GFS Is First LOS Company to be MXCompliance Certified

Brentwood, TN - Gallagher Financial Systems, Inc. is the first loan-origination software (LOS) company to be MISMO XML Compliance (MXCompliance) certified for credit reporting by MISMO. MISMO, a not-for-profit subsidiary of the Mortgage Bankers Association (MBA), announced that a total of three companies, Gallagher Financial Systems, Bixby Consulting, and Fair Isaac Corporation, recently completed the certification process for MXCompliance. Fair Isaac Corporation is a provider of decision management software for the credit reporting industry. Bixby Consulting operates in conjunction with e Here Now, a provider of data transformation software for the mortgage credit industry.

MISMO offers three types of MXCompliance services: Verification, Import, and Export. Verification is a service for businesses interested in purchasing Certified Products. This service ensures that a vendor's delivered products are identical to those that were previously MXCompliance certified. The Import and Export services are used by applicants seeking certification of their products that read or write MISMO standards. Gallagher Financial Systems was awarded MXCompliance certification for Credit Response v2.1.1 and Credit Request v2.1.1.

"MISMO has become an important part of our business processes," said Greg Alvord, Knowledge Architect for Gallagher Financial Systems, Chairman of MISMO's Core Structures Work Group, and elected member of the MISMO Governance Committee. "Most inquiries we get from lenders include a reference to MISMO compliance. The problem has been that there was no way for a lender to validate the claim of 'MISMO Compliance' between venders. We are proud to be the first LOS with a legitimate MXCompliance certification. We intend to certify the remainder of the Credit versions and to certify with the mortgage insurance facilities that MXCompliance brought on line last week. As the other MISMO work groups provide certification information to MXCompliance, you can expect that GFS will be among the leaders in receiving certification."

About Gallagher Financial Systems
Founded in 1985, Gallagher Financial Systems provides flexible, scalable, web services-based loan origination and decisioning solutions for both the mortgage and consumer lending industries. Gallagher's NetOxygen architecture allows lenders to improve efficiencies via dynamic workflow routing and rule-driven, streamlined business processes. NetOxygen is designed to handle all aspects of the lending process for all channels and loan types using a component-based, end-to-end system. For more information, visit Gallagher's corporate Web site at www.gogallagher.com

About MISMO
MISMO, a not-for-profit subsidiary of the Mortgage Bankers Association (MBA), develops data transfer protocols that span the $9 trillion residential and commercial real estate finance industry. MISMO coordinates the development and maintenance of Internet-based Extensible Markup Language (XML) real estate finance specifications and electronic mortgage guidelines through a voluntary, open and vendor-neutral process, and its workgroups include more than 1,000 individual participants from over 160 subscribing organizations representing all sectors of the residential and commercial industry: lenders, originators, servicers, investors, government-sponsored enterprises, technology vendors, multiservice providers, credit reporting agencies, insurance firms, tax services and law firms. For more information on MISMO, visit www.mismo.org.
For more information on MXCompliance, visit mxcompliance.mismo.org.