COMPANY PRESS RELEASE
Myers Internet, Inc. Partners With Cipher Data Resources Tax analysis software now available on Myers' Originator Network
SAN JOSE, Calif.(BUSINESS WIRE)Nov. 28, 2000 Myers Internet, Inc., a leading provider of Internet infrastructure to the mortgage industry, announced today that it has partnered with Cipher Data Resources, Inc. (CDR), a Calif.-based mortgage software company, to provide CDR's Cipher1 tax analysis software program through Myers' Originator Network.
Under this marketing partnership, Cipher1 becomes the first tax analysis program to be offered by Myers to its Originator Network customers. Cipher1 will enable Myers' customers to flag potential mathematical inconsistencies and compensating factors involved in the origination process. Cipher1 is designed to streamline the tax analysis process through an "intuitive" interface that guides users through complicated sets of returns. In addition, the program, which will be available directly via a CDR link on the Myers Web site, can deliver to users a complete set of reports printed to a standard format.
Originator Network offers a single interface to more than 1,600 mortgage companies comprised of more than 10,000 originators that currently use Myers' Web-hosting and lead-generation services. Using Originator Network, mortgage originators are able to streamline their loan approval and submission processes by ordering credit reports, appraisal, title and other related services online. Originators are also able to search wholesale rates from more than 50 leading wholesale lenders to find the best loan for their customers.
"This marketing partnership is an important one for our clients because it will enable them to offer a higher level of service to borrowers who have complex tax returns, which is consistent with our goal to streamline the mortgage process and reduce costs to end consumers," said Warren H. Myer, CEO of Myers Internet, Inc..
About Cipher Data ResourcesCipher Data Resources, Inc. was incorporated in 1996 in the state of California to develop, market, and support computer software that performs income tax analysis, primarily for the lending and leasing industries. The company's initial product, Cipher1 targets the residential lending industry and is a copyrighted, prepackaged software designed to analyze, or 'decipher', a potential borrower's personal and business income tax returns and to calculate a borrower's cash flow. For additional information about Cipher Data Resources, Inc. and Cipher1, visit the company's Web site at www.cipherdata.com, or call 1 800 291 0655. (For press inquiries contact, Michelle Jordan: (949)475-6980; e-mail: jordanllc@earthlink.net.)
About Myers Internet, Inc.Myers Internet, Inc. is the leading provider of Internet infrastructure to the mortgage industry. Myers' solutions allow for a completely electronic transaction, connecting consumers with originators and originators with lenders and service providers. Using Myers' Webwiz technology, an originator can build a state-of-the-art customized Web site in minutes. Myers Originator Network enables originators to shop rates, process loans and connect to lenders electronically, resulting in faster turnaround and reduced processing costs. Myers electronic community comprises of 1,600 brokerage companies with more than 10,000 originators. Its premier Web sites, OriginatorNetwork.com, BestRate.com and LoanApp.com are some of the best-known mortgage-related sites. For more information visit www.myersi.com or call (408) 428-9960.
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