IMX Announces Promotions, also Record Mortgage Trading Day

Houston, Texas. - January 18, 2002 - IMX, Inc., a leading provider of software for the mortgage industry, said it has named Chad A. Neel its new Executive Vice President and Chief Operating Officer and has appointed Greg G. Austin Senior Vice President, National Sales, and Randall A. Brown as Vice President of Finance and Accounting. The company also announced record transaction volume for its Exchange product.

Mr. Neel previously served as senior vice president and chief administrative officer for the company.  Prior to joining IMX in 1999, Mr. Neel served as vice president of The Money Store.  Following his early career in the mortgage banking industry, Mr. Austin joined IMX in 1997.  Mr. Brown is a CPA, and served most recently as vice president at First Union Home Equity. 

"I am excited about these recent changes within our management team," said Richard Wilkes, president and CEO of IMX.  "This is an exciting time for IMX as we build momentum with our private label products and continue to see growth in our Exchange business."  Turning over more responsibilities to Mr. Neel will allow Mr. Wilkes to spend more time focusing on business development and strategic partnerships. 

IMX also noted that 2002 is off to another record start for its Exchange product, and has established a new single day transaction record, with $32.5 million in loans exchanged between mortgage lenders and brokers on January 14.  Wilkes added, "The Exchange product is built to price 400 loans per minute, and it can accommodate large volumes of loans very efficiently.  We are seeing the benefit of years of product improvements and client adoption, and now have a product that operates almost "hands-free" with very little involvement by IMX personnel.”  As the company stated in November, the IMX Exchange product is a profit center for the company.  The IMX Exchange was launched in October 1997 and has posted well over $15 billion of loans for sale by mortgage brokers to mortgage lenders.

About IMX, Inc.

IMX, Inc., based in Houston, Texas, is a leading provider of software solutions for the mortgage industry. IMX offers a comprehensive suite of workflow tools that enable mortgage lenders and originators to communicate and conduct business quickly and efficiently, online. All the company’s products deliver real-time, fully-adjusted pricing to any user with browser access.

IMX is dedicated to helping mortgage professionals apply the efficiencies of Internet technology to their already-existing daily business processes. IMX's innovative and patented pricing technology delivers unmatched product discovery for brokers and retail branches, and advanced web-enabled distribution channels for lenders. For more information about IMX, please visit www.imx.com or call (800) 401-4639.

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