PRESS RELEASE

TeraVendo Releases Pro Version of LoanAce®

(Bellevue, WA  June 17th, 2009)  The Standard version of LoanAce has been provided to mortgage originators free of charge since its initial release in 2006.  Thanks to feedback from our users, we have been able to make significant strides in development over the years. 

If LoanAce is free, why are you charging for the Pro version?
Up to now, our primary source of revenue has been driven by users taking advantage of our vendor partners and integrated services offered within LoanAce.  While this concept has been well-received by our users, it is no longer sufficient as a stand-alone revenue source.
In order to support continued investment toward new development initiatives and compliance updates, we are now offering a Pro version of LoanAce at a low cost of $49.  We will still offer a free Standard version, which is basically the product that we have been offering up to this point, with a few improvements.  The new Pro version has expanded features, including borrower management with provision for co-borrower on a separate 1003, Combined Transmittal Summary, ability to swap borrowers, etc.  If you enjoy your free LoanAce, you will LOVE LoanAce Pro! 
We are committed to bringing you the best LOS on the market.  So although we cannot continue to depend solely on a “free” business model, we think you will like having an option.  We are excited for the future!  For more details about LoanAce Pro click here. 

In Partnership,

The TeraVendo Team

TeraVendo, Inc. is dedicated to providing secure, efficient and customer-friendly software solutions to loan originators, mortgage brokers, and loan officers. Since 2005 the Company has been invested in the development of the best possible information technology solutions for the Mortgage Industry.

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