Business Editors/Real Estate Writers

SEATTLE--(BUSINESS WIRE)--May 25, 2004

With the popularity of reverse mortgages growing at an exponential rate, Seattle Mortgage, the second largest originator and servicer of reverse mortgages, is taking the initiative to create groundbreaking reverse mortgage software with ReverseWare(TM) 2.0. ReverseWare(TM) is Seattle Mortgage Company's unique proprietary origination, processing and servicing system for reverse mortgages.

The birth and rapid growth of reverse mortgages is a recent phenomenon, and as such, very little effort has been made in the public arena to develop corresponding software programs. Unlike typical "forward" mortgage programs, there are currently no comprehensive reverse mortgage-specific systems available in the marketplace. Therefore, Seattle Mortgage is taking the ground-breaking software designed in the mid-'90's and building an even more robust, web-based system out of it.

With the launch of ReverseWare(TM) 2.0, the company has been able to incorporate new features such as live updates, calculation software, and advanced automation to reference up-to-the-minute changes in county loan limits and interest rates. One of the most useful advances results from being web-based. This allows for seamless distribution of the product and extends the ability to access the system from any Internet ready computer.

Sarah Hulbert, vice president and national director of Reverse Mortgage for Seattle Mortgage, says, "Providing our customers with the most efficient, professional service is key to this industry. We believe that this can be better achieved through programs such as ReverseWare(TM). We decided that, if a superior product wasn't available for our employees and partnering lenders, then it is our job to build one."

The company expects results similar to the first version which was contracted for use in banks across the nation. All Seattle Mortgage employees and correspondents will receive expert training in the new specialized software.

For additional information, visit www.smcreverse.com or www.seattlefinancialgroup.com.

About Seattle Financial Group