News
March 28, 2006

WSFS BANK SELECTS METAVANTE’S MORTGAGE LOAN ORIGINATION AND PROCESSING FROM GHR SYSTEMS

Fully automated mortgage technology saves time and increases efficiencies

WAYNE, Pa., Mar. 28, 2006 – Metavante Corporation, the financial technology subsidiary of Marshall & Ilsley Corporation (NYSE:MI), today announced that WSFS Bank has extended its relationship with Metavante by licensing its Web-based Loan Origination Studio (LOS), Point-of-Sale (POS) origination systems for Consumer Direct and Wholesale Origination, the Enterprise Reporting System and its integrated third-party services platform, Loanportal.

WSFS Bank, a Metavante client, selected both the online POS and LOS solutions for origination, processing and closing from Metavante’s GHR Systems, Inc. WSFS will use the POS solutions for its retail and wholesale mortgage originations, and loan applications will be processed through the LOS platform. GHR’s LOS provides significant increases in efficiency for lenders by combining a single, central database with comprehensive loan processing capabilities, including business process management automation, service ordering and the ease of moving data and documents from the point-of-sale to closing.

"We selected GHR because their solutions will provide us with the functionality and scalability that we need to achieve our corporate goals,” said Deborah T. Roberts, senior vice-president of Consumer Lending at WSFS Bank. “GHR’s technology will help us to automate our entire mortgage operation and significantly reduce processing time.”

With GHR’s Consumer Direct Website, WSFS and its retail banking customers will have access to a fully-secured, private-labeled website that provides self-service mortgage origination capabilities to consumers directly via the Internet. Consumer Direct combines customer support tools, on-site resources and relationship management services that help lenders reduce origination costs while improving customer satisfaction and retention.

GHR’s Wholesale Origination Website is a comprehensive, interactive and secure, broker-centric system designed to provide self-service for the WSFS wholesale broker community. Brokers can efficiently submit and manage an entire pipeline of loans while viewing real-time loan status information, conditions and loan notes directly from GHR’s LOS product.

The Enterprise Reporting System (ERS) solution extracts data from GHR and non-GHR systems to instantly create dynamic, customized reports with unlimited research capabilities and graphical presentation. GHR’s ERS will enable WSFS to access, filter and modify the layout of information in real-time, providing managers with a powerful and flexible reporting capability.

Loanportal is GHR’s centralized web-based transaction gateway that offers WSFS Bank access to third-party services such as credit reports, flood certifications, title orders, Automated Property Valuations (AVM) and full appraisals, as well as secondary market investor automated underwriting systems.

“Being able to provide a comprehensive LOS that is integrated with Metavante’s Integrated Banking system will provide WSFS, as well as its consumer and broker customers with considerable operational efficiencies,” said Cy Brinn, president of GHR Systems. “We look forward to being a vital part of the company’s continued growth.”

About WSFS Bank
WSFS Financial Corporation is a $2.7 billion financial services company. Its principal subsidiary, Wilmington Savings Fund Society, FSB, operates 25 retail banking offices in all three counties in Delaware, as well as Chester and Delaware Counties in Pennsylvania. Other operating subsidiaries include WSFS Reit, Inc., WSFS Investment Group, Inc. and Montchanin Capital Management, Inc. For more information, please visit the Bank’s website at www.wsfsbank.com.

About Metavante
Metavante Corporation provides loan origination, processing and closing systems for the residential mortgage, consumer and small business lending industries through GHR Systems, Inc., a Metavante company. GHR's systems are used by large, mid-sized, and emerging lenders to better market, sell and close loans through all distribution channels, including wholesale, retail, consumer direct and correspondent. Four of the Top 10 U.S. Mortgage lenders use GHR's systems. GHR is a Microsoft Gold Certified Software Development Partner. For more information, please visit www.ghrsystems.com. Metavante Corporation is redefining banking and payments to financial services firms and businesses worldwide. Metavante products and services drive account processing for deposit, loan and trust systems, image-based and conventional check processing, electronic funds transfer, consumer healthcare payments, and electronic presentment and payment. Headquartered in Milwaukee, Metavante (www.metavante.com) is wholly owned by Marshall & Ilsley Corporation (NYSE: MI).

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