LoanPerformance Selects MicroStrategy for Improved Analysis and Reporting of the Mortgage Industry Data Trends
MicroStrategy Chosen Over Cognos and Business Objects
McLEAN, Va., (January 05, 2004) –
MicroStrategy® Incorporated (NASDAQ: MSTR), a leading worldwide provider of business intelligence software, today announced that LoanPerformance has selected the MicroStrategy Business Intelligence Platform(TM) for improved analysis and reporting of mortgage industry data trends. LoanPerformance (formerly MIC) is a San Francisco-based research and analytics company that provides data, software, and analytics to the mortgage industry. MicroStrategy was selected over Cognos and Business Objects.
“We selected MicroStrategy because our rapidly growing databases became too large for our proprietary systems to efficiently process,” said Mark Carrington, Director, Product Management, LoanPerformance. “MicroStrategy’s business intelligence platform has the scalability and flexibility that we needed to accommodate our expanding database, and MicroStrategy’s robust reporting capabilities enable our clients to build unique reports to fit their needs.”
Through LoanPerformance’s solution, TrueStandings, MicroStrategy is providing comprehensive historical mortgage data in a new, fully secured Web-enabled user interface. Mortgage analysts are running reports on mortgage performance, origination analysis, executive summaries, and market analysis against a 3.5-terabyte SQL Server data warehouse. The MicroStrategy-based application provides LoanPerformance’s clients with the ability to add loan attributes, metrics and filters to any report, and to drill from high level reporting to an individual loan.
“MicroStrategy’s robust architecture provides a true enterprise reporting solution,” said MicroStrategy’s COO Sanju K. Bansal. “Its ease-of-use, flexibility, Web-based interface, and scalability for large databases offer LoanPerformance a powerful reporting solution to help LoanPerformance meet the challenges posed by today’s competitive environment.”
About LoanPerformance
LoanPerformance is a San Francisco-based research and analytics firm providing information and analytical capabilities to the mortgage industry.
Formed in consortium with the nation’s largest banks and secondary market players, the LoanPerformance databases track the payment performance on more than 70% of the outstanding mortgages in the U.S. on prime, subprime and non-agency securitized market.
LoanPerformance aggregates the data to create a market tracking the delinquencies, foreclosures and prepayments on a national, regional, state and metropolitan level.
About MicroStrategy Incorporated
Founded in 1989, MicroStrategy is a worldwide leader in the increasingly critical business intelligence software market. Leading Fortune 2000 companies are integrating MicroStrategy’s industrial-strength software into virtually all facets of their businesses. The MicroStrategy Business Intelligence Platform(TM) distills vast amounts of data into vital, probing insight to help drive cost-efficiency, productivity, customer relations and revenue-generation. MicroStrategy offers exceptional capabilities — excellent scalability, powerful analytics, user-friendly query and reporting features and an outstanding, easy-to-use Web interface. Top companies are using MicroStrategy to cost-effectively harness large, multi-terabyte databases; empower thousands of employees at all operational levels; and extend the benefits of business intelligence enterprise-wide and beyond to customers, partners and suppliers.
MicroStrategy has over 2,300 enterprise-class customers, including General Motors, Best Buy, Lowe’s Home Improvement Warehouse, Yahoo!, Visa International, Wells Fargo, Telecom Italia, AT&T Wireless Group and Aventis. MicroStrategy also has relationships with over 500 systems integrators and application development and platform partners, including IBM, PeopleSoft, Sun and Hewlett-Packard. MicroStrategy is listed on Nasdaq under the symbol MSTR. For more information or to purchase or demo MicroStrategy’s software, visit MicroStrategy’s Web site at www.microstrategy.com.
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Marc Brailov
MicroStrategy Incorporated
(703) 770-1670
mbrailov@microstrategy.com
Source: MicroStrategy