SOURCE: MDA MindBox, Inc.

March 29, 2006 09:00 ET

MindBox Lowers Entry Costs for Automated Lending Platform

Award-Winning ARTOptimize Loan Automation Software Available Now as Hosted Monthly Subscription Service; Opens Wider Market for MindBox Technology

SAN DIEGO, CA -- (MARKET WIRE) -- March 29, 2006 -- MBA NATIONAL CONFERENCE -- MDA MindBox® Inc., a leader in information solutions for automating complex business and decision processes, today announced that it will offer its award-winning ARTOptimize loan automation software as a hosted service available for a monthly subscription.

MindBox will be showcasing ARTOptimize and its hosted solution -- along with its entire family of software components for mortgage lending -- in booth #608 at the MBA National Conference on Technologies in Mortgage Banking, March 29-April 1.

ARTOptimize software is designed to optimize every loan transaction by evaluating each applicant and then automatically structuring multiple deal alternatives that satisfy the borrower's and lender's specific requirements. The system checks the application against loan guidelines, considers compensating factors and tolerances for various financial scenarios, and proposes modifications and alternatives to an initial deal in an effort to make available the best product and rate available -- suggesting the appropriate points, rate, term, down payment, debt consolidation, cash out (where applicable), and additional lien positions. The system is able to handle modifications of loan/cash out amount and loan-to-value ratios in order to find a product and structure a deal for which the consumer is eligible.

The MindBox ARTOptimize hosted solution will be housed in two SAS 70 compliant data centers located in California and Illinois, and will offer commercial-strength security and service level agreements guaranteeing 99% minimum uptime.

"We've seen in our research an increasing demand for hosted software solutions," said Craig Focardi, Research Director, TowerGroup. "Regional and local lenders can now get similar sophisticated functionality that the large lenders have, but with lower up-front pricing and faster deployment than a proprietary solution."

"Our recent acquisition by MDA is what has allowed us to offer hosted versions of our information solutions," said Rich Barfus, President and CEO of MindBox. "MDA already operates world-class data centers around the country which are monitored 24 hours a day. Our software was already architected to run in these high-availability environments, so it was relatively easy for us to re-configure ARTOptimize as a hosted solution."

About MDA MindBox, Inc.

MindBox® is an information solutions company focused on financial services organizations. MindBox provides solutions that leverage company and industry best practices in order to automate common lending practices such as underwriting, pricing, product best fit, deal structuring, debt reparation and cross sell across multiple origination channels. The company's products and services have a proven track record of reducing cost and increasing revenue by automating knowledge-intensive business processes using sophisticated decisioning systems and award-winning rule and case-based reasoning software.

MindBox technology integrates internet interfaces and other client contact channels with back-end business operations into one streamlined, efficient system that provides individually tailored, optimized customer interactions. More information can be found by visiting www.mindbox.com or by calling (877) 650-MIND (6463).

About MDA

MDA provides advanced information solutions that capture and process vast amounts of data, produce essential information, and improve the decision making and operational performance of business and government organizations worldwide.

Focused on markets and customers with strong repeat business potential, MDA delivers a broad spectrum of earth and space based information solutions, ranging from complex operational systems, to tailored information services, to electronic information products.

MDA employs more than 2,700 people in locations across the United States, the United Kingdom, and Canada. The Company's common shares trade on the Toronto Stock Exchange under the symbol (TSX: MDA).

Related Web sites:

www.mdacorporation.com

www.mindbox.com

© 2006 MDA MindBox Inc. All rights reserved. MindBox® is a registered trademark of MindBox. All other trademarks and company and product names are property of their respective owners.

Contact Information

  • Media Contacts:
    Marie Clark
    Rocket Science PR, for MindBox
    (415) 464-8110 x4
    Email Contact