M&T Mortgage Corp. Taps Beanstalk Networks to Create Private-Labeled OpenClose MTG(R) Broker Portal

Beanstalk Networks(TM) announcedtoday at the MBA's 92nd Annual Convention & Expo that it has signed a four-year agreement with M&T Mortgage Corporation, the residential mortgage lendingsubsidiary of M&T Bank (NYSE: MTB), Buffalo, N.Y., to create and host aprivate-labeled OpenClose MTG(R) online broker portal. The OpenClose MTGsoftware will allow M&T's 8,000 approved brokers to upload loan files, digitaldocuments and faxes to centralized borrower-specific loan folders, where userscan auto populate M&T origination documents, pull credit and check fundingstatus real-time all through a standard Web browser. OpenClose MTG interfaces with a variety of third-party vendors. Users canupload different loan file formats, including Calyx POINT(R), DU(R) 3.0 and3.2, and run them through third-party vendors, including Fannie Mae(TM) andFreddie Mac(TM), as well as many credit agencies. All files and findings arethen stored in centralized, Web-based loan folders. The OpenClose MTG portalwill also provide a seamless interface to M&T's loan origination software,Fiserv's UniFi(R) PRO. Those interested in becoming an approved broker of M&T MortgageCorporation should contact Tod Edwards at (717) 399-6660 or Julie Slack at(717) 399-7084. About M&T Mortgage and M&T Bank M&T Mortgage Corporation currently services a mortgage portfolio thatexceeds $16.4 billion and over 170,000 customers nationwide. M&T MortgageCorporation lends through a Retail originations network, national Wholesaleand Correspondent Lending Programs. M&T Mortgage Corporation is a subsidiaryof M&T Bank, one of the country's most highly regarded regional banks. Foundedmore than 145 years ago in Western New York, where it is headquartered, M&TBank Corporation had over $52 billion in assets as of December 31, 2004 and isone of the 20 largest bank holding companies in the U.S. M&T Bank customershave convenient access to over 650 branches and 1,500 ATMs throughout NewYork, Maryland, Pennsylvania, Washington, D.C., Virginia, West Virginia andDelaware. About OpenClose MTG and Beanstalk Networks OpenClose MTG's add-as-you-go software design allows clients to choose andpay for only the modules required to run their business today with thescalability to add software and user licenses as needed. OpenClose MTG's coresystem includes loan origination and pipeline management software.OpenClose MTG is the flagship product of Beanstalk Networks( http://www.beanstalknetworks.com ), a software developer and data centerdedicated to servicing the financial services industry. For additionalinformation about OpenClose MTG or Beanstalk Networks, contact Frank Bocchinoat (561) 804-4560.

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