Press Release

FOR IMMEDIATE RELEASE
Thursday, March 22, 2007

Mortgage Insurer MGIC to use PRBC Reports^sm to
Automate Approval Decisions

Consumers with 'thin' or no traditional credit histories
now empowered to qualify for prime mortgages

Washington, D.C. - PRBC, America's Alternative Credit Bureau, announced today that mortgage insurer MGIC agrees to use PRBC Reports with Bill Payment Score (BPS) to automate approval decisions as part of a PRBC alternative credit scoring pilot initiative.

"Consumers who once thought that they were ineligible for a prime mortgage because they have not used debt to establish a traditional credit score, can now qualify themselves for a prime Fannie Mae or Freddie Mac loan offered through most major lenders by establishing a consumer credit file with PRBC," said Michael Nathans, PRBC founder and Chairman. "The FHA, Fannie Mae, Freddie Mac, and mortgage insurers have long accepted rental and other commonly recurring monthly bill payments such as utilities, telecom, cable, auto, insurance, and even deposits to a savings account to establish the credit reputations of manually underwritten applicants. However, it was often easier for brokers or lenders to skip the work necessary to compile and verify applicants' rental and bill payment histories, and instead, steer them to higher priced sub-prime loans."

In partnership with the National Credit Reporting Association, PRBC streamlines the process of documenting an applicant's rental and bill payment history for originators using verification procedures that are acceptable to the FHA, Fannie Mae, Freddie Mac, and MGIC. MGIC has agreed to use electronically delivered PRBC Reports with BPS to automate approval and pricing decisions.

"An estimated 50 million consumers and approximately 8% of mortgage applicants have 'thin' or no traditional credit histories," said PRBC CEO, Corey Stone. "PRBC gives mortgage lenders a simpler, cost-effective way to tap this market, promote themselves, and build their pipeline of future applicants. Lenders who encourage prospective borrowers with 'thin' or no traditional credit histories to build a PRBC file will position themselves to be first in line when these consumers become loan-ready."

PRBC views acceptance of its Reports in the mortgage industry as a further step toward use of the company's electronically compiled alternative credit trade line data in other lending verticals, such as auto loans and credit cards, where automated underwriting decisions are the norm.

"Consumers with 'thin' and no traditional credit histories who choose PRBC to build a consumer credit file in advance of applying for any loan or service, have the right under the Equal Credit Opportunity Act to have their PRBC Report considered alongside traditional credit reports. As more lenders factor bill payment histories into their lending decisions, these consumers will have more mainstream loan products available to them and the opportunity to avoid expensive sub-prime loans," added Nathans.

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About MGIC

MGIC, the principal subsidiary of MGIC Investment Corporation, is the nation's leading provider of private mortgage insurance coverage with $176.5 billion primary insurance in force covering 1.3 million mortgages as of December 31, 2006. MGIC serves approximately 5,000 lenders with locations across the country and in Puerto Rico, helping families achieve homeownership sooner by making affordable low-down-payment mortgages a reality.

About PRBC

PRBC is a consumer reporting agency that collects, stores, scores, and reports bill payment data for "permissible purposes" under the Fair Credit Reporting Act. It is the first credit bureau to give prospective borrowers the tools to demonstrate their creditworthiness without the need to go into debt. In addition to receiving payment data from creditors and financial institutions' bill payment services, PRBC has partnered with the National Credit Reporting Association to verify trade line accounts and up to three years worth of prior payments that consumers themselves can report directly to PRBC.

Lenders can purchase a PRBC Report depicting a consumer's bill payment history either on a standalone basis, or merged with Equifax, Experian, and TransUnion credit reports. Each PRBC Report is accompanied by a PRBC Bill Payment Score (BPS). A PRBC Report may also be used as a "non-traditional mortgage credit report" (NTMCR) that meets Fannie Mae's, Freddie Mac's, and FHA's standards for documenting creditworthiness. PRBC does not charge consumers a fee to enroll in the service or to view their own payment data at any time. PRBC advocates that Payment Reporting Builds Credit and can be accessed at www.PRBC.com