Presentation Informational February, 2001 The RealEC Exchange.

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Presentation transcript:

Presentation Informational February, 2001 The RealEC Exchange

* Orange County Business Journal, 1999 and 2000 About our Parent, Micro General Corporation Technology-based solution provider for the Real Estate Industry. NASDAQ: MGEN. Orange County, CA’s Fastest Growing Company* 400+ Employees State-of-the-art Data Center in Chicago Title & Closing Industry’s Leading Production System Provider Successful spin off of Escrow.com and RealEC * Orange County Business Journal, 1999 and 2000 RealEC’s Parent is the Leading Provider of Workflow Systems to the Title and Real Estate Industries RealEC utilizes a web-based user interface to facilitate seamless, real-time communications between participants and remove the friction from real estate transactions by providing a higher level of customer service. RealEC’s core real estate services include… Built into the product is the ability to add new products and services such as...

Nation’s Largest Real Estate Technology Exchange About RealEC Technologies™ Founded in 1998 – evolved from Service Provider segment of Real Estate Industry B2B Data Exchange 2000+ service providers Only network with integration to all national underwriters True data integration Fannie Mae MORNETPlus Connections® Partner Exponential growth in industry adoption, transactional volume and market share Nation’s Largest Real Estate Technology Exchange RealEC utilizes a web-based user interface to facilitate seamless, real-time communications between participants and remove the friction from real estate transactions by providing a higher level of customer service. RealEC’s core real estate services include… Built into the product is the ability to add new products and services such as...

The RealEC Exchange™ RealEC utilizes a web-based user interface to facilitate seamless, real-time communications between participants and remove the friction from real estate transactions by providing a higher level of customer service. RealEC is a standardized, electronic platform from which lenders and realtors can order and receive products and services from multiple vendors, such as credit, flood, appraisal, title, and closing.

Multiple Communication Channels “Inefficiencies” of Scale Originators Service Providers Lender A Lender B Mortgage Broker Real Estate Broker MORNETPlus Online Realty Title Company A Flood Company A Credit Company A Appraisal Mgmt Title Company B Flood Company B Another Appraisal Multiple Communication Channels

Reduce time and costs through a single connection Streamline the Process through the RealEC Exchange Service Providers Title Company A Flood Company A Credit Company A Appraisal Mgmt Title Company B Flood Company B Another Appraisal Originators Lender A Lender B Mortgage Broker Real Estate Broker MORNETPlus Online Realty Reduce time and costs through a single connection

Gain Greater Efficiencies through the Exchange RealEC Value Proposition for Originators Choice of Providers Choice of Products Standardized Interface Receive Data and Work Product Private Label Options Integration Capabilities Eliminates duplicate data entry LOS Data Export/Import Gain Greater Efficiencies through the Exchange

Greater Access to Customers RealEC Value Proposition for Service Providers Increased channel to customers Standardized Interface Reduced Costs Private Labeled Vendor site Integration Development Kit Hosted Environment Benefit from data already entered by originator (no re-keying of data) Greater Access to Customers

Products and Services Available Only through the RealEC Exchange Products and Services available on RealEC Exchange Home Inspection Mortgage Insurance Survey Homeowners Insurance Online Document Presentation Home Warranty Automated Property Valuations Credit Reporting Appraisal Flood Information Title Escrow & Closing Services Products and Services Available Only through the RealEC Exchange Vendors’ proprietary networks often do not met the needs of lenders and realtors. Most systems are not internet-enabled and it is a costly process to do so. Working with a single vendor can be risky. Originators and Vendors benefit from using RealEC by lowering, and sometimes, eliminating the costs associated with integrating their products through a standardized interface.

Utilization Options RealEC Exchange RealEC.com Web Interface Order, Track, Status, View Documents, View Products, Reporting and Turn Time Tracking E-Mail Ordering, Status Updates, Product Delivery LOS Integration Direct Integration - numerous interface options Combinations of all options available RealEC offers flexible Utilization options

RealEC Technologies: Implementation Overview Review Integration Options Outline Phase I Deliverables Identify Third Party Vendors Add Vendors to Exchange Design Integration Develop and Implement Interface Customize Training Program On-Site Training available Implementation Process

Integration Process for RealEC Exchange Integration Sponsorship Kick-off Meeting Data mapping Event mapping Product mapping File review Connectivity setup File transfer setup Integration Programming Alpha testing Beta testing User acceptance testing RealEC Technologies = Integration Experts

Integration Options for RealEC Exchange SMTP, FTP HTTP / HTTPS 128 bit security PGP Encryption – File Based Available for all methods XML Integration Formats MISMO XML Credit Support FNMA 1003 File Support Custom Integration for all other file formats Active-X and Java Based Tool Kits RealEC Integration Options

Options Connectivity Internet Dedicated Circuit Frame Relay Sprint MCI Goldworks VPN (Future offering) Physically Connecting to RealEC

RealEC is the preferred choice among service providers RealEC’s 2000+ Service Providers Flood = 38% market share Integrated providers Appraisal = 65% market share Access to Independent Fee Appraisers Appraisal Management Companies Appraisal software vendors Credit = 65% market share Consumer credit providers Business credit providers Service Provider Management = 45% market share Top Vendor Management Service Companies RealEC is the preferred choice among service providers

Check out what only RealEC has to offer. Integrations, data and more RealEC Technology’s Competitive Advantage Fully Integrated to Service Provider Production Systems No re-keying of data for provider to satisfy request Only network with integrations to all national providers Uniquely able to return full data sets as well as imaged product Only Network Integrated to these order Aggregators Fannie Mae MORNETPlus Connections® eMagic Dexma Robust WEB-based Ordering ICSA certified Supports multiple browser Propagate individual document views Private Label Opportunities No membership fees Not owned by lender-competitor Check out what only RealEC has to offer. Integrations, data and more ©2001, RealEC Technologies, Inc.