WIELD  THE LATEST TECHNOLOGY Just as we looked at the overall mortgage industry and saw opportunities that were being missed, we studied the capabilities of Web-based technologies  and saw a phenomenal way to grow our business  with more consistent, reliable and expedient service. We knew that by automating loan originations, we could introduce an electronic process that opens up markets nationwide that previously weren’t available to us. The perfect system would reduce our risks through consistency, cut costs via efficiencies, prevent mistakes with streamlining and free our thinking for more innovative and lucrative products. After months of development and testing, we introduced Impac Direct Access System for Lending (“IDASL”) in the first quarter of 2000. An interactive, Internet-based system, IDASL is designed to be user friendly, to deliver consistent underwriting decisions and to reduce the entire process of submitting, underwriting and pricing a mortgage loan from up  to several days to a few minutes. With the enhance- ments we made during 2000, IDASL enables our customers to pre-qualify borrowers for various loan programs, receive automated loan approval decisions and obtain rates and pricing. USING ITS IDASL (PRONOUNCED, “I DAZZLE”) TECHNOLOGY, IMPAC IS COMPLETING TRANSACTIONS WITH CUSTOMERS  IN WIDER GEOGRAPHIC MARKETS THAN IT COULD REACH  BEFORE. THE INTERACTIVE, INTERNET-BASED TOOL  ENABLES CUSTOMERS TO SECURE LOAN APPROVALS  ELECTRONICALLY IN LESS THAN A MINUTE. 17. Chapter 3: Wield The Latest Technology