Data-Vision’s New LoanQuoter® Version
Facilitates Speedy Underwriting Findings Using Fannie Mae’s Desktop Underwriter®

by John Dempsey, Vice President-Sales, Data-Vision, Inc

For Immediate Release
Contact: John Dempsey

Mishawaka, Ind. Oct. 20, 2005 - Data-Vision’s new, 05.10.00 version of LoanQuoter® will provide an interface to Fannie Mae’s Desktop Underwriter (DU®), providing Data-Vision’s lender-clients with the ability to give their borrower-customers timely feedback on loan applications directly online.

LoanQuoter.com is an online origination service offered by Data-Vision to its mortgage lending customers, providing them with brandable Web sites that enable consumers to file online mortgage applications and receive a DU-based approval recommendation at the point of sale. The new LoanQuoter version, which becomes available in early November, makes Data-Vision one of only a few companies offering DU-recommendation based approvals directly to the consumer through the lenders’ Web sites.

“It means a potential increase in loan production for the lender,” said John Dempsey, vice president of sales for Data-Vision. “The quicker commitment from lenders keeps prospective customers from hopping sites and shopping around because of the consumer-direct contact.”

The new LoanQuoter release also makes use of Fannie Mae’s revised 1003 application. Originators selling loans to the government-sponsored enterprise must use the revised application by January 1, 2006.

Additionally, the new LoanQuoter release includes several customer-friendly features:

  • Action log viewing through the LoanQuoter configurator.
  • Greater lender control of drop-down fields on applications.
  • Increased system variables for use with custom forms.
  • Enhanced Broker or Correspondent upload features.

Dempsey noted that “by diligently crafting our system to be flexible with a vast majority of systems, we can offer this broad-based technology to our customers.”

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About Data-Vision, Inc.
Incorporated in 1993, Data-Vision focuses exclusively on the mortgage and banking industries. Data-Vision offers RemoteDocs® .com, a mortgage website service known as LoanQuoter.com® and DisclosureDocs.com™. The company, which won a commendation for its Help Desk operations in the 2004 Mortgage Technology Awards competition, focuses on harnessing the power of the Internet by providing tools that allow efficiency and productivity for the mortgage industry. One of Data-Vision's strengths is the ability to design and implement solutions for the lending industries. Maintenance and hosting fees are paid monthly, rather than on a long-term contract basis for increased flexibility.

For further information visit www.d-vision.com.

For media inquiries contact John Dempsey, Vice President of Sales, Data-Vision, Inc. at 888-925-8625, send a fax to 574-243-8630, e-mail to sales@d-vision.com, or write 520 Park Place Court, Suite 200, Mishawaka, IN 46545.

Desktop Underwriter and DU are registered trademarks of Fannie Mae.