Citicorp Mortgage, Inc. adopts Applied Financial Technology, Inc.’s Prepayment Model

San Francisco, January 2000 -- Citicorp Mortgage, Inc., located in St. Louis, Missouri, is one of the country’s largest mortgage banking firms and joins other leading mortgage banking firms that recently added Applied Financial Technology’s model to their analytic systems.

Michael Bykhovsky, CEO of Applied Financial Technology and a veteran of Wall Street, has spent more than 10 years developing prepayment models. He said, “Frequently we hear of mortgage servicers experiencing significant impairment surprises and hedge re-evaluations. By understanding and more accurately projecting the prepayment behavior of a portfolio, a servicer can better match assets with hedges, reduce impairment risk and deploy cross-selling/refinance solicitation defensive strategies.”

Applied Financial Technology, a privately held company headquartered in San Francisco, California, counts a number of leading financial institutions and regional investment banks and institutional investors among its clients.