dolby™ brand as a similar example of one technology aiding another, explained Instant Geocoder’s unique contribution to products like Empower!.

Ryan notes, “Just as the addition of ‘Dolby’ sound became a standard feature in motion pictures, we feel that reasonable price, high accuracy and ease-of-use will make Instant Geocoder a standard feature in loan software solutions within the next few years.”

About Instant GeocoderI
Instant Geocoder populates applications with accurate census tract information by push-button. It is the only product available on the market that offers an API interface for use within any application software program. Through a focus on efficiency, the application only takes 10% of the disk and memory resources of competitors, to supply similar results. The databases supplied contain information from over 31,000,000 street segments and are updated quarterly by QuestSoft.

About QuestSoft
QuestSoft, based in Laguna Hills, California, is a software development firm with more than thirteen years of experience in the design of software for the mortgage industry and another seven years of direct origination, funding, and mortgage banking experience.

QuestSoft’s products include mortgage compliance and geocoding software and services. More than 600 institutions use QuestSoft products, including fifteen of America’s top fifty sub-prime lenders.

QuestSoft’s HMDA RELIEF software currently handles almost 30% of the total HMDA transactions submitted annually to HUD. QuestSoft has established relationships (included data-import interfaces) with more than 30 software developers nationwide.

For more information about QuestSoft and its products, contact Leonard Ryan at 949-837-9506.

About Eastern Software Corporation
Founded in 1983, Eastern Software Corporation is a privately held, Sharon, Pa.-based provider of enterprise-wide loan origination systems. The company's flagship product, Empower!, provides users sophisticated tools to compete in today’s rapidly evolving market. Built from the ground up as a 32-bit, N-tier client/server application, Empower! offers lenders open architecture with comprehensive design tools, multiple database connectivity, and thin-client technology. The system also offers a multidimensional workflow design engine, an artificial intelligence (AI) engine, and is Internet enabled.

Empower! is used by many of the nation's 200 largest lenders including Ameriques, CitiMortgage sub-prime operations, Downey Savings & Loan, E-Loan and IndyMac Bank. For more information about Eastern Software, visit the company's Web site at www.easternsoftware.com or call 1-800-441-0830.

QuestSoft, Instant Geocoder, Eastern Software Corporation and Empower! are all registered trademarks. All other companies named are trademarks of their respective owners.