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Press Release — March 4, 2002 NEWS RELEASE
FOR MORTGAGE BANKS Fort Lauderdale, FL — Engineered Business Systems, Inc. (EBS), a wholly owned subsidiary of Tangent Solutions, Inc., a fully reporting company (OTC Bulletin Board symbol TSII), has released the latest version of its Automated Compliance and Evaluation System (ACES™), the leading software system for mortgage quality control. Currently, ACES™ is installed in over 40 of the largest mortgage banks in the US. The new version, ACES™ Silver, includes many new features designed to save time and increase speed, including receiving credit reports over the Internet. The new Internet-enabled ACES™ enables mortgage banks and quality control departments to pull merged in-file credit reports using 128-bit encryption, and without additional keying in of information. This substantially speeds up the credit report process, while greatly improving security. The new version also enhances the printing of multiple reports and batch printing of documents. Other features of ACES™ Silver include a new “universal” questionnaire, which includes questions required of users of Fannie Mae’s Desktop Underwriter and Freddie Mac’s Loan Prospector, new and improved help files, improved document templates, spell-checking for all context and fill-in boxes, and enhanced graphics. Engineered Business Systems, Inc., a leader in mortgage quality control systems since 1993, has placed additional focus on offering cutting-edge technology that can be used with its products. Along with ACES™ Silver, EBS has introduced optional biometric security technology for use by mortgage banks seeking to increase internal security and the security of consumer information, as dictated by new legislation such as the Gramm-Leach-Bliley Act. Biometric security measures further ensure that only authorized users of the system can enter the ACES™ program, while eliminating the need to assign user passwords, which can be lost, stolen, forgotten, or shared with unauthorized individuals. According to Vito Bellezza, CEO of Engineered Business Systems, Inc. and its parent company, Tangent Solutions, Inc., “ACES™ Silver is the result of a year-long development project dedicated to increasing the security of consumer information, ensuring user authentication, and increasing the speed with which mortgage banks can complete the quality control review process, in order to focus on reporting important findings, including suspected fraud and identity theft.” ACES™ Silver was unveiled at the EBS Mortgage Banking Conference in February 2002, which focused on security. A guest speaker from the US Secret Service confirmed that identity theft is the fastest growing crime in America, and a major contributor to mortgage fraud. For more information about ACES™ Silver or biometric security devices, contact Susan Connors, Product Manager, Engineered Business Systems, Inc., at 800-283-2747 ext. 8126, or visit our web site: http://www.ebs-inc.com. “Safe Harbor” Statements under the Private Securities Litigation Reform Act of 1995: With the exception of historical information, the matters discussed in this press release are forward-looking statements that involve a number of risks and uncertainties. This release reflects our current assumptions and expectations regarding future events, which may or may not materialize. Additional factors that could potentially affect the Company’s financial results may be found in the Company’s filings with the Securities and Exchange Commission. |
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