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Option One Increases Transparency with Lewtan Technologies’ Issuer Web Solutions |
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Option One Mortgage Corporation Launches Enhanced Investor Reporting WebSite |
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Contact: |
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Christine Sullivan Option One Mortgage 949-790-3600 www.oomc.com |
Ned Myers Lewtan Technologies, Inc. 781-895-9800 www.lewtan.com |
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January 30, 2003, Irvine, Calif. - Option One Mortgage Corporation and Lewtan Technologies announce the release of Option One’s enhanced investor reporting Web site at the investor relations section of www.optiononemortgage.com today. Option One developed the new site to provide both the ABS/MBS and equity investor communities with increased transparency. Investors can access the site at no cost. Option One’s site is unique among ABS and MBS issuer Web sites in its combination of analytical tools and its integration with Lewtan’s ABSNet™ product. The site distills aggregate liability and collateral data on the underlying securities to allow investors to create custom views and comparisons of the data. In addition, investors have the ability to maintain their unique portfolio of Option One’s holdings using the site’s "Portfolio" capability. The Option One site leverages Lewtan’s ABSNet technology platform and user database, allowing access to the over 15,000 registered securitization professionals currently using the ABSNet industry portal. "Option One has historically provided reporting to the public on its overall loan performance, offering loss, prepayment, and delinquency data by vintage, " said Chuck Harkins, vice president of Secondary Marketing at Option One. "Our new Web offering expands our investor report dissemination in a number of ways. First, we now offer a greater depth of data by expanding the variables that we track. Second, we offer online tools for investors to customize their views of the most important data. Third, we allow investors to create graphs or to download their preferred view of the data. And finally, we introduce the data supporting the structured finance side of our transactions and identify the performance of the distinct loan pools supporting each security." "Using the ABSNet platform ensures that Option One presents data in a manner consistent with investors’ existing practices and expectations," said Harkins. "Lewtan’s success with building Web sites powered by ABSNet™ allowed them to deliver a solution that exceeded our expectations." "We are privileged to work with a leading home-equity originator and servicer like Option One," said Stuart Lewtan, president & CEO of Lewtan Technologies. "As Option One continues to expand the breadth and depth of ABS data provided to the investor community, we look forward to assisting them in their efforts." About Option One Founded in 1992, Option One originates and acquires nonprime products through a national network of brokers and lenders. Its nonprime servicing and sub-servicing operation has more than $28 billion under management as of Dec. 31, 2002. H&R Block Mortgage Corporation, a wholly owned subsidiary of Option One, markets a variety of direct-to-consumer mortgage products nationwide. With headquarters in Irvine, Calif., Option One employs more than 3,500 associates nationwide. Option One Mortgage is a subsidiary of H&R Block, Inc. (www.hrblock.com), a diversified company with subsidiaries that deliver tax services and financial advice, investment and mortgage products and services, and business accounting and consulting services. For more information, visit the company’s Web site at www.optiononemortgage.com. About Lewtan Technologies Founded in 1986, Lewtan Technologies is the leading provider of workflow solutions to the global asset securitization industry. Lewtan entered the nascent ABS marketplace with the first automated reporting system for issuers. Today more than 200 institutions rely on Lewtan Technologies’ solutions. In 1999, working in partnership with industry leaders including S&P, Fitch, and Banc One, Lewtan launched ABSNet, the industry’s leading source for ABS intelligence and surveillance. In 2001 with Deutsche Bank Corporate Trust and Agency Services, Lewtan launched iCDO, the industry’s only full-service, Web-based CDO management and administration system. Additional information available at www.lewtan.com www.ABSNet.net |
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