Jacksonville and Boca Raton, Florida, March 10, 2006 – WellFound Decade Corporation, the provider of award-winning business infrastructure and integration software, and Lydian Data Services, a leading provider of mortgage conduit services, announced today that they have merged. Following the transaction, WellFound Decade will operate under the name Lydian Technology Group as a wholly-owned subsidiary of Lydian Data Services.
Lydian Data Services provides many of the nation’s leading institutional lenders and investment banks with an array of end-to-end outsourcing services to manage and/or enhance all aspects of the mortgage operation. The firm’s outsourced mortgage conduit services streamline the process between sellers and leading mortgage aggregators and investors through the provision of services such as rate locking, tape cracking, underwriting and compliance, travel due diligence, wholesale processing, loan file imaging and data extraction, custodial services and servicing
transfer.
“This merger with Lydian Data Services empowers us to extend our reach in the marketplace,” explains Paul Gain, chief executive officer at WellFound Decade. “Lydian is a nationally recognized financial services company with over 1.6 billion in assets. Through this combination, the newly formed Lydian Technology Group will provide companies the critical link between data and services, offering clients a new level of service and integration.”
Lydian Data Services anticipates substantial advantages as a result of the merger. "Our clients turn to us to improve the efficiency of their processes," explains Bill Decker, chief executive officer for Lydian Data Services. "With the addition of WellFound Decade, we can do this in two ways. First, the addition of their integrated data hub technology will allow us to continue to efficiently integrate and automate our conduit services business. We have invested heavily in technology to increase operating efficiencies and expand our scope of services and we are confident that by
deploying this innovative data hub technology, we’ll be able to further streamline our business and create even more value for our clients. Second, since our clients are seeking to improve operational efficiency, we are confident that many of them will want to turn to our newly formed subsidiary, Lydian Technology Group, to further improve efficiencies in their operations through the deployment of enterprise business infrastructure and integration software."
Decker adds, "The combination of our products and services offers companies the best of both worlds with respect to enhancing their internal operations while having access to a variety of value-added mortgage conduit services through a scalable web services framework with
mortgage in its DNA. This is a win for everyone."
About Lydian Technology Group
Lydian Technology Group, a wholly owned subsidiary of Lydian Data Services (www.LydianData.com), provides awardwinning enterprise integration and process automation solutions that empower organizations to achieve a greater return on their current and future technology investments. The company’s integrated data hub technology equips companies with a cost-effective, ready-todeploy service-oriented architecture (SOA) with pre-built integration adapters to hundreds of financial services applications. The technology empowers companies to leverage best-of-breed technologies by making it easy to add, update or remove applications without system-wide repercussions. This time-tested solution offers a future-ready architecture to efficiently integrate systems, automate processes across disparate applications, and store all data in a centrally accessible repository. Authorized users have real-time access to enterprise-wide data through this central repository, and can engage in productive collaboration with other users. The technology also simplifies the deployment of business process management tools by equipping users with building block components. For more information, visit www.LydianTechnology.com.
About Lydian Data Services:
Lydian Data Services, a wholly owned subsidiary of Lydian Trust Company and the parent company to Lydian Technology Group (www.LydianTechnology.com), provides end-to-end outsourcing and a la carte services to manage or enhance all aspects of the mortgage operation for money center and community banks, credit unions, mortgage banking entities and premier investment banks. Through its award-winning, open-architecture platform, and industry-proven "best practices" fulfillment services, Lydian Data Services improves its clients' operational efficiencies, risk management and service delivery. The company has focused expertise in post-closing, quality control auditing services, correspondent loan acquisition services, origination fulfillment services (including wholesale and retail processing), and bulk due diligence. Lydian Data Services is a central clearinghouse and standard for high quality mortgage transaction processing and fulfillment solutions for leading lenders and investors within the mortgage industry. Lydian has been awarded the Ernst & Young Florida "Entrepreneur of the Year ® " award for Financial Services, has been repeatedly ranked one of the fastest-growing private companies on the Inc. 500, and was the top ranking financial services company to be recognized on the InfoWorld 100 list of the "Most Technologically Innovative Companies in the World." For more information, visit www.LydianData.com.
About Lydian Trust Company
Lydian Trust Company is a diversified financial services firm that provides a variety of banking and wealth management services to high net-worth clients and technology development and loan processing services to large financial services firms. Lydian is headquartered in Palm Beach, Florida, with offices located throughout Florida and in Arizona, District of Columbia, Georgia, New York, Pennsylvania, Connecticut, Oregon and Washington. For more information, visit www.Lydian.com.
Press Contact: Rosalie Berg
High Impact Marketing
(305) 971-5352
RosalieBerg@StrategicVantage.com
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