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Non-Tech : BASIS100 BAS-TSE -- Ignore unavailable to you. Want to Upgrade?

To: Kevin G. O'Neill who wrote (86)	9/18/2001 8:40:38 AM
From: Al Collard	Read Replies (1) \| Respond to of 104

RealEC Technologies announces partnership with Basis100 to broaden property valuation service The RealEC Exchange to provide expanded portal for Basis100 instant property valuation services to the mortgage origination, consumer credit, fixed income trading, and service vendor markets SANTA ANA, CA, Sept. 18 /CNW/ - RealEC Technologies(TM), the industry's leading secure B2B eCommerce exchange for real estate transactions, today announced a partnership agreement with Basis100 Inc. (TSE:BAS), an e-commerce technology solutions provider for the financial services industry, that will seamlessly integrate RealEC Exchange's extensive integrated solutions into Basis100's AVM production system, powered by Solimar technology. "The addition of Basis100 to the RealEC service provider list introduces technology currently utilized by eight of the top ten equity lenders in the U.S.," said RealEC Technologies president Jeff Sanderson. "This partnership enables Basis100 to offer its AVM technology through numerous channels while providing mortgage originators a portal partner through RealEC Exchange," he said. Basis100's AVM produces a valuation report for RealEC's customers in five seconds. The report, which passes transparently through the RealEC portal, will provide highest, lowest and expected market value, current owner, last assessed value, as well as comparisons against properties in the surrounding area, allowing RealEC's customers to make instant decisioning on loan applications. "Identifying partners such as RealEC, who create a one-stop-shop for real estate transactions, will increase our reach and penetration in the market by a large measure," said Gary Bartholomew, CEO and Chairman, Basis100. "Many channels exist for lenders to utilize when originating loans, and by partnering with RealEC we will be accomplishing our objective to maintain a presence throughout the lenders' choice of channel." "A successful portal will keep their customers within its boundaries," said Owais Durrani, president, Basis100 US division. "The fewer times your customer has to look to other providers, the better. By partnering, we are able to round out RealEC's offerings and present customers with all the tools they require in one place." RealEC is designed to facilitate the origination, servicing, and closing of real estate transactions and to enable real estate practitioners to significantly enhance their businesses, RealEC provides integrated solutions through the following core components: The RealEC Exchange is an intelligent routing process that offers traditional transaction capability and provides a standardized connectivity and data transport functionality for originators and vendors involved in the transaction. It handles data translation and facilitates rapid information flow while integrating seamlessly with vendors' production systems. RealEC Technologies is an affiliate of Micro General Corporation (NASDAQ: MGEN), a leading full-service enterprise solutions provider of real estate industry applications and e-Commerce, and Stewart Title Company is a minority owner in RealEC Technologies.