Seamless Link to Existing Front End Processing and Fraud Systems Formally Closes the Loop on Fraud Deterrence in the Mortgage Industry

Mountain Lakes, NJ – December 20, 2006 –New Jersey based Ciercus Systems, Ltd., announced that it has developed system enhancements for its proprietary Settlement ProTM closing fraud deterrent that will allow seamless interaction with existing systems. While retaining the ability to act as a stand-alone system for those who want it, the new enhancement will permit Settlement ProTM to stand behind and support front end systems already operating at mortgage lenders. Thus mortgage industry clients can request that closing data be shared and also validated with front-end processing and fraud guard systems. With this integration option, all data will be filtered, validated and stored in one place, at the lender’s base of operations. Furthermore key closing documents, which under the old system were available in real time but stored off-site, can be attached to existing client files, eliminating the need to access the information from a separate storage source.

Ciercus continues to develop enhancements as it works toward the development of a universally accepted closing fraud deterrent system that will close the loop on mortgage industry fraud protection software. At this time Ciercus remains the only company that has created a working system solely focused on the closing process. Together with Professional Assurance, a settlement agent certification process, and Mortgage QC Consulting, a mortgage fraud loss mitigation service, Ciercus offers a three-tiered approach to mortgage industry fraud. Last year the industry reported $1 Billion in losses from fraud, a number that the FBI expects will grow to higher levels by year’s end.

Andrew Liput, CEO of Ciercus Systems, Ltd., stated, “These new enhancements, part of our ongoing research and development efforts to fight closing fraud, will make Settlement ProTM a more universally accepted system to uncover fraud at the closing table and hold settlement agents accountable. Using universal code language and translators, we can now share our data with existing systems so that a lender can enjoy protection from loan origination through closing.”

About Ciercus Systems:

Ciercus Systems, Ltd. is based in Mountain Lakes, New Jersey and is an innovator in closing fraud technology and related services. The company can be reached toll free at 1-888-4Ciercus or at sales@ciercus.com.

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SettlementPro TM Closing Fraud System Makes Successful Debut

Ciercus Systems, which developed proprietary Internet based software to combat mortgage closing fraud, made its debut this month to universally positive industry reviews.

Mountain Lakes, NJ (PRWEB) August 30, 2006 -- SettlementPro TM, the mortgage industry's first Internet- based software system to address mortgage closing fraud, debuted this month and has already had a positive affect on the industry.

The proprietary system developed by Mountain Lakes, NJ based Ciercus Systems, Ltd., combines mortgage closing data collection and warehousing with closing agent registration and real time access to executed closing documents to help close the loop on fraud fighting technology, which previously only addressed front end origination issues.

The system launch has been aided by positive reviews in industry publications such as Mortgage Banking Magazine, and Secondary Marketing Executive Journal. News about the new product has also been carried across the Internet on industry blogs, including the widely read Rachel Dollar Mortgage Fraud Blog, and the website for ALTA--The American Land Title Association.

Earlier this month Ciercus announced its new Closing Agent Certification program, through it's subsidiary business, Professional Assurance. Since then, dozens of real estate professionals have registered with the system to obtain certification status, establishing for themselves, and interested lenders, their qualifications as closing agents.

One New York attorney who has used the system, Andrew Hallajian, Esq., has said SettlementPro "is an idea whose time has come." Hallajian added, "I find it hard to believe that something like this has not been in use already. The closing ceremony in real estate transactions hasn’t changed for years, hasn’t kept up with technological advances. I can see the merits of this System and believe it will change the closing industry for the better."

Susan Rienstra, with American Title & Settlement in New Jersey, a Chicago Title agent, found the system "incredibly easy and quick to navigate, and very useful."

Ciercus executives have also recently previewed the system for several national lenders and warehouse banks, and are in discussions with a major industry fraud fighting company to partner together to enhance the reach of SettlementPro in the marketplace.

For more information about Ciercus Systems, Ltd. and SettlementPro, or to become a certified closing agent through Professional Assurance, visit www.ciercus.com, or call toll free 1-888-4Ciercus.

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