Press Release:
May 17, 2007

Compass Analytics Releases Loan-Level Whole Loan Trading and Non-Agency Valuation Analytics – Now Also Available as a Web-Based Solution

San Francisco, CA – May 17, 2007– Compass Analytics, LLC has released its CompassPoint™ Version 1.3.0, which introduces integrated tools to enable seamless whole loan and non-agency loan valuations and risk management.

Compass will also begin offering CompassPoint™ as a hosted (ASP) solution that is accessible through standard web browsers. Version 1.3.0 highlights include loan-level integration to Standard & Poor’s LEVELS® and SPIRETM models, loan-level structured cash flow valuations and loan-level cash flow model adjustors. In addition, the models are supported by significant enhancements to CompassPoint™ file import tools.

"Version 1.3.0 will enable the next generation of loan-level granularity and modeling," predicts Rob Kessel, managing partner of Compass Analytics. "With integrated file mapping, loan-level credit rating agency credit enhancement, including optimized analysis of over-collateralized (OC) structures, structured cash flows, and complete flexibility in loan-level cash flow model adjustors, traders, investors and secondary marketing managers will be able to bring valuation, duration and convexity down to the loan level.”

Kessel also expects CompassPoint™ to be used in a variety of ways to improve secondary execution and pipeline management. “With Version 1.3.0, CompassPoint™ clients can now perform agency/non-agency best execution on agency product, specified pool best execution and derive optimal MI coverage on higher LTV non-agency product. 1.3.0 users will also be able derive best execution between six-pack and OC securitization structures, perform rate sheet price and rate adjustment validation, and calculate profit-and-loss impact of changes in credit features in the pipeline - all on the loan level.”

The new web-based implementation is a response to market demand. “Many traders and analysts want to have more analytical tools at their fingertips without complicated, timely implementation project plans centered on IT departments,” Kessel explained. Our ASP solution allows traders and investors to first sample, then implement CompassPoint™ without having to install anything on their desktop or servers.”

Compass will unveil Version 1.3.0 at the Mortgage Bankers Association’s 2007 National Secondary Marketing Conference.

Compass Analytics provides valuation and interest rate risk management solutions to mortgage capital markets participants. Compass Analytics licenses its software CompassPoint™ to mortgage traders, investors and secondary marketing departments in order to provide unparalleled analysis in previously unattainable speed. CompassPoint’s™ loan-level models, integrated file mapping, market and credit inputs, whole loan and structured cash flow analysis and reporting capabilities give CompassPoint™ users the competitive advantage in evaluating all mortgage collateral. In addition to licensing CompassPoint™, Compass uses CompassPoint™ internally to provide third party valuations as well as outsource hedge execution services, both of which draw on Compass’ considerable expertise and access to market color. For more information about Compass Analytics, please visit its website at http://www.compass-analytics.com or contact Kellie Kramer at 415-925-2810 or kkramer@compass-analytics.com.

For more information about Compass Analytics, please visit its website at http://www.compass-analytics.com or email kkramer@compass-analytics.com.