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Business Services Industry

Wells Fargo Implements Guardian Mortgage Documents' NGIS Private Label Technology to Enhance Correspondent Website

Business Wire, Sept 2, 2003

Business Editors

LAKEWOOD, Colo.--(BUSINESS WIRE)--Sept. 2, 2003

Phase two of partnership streamlines workflow and adds functionality

to Lender's Alliance website at request of correspondent network

Wells Fargo Home Equity (WFHE), part of the leading home equity lender in the United States, has implemented phase two of its partnership with Guardian Mortgage Documents (GMD), further enhancing document production services to its correspondent lenders through its Lender's Alliance website (www.lendersalliance.com). Phase Two includes private labeling of GMD's Next Generation Input System(TM) (NGIS)(TM) technology on the Lender's Alliance site and launched on July 18, 2003. Phase One launched in March 2003.

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GMD's NGIS private label technology further streamlines Wells Fargo correspondents' abilities to create, view and electronically deliver closed-end second and line of credit (HELOC) documents that conform specifically to WFHE product guidelines via the Internet. As part of normal workflow, the new technology allows correspondents to access and produce documents via Lender's Alliance with greater speed, efficiency and within the same familiar navigational environment.

According to WFHE and GMD officials, response to implementation of Phase One from correspondents included requests that conventional mortgage products be made available via NGIS. As a result, correspondents now have access through GMD to conventional mortgages and other tools and services, including Document Reporting, Document Management, Document Upload, and Web-based File Import. These services have been fully endorsed by Wells Fargo.

"With our phase two rollout of Guardian Mortgage Documents' NGIS private label technology, Lender's Alliance further improves a correspondent's experience by extending a familiar and more user friendly operating environment. The visual continuity alone provides significant value in streamlining workflow," said Catherine Peirson, Senior Vice President, Correspondent Home Equity Business Manager for WFHE. "While this new addition has the Lender's Alliance look and feel, the NGIS functionality that alleviates potential challenges before they occur remains, reflecting our ongoing commitment to provide high quality service to our valued correspondent lender network."

"This addition to Lenders Alliance is a natural and valuable progression of our original partnership with GMD to provide our correspondent lenders with a tool kit for limiting risks associated with non-compliance," said Bruce Brenkus, Vice President of Correspondent Sales and Marketing, Wells Fargo Home Equity. "In phase one, GMD developed and provided correspondents with web-based production of state-specific documents for both lines of credit and loans. The overall response to NGIS's ease of use has been so positive that correspondents have requested that conventional products be made available via NGIS. Consequently, correspondents may now call GMD to add first mortgages production capabilities."

Lender's Alliance electronic document delivery options, including both web and e-mail, eliminate costs and delays associated with fax or overnight delivery of closing documents. After submitting loan files, lenders can expect completed closing documents to be returned, on average, in less than 60 seconds.

"Lenders today receive e-commerce metrics that provide instant feedback in evaluating a business model's overall value. For the most part, the challenge is not deciding what to do next, but rather how to quickly act on the changes required to capture the opportunity adding services," said Michael O'Leary, President of Guardian Mortgage Documents. "Wells Fargo is committed to adding tools and technology to support its correspondent network and has shown nimbleness in its ability to respond to business and technological opportunities. The speed in which it responded to correspondents' requests that first mortgage documents be made available via our web-based NGIS technology is a reflection of this commitment. Upon receiving market feedback, the decision and action was immediate."

"During the first two weeks of our private label introduction, the site has posted an increase in document production by more then 150%," said Tim Anschutz, Vice President of Marketing for Guardian Mortgage Documents. "As indicated by these results, our private label partnership is providing WFHE correspondents with significant value. A significant part of this success can be attributed to WFHE's commitment in executing a co-branded marketing campaign to fully communicate the functional benefits of this new document technology."

Web-based home equity document production is available through the Lenders Alliance website (www.lendersalliance.com) as part of normal workflow. WFHE works with more than 400 correspondent lenders in all 50 states and will purchase approximately $3-4 billion in home equity lines of credit and loans in 2003 alone.

Business Services Industry

Wells Fargo Implements Guardian Mortgage Documents' NGIS Private Label Technology to Enhance Correspondent Website

Business Wire, Sept 2, 2003

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