PCLender.com Simplifies Compliance and Security Issues for Lenders

December 4, 2006, Honolulu, HI - PCLender.com Inc., a leading provider of enterprise software and services for the mortgage banking industry, announces it is simplifying compliance and security concerns for lenders. As scrutiny by regulators and secondary marketing investors continues to increase in the mortgage industry, the company is the first to provide mortgage professionals with a secure system of software and table management that manages and secures data so that they remain compliant with regulations, while remaining one of the easiest and most affordable solutions available.

"Our goal is to help lenders manage the complexity of the industry as an integrated solution. With this process compliance is much faster and easier to implement. With so many moving parts in the areas of compliance and security, and regulations continuously increasing, originators can find themselves spending more time on regulatory concerns and less on closing loans," said Lionel Urban, President of PCLender.com. "Our holistic approach allows us to assist with the maintenance of their LOS thereby simplifying the process of compliance for much lower costs. As a result, we not only eliminate the need for lenders to buy additional technology hardware and service, but we also help them improve productivity."

Many of PCLender's customers are banks, already under increased scrutiny from regulators. PCLender's data centers are SAS-70 compliant, bringing additional comfort to lenders concerned with their data security and compliance risks.

Some of the compliance and security issues that PCLender manages include:

* State licensing tracking for employees and vendors
* Product eligibility with links to the lenders pricing
* Documenting applicant communication and issuance of disclosures
* Initial state disclosures
* ECOA (Equal Credit Opportunity Act)
* HMDA (Home Loan and Mortgage Disclosure Act)
* TILA (Truth in Lending Act)
* FHA (Fair Housing Act)
* HOEPA Section 32 loans (Home Ownership and Equity Protection Act)
* Gramm-Leach Bliley (Data Privacy Act

Additionally, one of the greatest risks for data loss involves the storage of consumer information on laptop computers or remote work stations. A host of news stories in recent months have illustrated the danger of this practice, due to the ease with which laptops can be stolen or many security systems can be breached. PCLender eliminates these concerns and protects the privacy of customer data for lenders by providing the following:

* Data is stored in PCLender's SAS-70 approved data center secured by biometric access and high speed servers which reside behind multiple firewalls and are monitored 24 hours a day, seven days a week

* Customer data is segregated in exclusive databases that segregates the lenders data while providing maximum system configuration options

* PCLender manages the data and provides exclusive summary reports to lenders that analyzes appropriate system use and identifies multiple compliance related issues

* Centralized password management is implemented for two way credit, AUS, Flood, and document interfaces. Password management for individual users or the lenders branches increases security as well as simplifies accounting practices

* Upgrades, patches, and PCLender's supported tables are applied automatically to all lenders' databases at no additional cost

"Regulations are increasing, and so is the risk of data theft. The truth is, if lenders are non-compliant it can mean fines, lawsuits or even jail time," stated Urban. "Already, 34 states have passed legislation that requires lenders to notify consumers if a breach occurs and personal data is compromised. At PCLender, our customers do not worry about data security risks and have more time to focus on building revenue."