No-cost, real-time HMDA management and reporting most recent service deployed
 

March 9, 2003
For Immediate Release

Orlando, FL – From the annual Mortgage Banking Association's National Technology Conference and Exposition, a la mode, inc. today announced a set of enabling technologies, based on Microsoft's™ .NET platform which will allow Mortgage Industry software developers to connect to a la mode's various Web services. Using Simple Object Access Protocols (SOAP) an industry-standard XML-based set of protocols, any company can rapidly and easily connect their existing management systems to a la mode's Mercury Network and access Web services for appraisal ordering, status, and delivery, as well as the Mercury Network's newest Web service, a no-cost, real-time HMDA (Home Mortgage Disclosure Act) management and reporting service.

Since SOAP is a lightweight protocol for exchange of information in a decentralized, distributed environment, a simple, consistent connection can be made to a la mode's Mercury Network servers, regardless of the operating system platform on which the connecting server resides. Currently, the Mortgage Industry has a variety of different applications and platforms that are used daily. But, those technologies don't work seamlessly with one another, and they require users to adapt to each technology rather than having the technology adapt to them or work together on the user's behalf. SOAP and XML-based Web services provided by a la mode's Mercury Network are rapidly changing this well-documented and industry-wide lack of interoperability.

The most recent example of a la mode's Web services offering is its HMDA management and reporting service. Enacted by Congress in 1975, HMDA is designed to protect minority groups from lending discrimination and requires lending institutions to report public loan data. Traditionally, mortgage lenders spend valuable resources either buying or building HMDA reporting tools. HMDA reports are usually assembled manually on an annual basis. Using a la mode's new HMDA management and reporting Web services, lender-members of the Mercury Network gather HMDA data and produce required reports in real-time as they go about the normal daily tasks of ordering property appraisal reports.

David Biggers, CEO of a la mode said, "Considering the fact that the law provides any citizen the right to walk into any branch of any lender and demand their HMDA report on the spot, it is difficult for lenders to properly comply without real-time HMDA data reporting. Members of the Mercury Network are able to provide this important reporting function - at no cost to the lender."

For quite some time, mortgage lenders using a la mode's Mercury Network Web services have been able to find EDI-enabled appraisers in US counties in which their coverage might be lacking. Lenders have also used a la mode's Web services to place appraisal orders on and outside the Mercury Network, post and retrieve order status information, send e-mail, fax, and pager notices using the Mercury Network's servers, as well as utilize the Mercury Network's geocoding and mapping servers - all without having to adopt the Mercury Network's interface.

Gary Carter, a la mode's Chief Technology Officer commented, "In much the same way that 'reusable components' revolutionized the way programmers code in Windows, as opposed to DOS, Web services are revolutionizing how programmers work today by shaving months off of the time needed to build large systems in the mortgage industry."

Carter went on to say, "If a programmer can write a few lines of code to access our Mercury Network servers to place orders, maintain a database of staff appraisers, track status and turn times, all the while automating the HMDA data gathering and reporting function, there is no reason for a mortgage lender to spend hundreds of thousands of dollars building a system on their own. We have learned when mortgage lenders learn about our Web services and utilize them properly, they save a lot of time and money. Some of the largest institutions in the real estate world are tapping into the Mercury Network to use our Web services and they are amazed at what we are able to do for them."

About a la mode, inc.
a la mode, inc. is the leader in the design, development and support of real estate related software, Internet solutions and electronic document technologies. The company's flagship product, WinTOTAL, is used by over 50 percent of the nation's appraisers, nearly three times the share of its closest competitor. a la mode's Mercury Network http://mercury.alamode.com servers delivered over 8.8 million electronic appraisals in the past 12 months, making it the undisputed leader in paperless real estate transactions.

More information on the company can be found on the Web at http://www.alamode.com


.