RealEC Technologies and ABC Virtual Sign Network Access and Licensing Agreement

April 23, 2002

ECLoanPro Manages Connectivity Using RealEC Title Services Integration

SANTA ANA, Calif, /PRNewswire/ -- RealEC Technologies(TM), a B2B eCommerce exchange provider for real estate transactions, and ABC Virtual, the developer of ECLoanPro®, have a collaborated on a system that automates the delivery of mortgage loan origination services via the RealEC portal.

ECLoanPro provides its originators with functionality that enables them to order and receive title insurance services via RealEC without exiting their loan origination system. Whether the originator is on-line or working remotely without access to the Internet, once the originator connects to the Internet, all of the pending orders for title services ordered through RealEC connected service providers are automatically processed.

ECLoanPro doesn't require its originators to have a connection to the Internet or to open a Web browser to gain access to the products/services of RealEC connected service providers, although an Internet connection is needed to place the actual order.

"The integration of RealEC title services is consistent with the straight-through-origination strategy designed and implemented by ECLoanPro," said Mary Sudak - Director, Mortgage Technology, ABC Virtual. "The integration of RealEC title services with ECLoanPro is the first step toward integrating additional RealEC services to be added to ECLoanPro in the near future," said Sudak.

RealEC is designed to facilitate the origination, servicing, and closing of real estate transactions and to enable real estate practitioners to significantly enhance their businesses, RealEC provides integrated solutions through the following core components:

The RealEC Exchange is an intelligent routing process that offers traditional transaction capability and provides a standardized connectivity and data transport functionality for originators and vendors involved in the transaction. It handles data translation and facilitates rapid information flow while integrating seamlessly with vendors' production systems.

Source: RealEC Technologies


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