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04.22.2010

Xplair Technology Announces Addition of New Module to iMS Residential Loan Portfolio Management Platform

Loss Mitigation Midsourcing Module Helps Ensure Compliance with Reporting Requirements of Government Sponsored Entity Programs, Including HAMP and HAFA

Thursday, Apr 22, 2010

San Diego, California, April 22, 2010 – Xplair Technology, LLC (“Xplair”), a provider of innovative portfolio management software, hardware services and support, today announced the addition of a Loss Mitigation Midsourcing module to its illumair Management System (“iMS”), a web-based residential portfolio management platform designed to directly link service providers and investors with REO providers, servicers, and other loss mitigation agents through secure, on-line access to proprietary loan and REO asset data. The new Loss Mitigation Midsourcing module was designed to meet reporting requirements for Government Sponsored Entity (“GSE”) programs, including HAMP, HAFA and Deed-for-Lease. The iMS platform aggregates critical asset-level characteristics that are delivered in a robust user interface with a full system of comparative analytics, risk metrics and interactive charting that also enables dialogue between all users to better meet objectives and make decisions with real-time portfolio and industry data.

With the new module, servicers and component servicers may access and manipulate data as needed to deliver reports that meet the Department of Treasury reporting guidelines. Built-in GSE-compliant timelines create indicators and exception reports as relevant timelines approach and allow users to act accordingly, allowing users the ability to streamline processes and reduce turnaround times significantly. By encompassing multiple resolution and disposition strategies into one dynamic interface, iMS clients have a transparent view into their assets at any stage of the loss mitigation process, interact with their agents and agencies in a secure environment, and utilize the platform as an upstream system.

“The addition of the Loss Mitigation Midsourcing module makes our platform even more robust,” commented Jill Parker, Managing Director of Xplair. “Our mission has always been to accommodate our clients’ needs with technological solutions to help streamline their operations and accomplish their business objectives. Creating cohesiveness between the servicer, borrower and outside third parties – specifically agents, brokers and investors – was a main priority. We also wanted to ensure all levels of loss mitigation were covered, as well as any upcoming GSE programs we can expect to see in the next two years.”

“Ms. Parker continued, “The iMS’ user base has grown by 70% since the 4th quarter of 2009 and asset volume has doubled, and we are confident that the addition of this new module will be an attractive technology solution for HAMP-certified servicers and component servicers.”

Richard Cimino, Chief Executive Officer of iServe Servicing, Inc., and an Xplair customer said, “Having recently received certification to participate in HAMP, we believe that iMS’ Midsourcing module will be a distinct advantage as timelines built into the module are compliant with those of the Government programs which ensures a cohesiveness between the servicer, the borrower and outside third parties such as agents and brokers. Having an active, 24/7 iMS platform that shows timelines are approaching or have been exceeded allows our team to act quickly to ensure our client’s needs are being met and that all transactions and the associated reports are within the guidelines of each of the U.S. Government programs.”

Matt Varnum, Director of Component Servicing for iServe Servicing Inc, said, “We have found that our clients have been extremely pleased with the reporting and functionality of the iMS System. The iMS system makes customized reporting extremely easy to create and allows us the opportunity to provide our clients with the information they need without development delays. The tasking capabilities found within iMS allow my staff to communicate with our clients regarding workout and disposition transactions quickly and seamlessly.”

As previously announced, xplair has also created an alliance with real-time real estate data provider, Altos Research, to provide in-depth property listing monitoring at the zip code, county, MSA (Metropolitan Statistical Area) and state level to provide clients and investors the most up-to-date data on current listing market trends. The real estate market analytics available in iMS through the Altos Research partnership now provide over 4.5 years of historical industry data; a valuable built-in research tool for investors and service providers when determining the disposition strategy of an asset, or an entire portfolio.

MBA’s National Technology in Mortgage Banking Conference & Expo 2010

Xplair also reported today that they will be participating in MBA’s National Technology in Mortgage Banking Conference & Expo 2010 at the Hyatt Regency Chicago on April 25-28th. The company will be providing demonstrations of the iMS System at booth #215.

About Xplair Technology, LLC

Founded in April 2009, Xplair Technology, LLC provides innovative portfolio management software, hardware services and support to a wide range of clients in the financial, capital markets, mortgage and REO space. For more information, please visit, www.xplair.com.

About the illumair Management System

iMS is a public, web-based residential mortgage portfolio management platform designed to directly link financial institutions and investors with servicers through secure, on-line access to proprietary loan and REO asset data, aggregating critical asset-level characteristics that are delivered in a robust user interface with a full system of comparative analytics, risk metrics and interactive charting that also enables dialogue between all users.

iMS provides a customizable “dashboard view” of up-to-date portfolio information and provides users with the tools to quickly and efficiently drive a broad or granular portfolio strategy. The system maps over 300 asset-level characteristics from multiple servicers and REO providers, allowing residential REO, mortgage investors and other stakeholders to view their assets (loans and REO) as a single portfolio irrespective of who services the assets. Asset-level data is then aggregated along relevant performance metrics and trend analytics to help investors and other stakeholders evaluate mortgage and servicer performance and risk. A flash demo of iMS may be viewed on-line at www.xplair.com.

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xplair Contact:

(858) 486-1914

Media Contacts:

Sard Verbinnen & Co.
Dan Gagnier / Renée Soto
(212) 687-8080
Xplair Technology, Inc.