Linked to our internal systems, our customers can check loan status and conditions as well as lock-in loan rates. Our customers enjoy 24 hour access and can turn to the Internet for program updates, up-to- the-minute rates, underwriting dispositions and purchase confirmations. In 2000, over 70 percent  of IFC’s customers used the system accounting for over 21,000 full applications being reviewed and processed. This equates to a total of $3.0 billion worth of loans with an average approval ratio of 58%. We expect that by mid-year 2001, the IDASL System also will be reconfigured to provide fraud detection and electronic property appraisals, which will address the full mortgage application process. With the com- plete implementation of IDASL, the Company antici- pates improved margins, lower cost of originations and increased profitability. More importantly, IDASL will also allow the Company to transcend its normal course of business operations and move closer to the borrower with minimal future capital investment  while maintaining centralization, a key factor in our operating strategy. Among its benefits, the proprietary IDASL may  serve as a significant barrier to entry. New entrants may not have the capital, industry history or sector expertise to build such a system themselves. The program is the driver that will expand and grow  our loan volume, not to mention our business model. 18. Chapter 3: Wield The Latest Technology – Chapter 4  – MAINTAIN  CENTRALIZATION