Raymond T. Crosier Joins Mortgage Harmony Corp. as President

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Mortgage Harmony announces that Raymond T. Crosier and two other senior positions are joining the organization.

A mortgage feature like the HarmonyLoan™, that can bring an economic advantage to everyone in the value chain while solving issues that have plagued this process for decades, is truly transformational.

Mortgage Harmony Corp., a financial services technology and engineering company today announced the appointment of Raymond T. Crosier as president. Prior to joining the company, Crosier was president and chief operating officer of financial services provider Online Resources Corporation (NASDAQ:ORCC), a leading provider of web-based financial services to thousands of financial institutions and billers. During his tenure, Online Resources expanded market share and experienced double-digit revenue growth for nine consecutive years. Crosier is also a current Board member and former Chairman of the Electronic Funds Transfer Association.

"The traditional mortgage loan and refinance process in this country is seriously flawed. We believe our product fixes what is wrong with the current system, and can reignite confidence in the mortgage industry," said Keith Kelly, founder and CEO of Mortgage Harmony. "Ray has been the executive lead in multiple companies that have brought change and innovation to the financial services industry. His experience from start-up organizations to larger public companies will help us grow Mortgage Harmony to the benefit of clients, consumers, investors, and employees alike."

"We are long overdue for a change in the mortgage business – especially one that will bring lenders, servicers and investors a higher value for their mortgage asset, while at the same time offering a dramatically better value proposition to the consumer,” said Crosier. “A mortgage feature like the HarmonyLoan™, that can bring an economic advantage to everyone in the value chain while solving issues that have plagued this process for decades, is truly transformational."

The company also announced the appointment of Daniel F. Ritten and Kevin Ziolkowski as senior vice presidents of business development. Ritten and Ziolkowski will work with strategic industry partners to expand distribution and the availability of the HarmonyLoan™ to the mortgage lending community and ultimately, the homebuyer. Ritten, former SVP of sales and client services of Online Resources, has an extensive background in financial services, transaction processing and e-commerce industries. Ziolkowski, a former director with PMI Mortgage Insurance Company, is an accomplished and respected mortgage banking professional with over two decades of experience in the mortgage insurance industry.

About Mortgage Harmony

Mortgage Harmony's core product, the HarmonyLoan™, is a consumer-initiated interest rate-resetting mortgage with a patented recurring compensation structure to the loan officer. It gives the borrower the option of reducing their mortgage interest rate with no closing costs, no appraisal, no credit check, no fees, and most importantly, no hassle: all in minutes at the click of a button on a website. It mitigates mortgage prepayments, improves the borrower’s credit risk profile and brings greater stability and value back to the housing finance industry. It is a mortgage feature that can be applied to a new mortgage or to convert an existing mortgage.

For more information on Mortgage Harmony and the HarmonyLoan, please visit http://www.mortgageharmony.com.

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Debbie Kaufmann
The Collingwood Group
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