Boston - Nov. 1, 2004 - LendersLogic, Inc., formerly Boston Web Services, today announced the company was selected by Mortgage Technology magazine as a Rising Techstar of 2005 and the LendersLogic™ online mortgage decisioning software profiled in the November issue in an article on "innovative technology arriving on the grand stage of the mortgage industry."

Each year Mortgage Technology magazine selects from among vendors with new technology that are having an effect on the way the mortgage industry conducts business. The article cited LendersLogic™ value proposition with its "ease of use and speed factor."

"In this annual section we at Mortgage Technology … spotlight mortgage technology vendors we think you should keep an eye on in the coming months and years," the article read. "As you would expect by now [some] offerings are web-based, underlining the fact that the mortgage industry now does business routinely in a more web-centric environment."

Offered as a managed web service, LendersLogic™ is among the first stand alone business to consumer mortgage origination solutions that actually returns an underwriting assessment to both the consumer and the loan officer in seconds. Built in partnership with leading mortgage originators, the LendersLogic™ solution has a verified interface to Freddie Mac's Automated Underwriting System (AUS) and meets government guidelines for consumer data protection.

"We are thrilled that Mortgage Technology has recognized our efforts to more fully meet the needs of retail mortgage lenders trying to strengthen their internet sales channel," said Wayne H. Howe, president. "LendersLogic helps sellers maintain loan volume and close loans faster all while helping to cut direct origination costs by up to 30 percent."

Howe said the interest in automated online decisioning software is growing exponentially among lenders. For example, an August 2004 Callahan & Associates study of credit unions with an average $800 million in assets reveals that nearly 15 percent plan to add online mortgage decisioning software to their web sites. "Credit unions have been among the early adapters of this technology," Howe said.

About Boston Web Services

Boston Web Services was established in May 2003 to provide targeted managed hosting services to customers requiring real business solutions to complicated web-based business models. The company provides high level Internet engineering development to companies of all sizes. Boston Web Services was set up by Wayne H. Howe, founder of the Boston Internet Group, Inc., an award winning full-service web consultancy established in 1996. Boston Web Services is located in downtown Boston's Schrafts Center.

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