MyHomeAssets! Announces New Software for the Mortgage Industry First Software Offering the New 1003 PA Report for Personal Assets. Will help manage fallout from sub-prime mortgage problems.

BEND, OREGON – July 30, 2007 – MyHomeAssets! Software announced today the general release of Version 2.6, containing the new 1003 PA form for reporting and verifying personal assets. The new software is the first of its kind on the market, and will help mortgage brokers qualify customers for home loans.

Larry Cummings, CEO of F.F.S. Capital Group in Scottsdale, Arizona helped to test-market the program and says the new 1003 PA form has been a big help in qualifying marginal borrowers. “We started offering MyHomeAssets! Software to prospective clients before the industry started clamping down on risky mortgage lending. It helped us qualify more borrowers then, and is becoming even more important now as lenders need better insight into a borrowers worth.”

Cummings says many mortgage brokers overlook the personal assets box of the 1003 loan application. “Most brokers assist home owners fill in the personal asset box by guessing a number that is often too low. Where we might enter $10,000 to $20,000 in this line item, borrowers who use the software to catalog their assets often find their personal assets are as much as ten times what they believed it was worth.”

MyHomeAssets! software provides consumers with an easy to use system to catalog their personal assets. Software users catalog each item in their home, entering make, model, and serial number into the MyHomeAssets! database. Photos of the items can be attached, and other information such as estimated value, original purchase information, and insurance information can be entered. A total on the asset list shows the exact value of their personal assets.

When applying for a home loan, the borrower can use the MyHomeAssets! software to print out a 1003 PA form, neatly listing each item in their home or vehicle. They can sign the form, indicating they certify it as true and accurate. “We offer complimentary copies of the software to those visiting our office, website, or calling us on the phone,” Says Cummings. “It builds an instant bond of trust, integrity, and knowledge that we can’t do with print or electronic collateral. Our customers are also surprised at how much their personal assets are really worth, and it has helped us qualify borrowers by providing a higher, believable personal asset value on loan forms.”

Michael Grigsby, CEO and founder of MyHomeAssets! Software says that several thousand home owners and renters were involved in a market research program in 2006. 86 percent of those respondents found they significantly undervalued the worth of their personal assets.

“That translates into a stronger position for borrowers,” claims Grigsby, “in an even tighter lending market now. Risky lending in the last few years is causing lenders to reconsider who they loan to now.” He adds, “Lenders appreciate the more accurate detail behind the personal asset number on the 1003 form.” Lenders are also interested in the 1003 PA documentation because it gives detailed insight into the kind of assets behind the number.

Japhet Berlin is President and founder of MyHomeAssets! Software and says the software is available in a very affordable bulk-licensing package. “Typically mortgage brokers buy several hundred to several thousands of copies of the software at publisher-rates and give it away to customers as a way of solidifying their relationship,” says Berlin. Software is distributed on a CD ROM in a jewel case, much like a music CD ROM, and can include the logo and contact information of the mortgage broker on the packaging and even on the software screens.

Berlin says MyHomeAssets! Software comes at a great time in an extremely volatile housing and lending market due to the instability of sub-prime loan category market segment. “This software will help mortgage brokers get marginal borrowers approved, while providing a loyalty, better service and actually getting the best rate and proper mortgage products that help grow their business and is highly valued and appreciated by consumers. This is an extremely powerful tool and quite frankly something that the industry has been lacking for sometime. I’m proud to be part of an organization that is forward thinking enough to care about both the lending and consumer segments of the marketplace, and we look forward to working closer with the mortgage industry to provide all the tool necessary to assist during this economic fallout to help the consumer market.” says Berlin.

About MyHomeAssets! Software
MyHomeAssets! Software is a 15 Development Group company providing personal asset cataloging and reporting solutions primarily to consumers through the mortgage lending and insurance markets. The software helps companies retain customers, grow their portfolios, and foster better relationships. MyHomeAssets! Software is located in Bend, Oregon. www.myhomeassets.com. 866-439-9125.


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