SEATTLE--(BUSINESS WIRE)--Aug. 10, 2006--LION, Inc. (OTCBB:LINN), a leading provider of online lead generation and advanced business solutions that streamline the mortgage fulfillment process, today announced the introduction of a number of high value, advanced product features to the Company's Precision MTS product suite. Product enhancements include a subprime search engine for conforming and subprime loan origination products; enhanced connectivity to Fannie Mae's DO, DU, automated underwriting and credit services; and new website features that include enhanced calculators, rate lock submission forms, advanced content and improved user interface. Additional features include internal benefits to improve work flow efficiency and improved product delivery processes such as new investor product and pricing configuration tools, a broader multi-investor loan search capability and the ability to easily create Precision MTS retail websites with new "apply now" technologies.
"Subprime mortgage search capability has been the most often requested enhancement by institutional customers and prospects alike and this enhancement to our product line represents a strategic milestone," stated Randall D. Miles, Chairman & CEO of LION, Inc. "We currently have a backlog of potential customers that have been waiting for inclusion of subprime features and toolsets in our product offerings. Subprime, or non standard loans, are becoming an increasingly larger subset of the overall mortgage origination market and lenders seeking to more effectively attract and retain customers in this segment will be drawn to our enhanced features and tools. Additionally, our product upgrade to Precision MTS extends beyond sub prime product search and pricing, delivering a number of important feature upgrades that we believe will accelerate Precision MTS sales and revenue. Since introducing Precision MTS late last year, we have experienced steady sales success and have recently reported our first quarter over quarter increase in revenue in the product line. We expect to continue to build on that momentum."
LION, Inc. is a leading provider of advanced business solutions that streamline the mortgage loan fulfillment process in the over $2.5 trillion mortgage industry. From Leads to Loans to Capital Markets, LION offers consistent, seamless business solutions to consumers, brokers, realtors, originators and lenders. LION provides an integrated technology platform offering online loan productivity, mortgage pipeline hedging and risk management, software development and data communication tools. LION's business to consumer Internet portal, Mortgage101.com, attracts over 1 million unique monthly visitors, delivering access to LION's extensive proprietary network of mortgage brokers, realtors and lenders. Through its subsidiary, Tuttle Risk Management Services LLC, LION provides hands-on mortgage pipeline risk management for financial institutions that originate and then sell loans into the secondary market. LION has offices in Washington, California and Colorado and has been named by Deloitte & Touche LLP as one of the 50 fastest growing technology companies in the state of Washington for 2004 and 2005. For more information about LION, please visit www.lioninc.com
