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NEWS / 2007 PRESS RELEASES

 

Dynatek’s Plug-In Partner Network Grows 86%
Mortgage Software Provider Expands Scope of Integration
Technology with Higher Transaction Volumes and Additional Offerings

Livonia, Michigan, February 1, 2007 – Dynatek, Inc., an established leader in revolutionizing mortgage automation, today announced that its Plug-In Partner Network experienced major growth in 2006. The company expanded the number of Plug-Ins and Partners from 110 to 125. Plug-In transactions also grew by 241,724, bringing the company’s two-year adjusted growth to 86%.

Dynatek added 15 new Plug-Ins in 2006. This represents 13.64% growth in the number of partners, brings the company’s grand total up to 125 Plug-Ins in 17 categories, and triples the number of choices available to MORvision customers since 2004.

One of the most noteworthy Plug-Ins from 2006 was the Mortgagebot Plug-In. Like most Plug-Ins, the Mortgagebot Plug-In is available to Dynatek customers at no charge. Making it significant is the fact that it eliminates the need for a custom interface that typically cost customers upwards of $30,000. Further, Dynatek was able to release this Plug-In between major service packs. Ease and speed-to-market are two of the greatest advantages of Dynatek’s integration technology.

1,459,959 transactions were recorded by Dynatek’s Plug-In Partner Network in 2006 with an average of over 121,000 transactions monthly. Compared with a monthly average of 72,000 transactions in 2004, this is a 70% increase in just two years.

“The overall mortgage volume in 2006 was actually less than the volume experienced in 2004 and 2005 so you really have to take the shrinking market into consideration and look at the adjusted numbers,” said Dynatek president and CTO, Todd Luhtanen, CMT. “The adjusted growth is an even bigger indicator of how well MORvision customers have embraced our technology to help simplify their lending process.”

Dynatek applied Freddie Mac’s January 2007 Housing Outlook Residential Totals¡ to figure an adjusted growth rate for the Plug-In Partner Network. Using these numbers the company figures the Plug-In Partner Network actually grew 46% in 2006, and 86% over a two year period.

Dynatek predicts continued growth for the Plug-In Partner Network in 2007. Many new Plug-Ins are already in development, including two that will expand Dynatek’s category total to 19. These are QuestSoft’s Compliance Eagle Plug-In, which will open a new product category for Compliance, and BeesPath Direct, which will be the first Closing Document Delivery Plug-In.

Dynatek’s goal with the Plug-In Partner Network is to provide MORvision customers with access to efficiencies along every step of the mortgage process. The company believes the variety of integration opportunities they offer enables MORvision customers to further streamline their operation, making it simpler for them to process mortgages, and therefore more productive and profitable in the long run.

About Plug-In Technology

Dynatek developed the Plug-In Integration Suite as a means to fix the problem of disconnectivity between participants in the mortgage industry, while also providing a bigger return on investment for their customers. It works by enabling third-party service providers to develop seamless connections with MORvision. This allows for easy sharing of data with Dynatek’s MORvision LOS system in a two-way data exchange that uses XML and open architecture.

For more information on Dynatek’s award-winning integration technology and Plug-In Partner Network log on to www.dynatek.com and click on ‘Plug-Ins’.

About Dynatek
Founded in 1986 and headquartered in Livonia, Mich., Dynatek has been revolutionizing mortgage automation for retail and wholesale lenders for more than 2 decades. Dynatek’s MORvision is a flexible solution that automates everything from point-of-sale and web origination through processing, underwriting, closing, secondary tracking and delivery. Dynatek is attributed with a long list of industry innovations including their award-winning Plug-In Partner Network, which seamlessly connects MORvision users to industry partners with just one click; and their unique Control Center, which offers capabilities for eMortgage, business process management, and multi-client support. With Dynatek’s complete mortgage software solution and multi-faceted approach to customer service, the company has earned numerous industry commendations and the respect of hundreds of full-service financial institutions across the nation. For more information on Dynatek or to schedule a free needs analysis, call 800.462.5545 or log on to www.dynatek.com