
<b>Thursday September 30, 12:36 pm <small>Eastern Time</small></b><h3>Company Press Release</h3><i>SOURCE:
Arc Systems</i><h2>ARC Systems Adds Option One, Plus Two Additional Mortgage Corporations To Burgeoning Client List</h2><h3>Mortgage Giant Option One Joined by LoanCity.Com and SolunaFirst as Latest Online Lenders to Engage LendTech 2000</h3><!--prnews|938720160>
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<p>AUSTIN, Texas, Sept. 30 /PRNewswire/ -- ARC Systems, the sole provider of
sophisticated online automated rules-based underwriting, today announced that
Option One, LoanCity.com and SolunaFirst have all signed software service
agreements for LendTech 2000 (LT2k(TM)), an innovative product that allows
high-speed, Internet-based, automated application approval.
Option One is one
of the largest members of ARC Systems' fast-growing client list.<p>``ARC Systems is one of the only companies offering automated underwriting
capabilities for sub-prime loans,'' said Roger Rizner, senior vice
president/lending operations for Option One.
``Their superior service packages
have enabled us to explore the opportunities of new technology without
expending a large capital commitment.''
A wholly owned subsidiary of H&amp;R
Block, Option One Mortgage Corporation is an industry leader providing premier
sub-prime mortgage lending and servicing.
For their last fiscal year ending
April 30, 1999, Option One originated $3.6 billion in sub-prime loan volume.<p>``ARC Systems just took another huge step forward,'' said Ed Jones, ARC's
founder and CEO.
``We know lenders are looking for an Internet solution to
automate the underwriting process, and we can provide that.
Adding Option
One, LoanCity.com and SolunaFirst makes 12 new clients in the past six months
-- truly a testament to the reliability, efficiency and cost-effectiveness of
our product.''<p>LT2k can analyze 10,000 credit reports and make 5,000 underwriting
decisions an hour.
A submitted application is electronically processed using
a lender's underwriting criteria and LT2k's rules-based decision making
system.
Credit reports are accessed for real-time information.
The result:
LT2k returns an underwriting decision in less than 30 seconds.<p>``ARC Systems' LT2k is a superior product like no other in the
marketplace,'' said Peter Knap, CEO of SolunaFirst.
``Because of ARC, my
business plan has changed to allow the growth of SolunaFirst, as well as give
me the opportunity to establish a new market for sub-prime lending.'' Atlanta-
based SolunaFirst is a wholesale mortgage company committed to uncompromising
customer service, competitive pricing and a broad range of loan products.<p>``LoanCity.com is dedicated to helping brokers deliver better service and
value to mortgage consumers, and our agreement with ARC Systems deepens our
product offering in the sub-prime markets,'' said Rick Soukoulis, founder and
CEO of LoanCity.com. ``Plus, we get to work with a company as committed to
service and technology as we are.''
Founded in Silicon Valley by a team of
mortgage specialists, LoanCity.com provides technology and service to the
growing ranks of mortgage brokers who want to compete in the Internet age.
LoanCity.com's leading-edge loan search engine can access more than 50,000
loan programs from the nation's top institutions that service 75% of all
mortgage loans.<p>ARC Systems, a custom software developer of Internet-based relational
database applications, produced LT2k.
LT2k is the world's first Internet-
based automated underwriting system for sub-prime mortgages.
ARC Systems
provides dynamic solutions to specific underwriting problems allowing for
flexibility and expansion into any industry for any decision that requires a
credit check including auto, debt consolidation and credit card applications.
Visit <a href="http://www.arcsystems.com">www.arcsystems.com</a> for more information, or contact Ed Jones, CEO of ARC
Systems, at <a href="mailto:enj@arcsystems.com">enj@arcsystems.com</a> (512-892-5550).