The Company's Mortgage Technology Division provides business solutions to banks, savings institutions, mortgage banks, mortgage brokers, and credit unions. This division's product line encompasses all major components of the mortgage loan production process, secondary marketing activities, mortgage loan servicing, and construction loan servicing. These solutions coordinate activities across legacy systems, enterprise applications, databases and Internet technologies. The Company sells its products primarily through a direct sales force. Revenues reflect decreased software license fees due to a slow sales environment.
Higher loss reflects the write off of goodwill and capitalized software.
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