IntraPrise Solutions and The Servicing Source Announce Joint Venture

On May 1st, IntraPrise Solutions, Inc. provider of the Merit Matrix loan product information service ("Merit") and The Servicing Source of Fort Lauderdale, FL announced a joint venture to launch a new brand of valuation and pricing products and services. Combining IntraPrise Solutions' loan product and pricing content and software engineering expertise, with The Servicing Source's modeling technology, market knowledge and business expertise, the companies have created a jointly-branded suite of products and services to deliver whole loan and servicing valuation solutions to the mortgage industry.

This new entity, "Level 1", will focus on providing the mortgage lending and servicing industries, along with their creditors, auditors and regulators:

-- Valuations of mortgage loans and servicing rights that are objective,
independent and supportable;

-- Loan Product, Pricing and Valuation Systems that are easy to use, fast,
defensible and transparent. Both ASP and desktop versions of these
models will be made available.

The "Level 1" mission is to bring mortgage asset pricing as close to a true Level 1 valuation under FAS 157 as possible. This means striving for quoted prices of identical assets, in active markets, at the measurement date.

Towards that goal, the two companies are also launching "Level 1 Loans". This revolutionary bulk eligibility and pricing service incorporates the actual prices investors are willing to pay as offered in their daily rate sheets and underwriting criteria as a means of valuing loans for risk assessment, accounting or improved trade execution.

"Level 1 Loans'" database of over 50 buyers of loan products is updated daily and includes all of the adjustments and eligibility rules for each loan product within these rate sheets. The result is a pricing database of thousands of unique loan products. These data can quickly determine the price quoted for any loan by one or many investors. Coupled with high-performing, multi-thread, multi-machine technologies, loan-level product slotting and pricing of even very large portfolios can be accomplished quickly, defensibly, and accurately.

Dr. Thomas J. Healy, CMB, President of the Servicing Source noted that, "This system avoids the subjectivity inherent in the cash flow modeling relied on by most valuation systems. It identifies what the active loan market will pay for an identical asset as of the measurement date. "Level 1 Loans'" validity has been shown for both new and seasoned loans."

Jeff Fisher, President of IntraPrise Solutions agreed, saying, "This system is made possible by the marriage of our staff and strategic partners, which maintain the product and pricing information, with our technology that allows for the capture of investor prices, the slotting of loan products against those prices, and the execution and delivery of valuation runs." -http://www.prnewswire.com