Greystone Residential Funding, Inc. Announce Strategic Alliance

October 18, 2006, Middleton, WI - Greystone Residential Funding, Inc. announced the formation of a strategic alliance with PCLender.com, a Honolulu-based provider of front-to-back end mortgage technology solutions. This new alliance combines the power and knowledge of the two companies, bringing together Greystone's mortgage industry experience with the technology expertise of PCLender.com. The result is a comprehensive, yet simple, solution for building and managing mortgage operations.

"PCLender.com's loan origination software (LOS) is distinctive, well-defined and easy to use. We're excited to be able to offer it to our clients," said Dan Rotert, President and Chief Executive Officer of Greystone Residential Funding, Inc. "Through this alliance, we will be able to provide a streamlined front-to-back technology solution with seamless third party vendor integration. Coupled with our mortgage expertise, we can provide a solution for every need a credit union or community bank may have. We are able to support a number of unique business channels utilizing the same system."

PCLender.com's application service provider (ASP) system offers financial institutions a practical alternative to purchasing and implementing complex technology systems themselves. The InHouse Mortgage (IHM) solution enables credit unions and community banks to control more precisely the total cost of technology ownership through a fee-structure based on closed loans. In addition, with data processing performed off-site by a third-party provider, they have more time to concentrate on customer service and their core expertise.

"Our technology is designed for mortgage professionals who demand high quality software in an easy-to-understand format," said Lionel Urban, President of PCLender.com. "We're pleased to have this opportunity to team up with Greystone Residential Funding as they continue to find new ways to help their clients save time and enhance productivity."