IRR-Residential Selects ATM’s Industry-Leading Vision 4 Platform to Automate Appraisal Management Nationwide

Pittsburgh, PA and Westwood, KS (December 4, 2006) -- ATM Corporation of
America, a leading provider of settlement solutions to large, national mortgage lenders,has announced today that IRR-Residential, LLC, a national residential appraisal organization, will use a version of its Vision 4 technology to accept, distribute and manage appraisal orders nationwide. For ATM, IRR-Residential’s decision is unprecedented as this will be the first organization of independently owned and managed residential appraisal offices to take advantage of the automation that its technology delivers. With this engagement, ATM opens a new market for its services as it continues to build on the momentum of several large-scale client engagement wins in 2006, including Equifax and Home Connects, a subsidiary of GMAC Residential. Beginning in early 2007, IRR-Residential will offer its clients and affiliate members access to the technology through an Application Service Provider (ASP) model to increase its ability to automate the assignment and delivery of property valuations. Through use of ATM’s appraisal module, IRR-Residential will be able to increase the volume of appraisal assignments it can handle, while achieving cost efficiencies. This shows how ATM’s Vision technology can be used as an end-to-end settlement system, or for discrete tasks within the mortgage closing process. This flexibility gives ATM’s Vision 4 technology broad industry appeal as it is designed to meet the needs of a wide variety of customers. "As a growing company, we were looking to partner with an industry leader whose proven technology would give us a competitive advantage, while increasing our process efficiency and productivity," said John Wood, President and COO of IRR-Residential, LLC. “ATM’s Vision technology will allow us to increase our geographic reach and reduce both service time and costs through automated distribution and reporting of appraisal assignments. This increased capacity for valuations will be an important part
of our growth platform as we look to attract new lender customers and affiliate partners." ATM’s Vision technology was chosen after an extensive IRR-Residential market search. IRR-Residential plans to utilize the appraisal module of the Web-based Vision 4 system to handle more requests faster, while gaining the benefits of a paperless process, as assignment distribution, scheduling and reporting are handled via an Internet-based system. The Vision 4 technology will allow IRR-Residential to address lenders’ requests for centralized appraisal order processing and consolidated, single point-of-contact service delivery to add value for customers. “We are excited to partner with IRR-Residential, and to offer its affiliates the opportunity to take advantage of the benefits that our Vision technology can deliver,” said Francis Azur, president and CEO of ATM. “In doing so, we will be able to help IRR-Residential maintain the high standards it has set for quality in assignment fulfillment, while supporting the company and its affiliates’ business growth. For ATM, we’re continuing to build on the momentum we’ve generated this year. We’ve been able to establish our technology as industry leading, while opening new markets to companies, such as those with a business model similar to IRR-Residential.” ATM’s VISION system manages the mortgage closing process to include clearing the title; scheduling the closing; preparing the HUD-1 and other mortgage-related documents; disbursing the funds; and recording and issuing the final insurance policies. The Vision 4 System uses electronic loan documents, known as Paperless Loan Files(PLF), which are enabled through the software system's VisionSure(SM) technology. This technology creates a centralized Web-based document management system, which significantly reduces hard copy mortgage documentation from 80-120 pages to a simple mortgage agreement and deed filed with the local county clerk.
About IRR-Residential IRR-Residential, LLC is a national residential appraisal organization that launched operations in July 2006. The Kansas City-based firm currently has 40 locally-owned and operated residential appraisal offices in 24 markets in 15 states. It plans to grow to several hundred offices in the next five years. IRR-Residential was formed to respond to trends in the residential appraisal industry. As lenders consolidate, they are migrating to centralized processing of appraisals instead of contracting directly with local appraisal providers. IRR-Residential has a national sales and marketing team dedicated to developing relationships with regional and national clients. For more information on IRR-Residential, visit www.irr-residential.com.
About ATM Corporation
ATM Corporation, holding company for Vision Global Solutions, LLC, provides
settlement services to large, national mortgage lenders and is the country's leading provider of consulting and technology services to lenders looking to build their own
settlement services subsidiaries. ATM employs more than 600 full-time employees at its national operations center in Moon Township, PA, a Pittsburgh suburb, and contracts with more than 20,000 attorneys, appraisers, abstractors and settlement service providers throughout the United States. Companies that license ATM's Vision
technologies or have chosen ATM to build national settlement service subsidiaries
include Countrywide, Citigroup, GMAC Mortgage, Key Bank, E*Trade Mortgage, Navy
Federal Credit Union, Accredited Home Lenders and Equifax.
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