SAUSALITO, Calif., March 26, 2001 — Tuttle Decision Systems Inc. today announced a solution to assist mortgage lenders in complying with the Financial Accounting Standards Board (FASB)’s FAS 133 directive. The solution, accessible through Tuttle’s Secondary Marketing Tools on the Web, provides mortgage lenders with the necessary reporting tools to help track and qualify for the hedge accounting requirement.
FAS 133 sets standards that lenders must meet to receive hedge accounting treatment. At the heart of the FAS 133 directive is a requirement to periodically test the effectiveness of a hedge strategy.
Meeting the requirement takes investments in risk-management strategies, analytical tools and software. In the past year, Tuttle has worked with clients and several large public auditing firms to develop a set of reports that provide information from a broad cross-section of lenders to develop a plug-and-play solution for the reporting challenges introduced by the FAS 133 requirements.
“Tuttle has always been committed to providing cutting-edge technology and solutions to address the challenges and business needs facing our clients,” said Lindsay Hill, lead product manager for Tuttle’s Secondary Marketing Tools. “By helping lenders comply with FAS 133 regulations, we are streamlining the process and allowing them to focus on their core business.”
About Tuttle Decision Systems
Tuttle Decision Systems Inc. provides integrated technology products and services to the mortgage banking industry. Founded in 1983 as Tuttle & Co., Tuttle Decision Systems is a premier provider of electronic mortgage pricing and pipeline risk-management services. The company provided hedging services for over $110 billion in mortgage loans in 1999. Tuttle Decision Systems is a subsidiary of HomeAdvisor Technologies, Inc., which is owned by Microsoft Corp.
Founded in 1975, Microsoft (Nasdaq
) is the worldwide leader in software, services and Internet technologies for personal and business computing. The company offers a wide range of products and services designed to empower people through great software — any time, any place and on any device.
Microsoft and HomeAdvisor are either registered trademarks or trademarks of Microsoft Corp. in the United States and/or other countries.
Secondary Marketing Tools on the Web is a trademark of Tuttle Decisions Systems Inc.
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