Nation's Leading Financial Institutions Choose MindBox

Hitting the market in full stride only a month after its spin-off from Brightware, MindBox Inc, a worldwide leader in providing artificial intelligence applications to automate complex business and operations processes for the financial services industry, announced an impressive client roster consisting of many of the top lenders and financial institutions in the country.

Customers include industry leaders such as Countrywide Home Loans, Fannie Mae, Freddie Mac, HomeSide Lending, Mortgage.com, GE Capital Corporation, and Upland Mortgage. MindBox expects to add to this list in the coming months, resulting in revenues forecasted to exceed $20 million in its first fiscal year.

Utilizing MindBox's artificial intelligence applications, lenders are able to automate and streamline complex business and operations processes within the areas of mortgage lending origination and underwriting, insurance underwriting, sales assistance, credit grading, compliance verification, terms of business, portfolio management, personalized pricing, deal structuring, cross-selling and best execution. For example, Freddie Mac used MindBox technology to streamline an automated form for its mortgage servicers. All of these systems are built using the expertise of MindBox's award-winning consultants and its innovative ART-Enterprise, a market leading artificial intelligence development platform that has proven itself in over 200 customer deployments.

"The fact that we have reached such a critical mass of customers is a testament to the tremendous benefits that we deliver to financial services companies using our technology," said Richard Barfus, CEO of MindBox. "No other company can match the depth of expertise that we have in artificial intelligence and its application in financial services. We know how to improve customer satisfaction while at the same time decreasing the cost of business operations."

"We've reduced the cost of processing a loan from $1,400 to $900," explains Dan Scheuble, Chief Information Officer of HomeSide Lending. "In reducing our costs by 35 percent on each loan, we've increased our mortgage origination volume and kept our prices low."

MindBox in Financial Services

• Countrywide Home Loans: Countrywide Credit Industries Inc, provides consumer and business-to-business financial services in domestic and international markets.
• Fannie Mae: Fannie Mae is the country's third largest corporation, in terms of assets, and the nation's largest provider of funds for home mortgages.
• Freddie Mac: Freddie Mac is a stockholder-owned corporation chartered by Congress to increase the supply of funds that mortgage lenders can make available to homebuyers and multifamily investors.
• HomeSide Lending: HomeSide Lending is one of the largest full-service residential mortgage banking companies in the United States. Headquartered in Jacksonville, Florida, HomeSide services over $145 billion in home loans representing over 1.6 million homeowners.
• Mortgage.com: Mortgage.com is a pioneer in online mortgage banking, dedicated to reducing to reducing the cost of mortgage origination and funding by supplying financial institutions, realtors and homebuilders with point-of-sale and Internet technology, business management, loan processing, call center and mortgage funding capabilities.
• GE Capital Corporation: GE Capital offers a wide range of value-added financial products and services through a network of 28 specialized businesses in five core niches: Equipment Management, Customer Services, Specialized Financing, Mid-Market Financing and Specialty Insurance.
• Upland Mortgage: Upland Mortgage is a retail mortgage lender offering the most flexible and convenient loan programs available in the market today.

About MindBox Inc

Based in Greenbrae, California, MindBox Inc is a worldwide leader in providing artificial intelligence applications to automate complex business and operations processes for the financial services industry. The company develops and markets innovative software and consulting solutions that leverage industry and internal best practices to deliver multi-channel, intelligent solutions designed to optimize client interactions. For more information, please visit MindBox's Web site at www.mindbox.com or call 877-650-MIND (6463).

For a current list and more details on customers and partners, please visit the MindBox Web site at www.mindbox.com/clientlist/index.shtml.