Cypress Software Systems Adds New NADA Used Car Guide Trade-In Values
to its Automobile Valuation Interface Module for Mark IV

The new categories, available to Cypress’ Mark IV clients immediately, are designed to help loan officers better assess and define used-vehicle book values for a broader spectrum of vehicles. The additions include “Rough Trade-In” and “Average Trade-In,” which complement the existing “Clean Trade-In,” “Clean Loan” and “Clean Retail” values.

“Cypress’ Automobile Valuation Interface Module provides instant access to the automobile and light truck valuations within Mark IV,” said Steve Croft, senior vice president of Cypress Software Systems. “This eliminates unnecessary data entry by automatically generating and inserting the vehicle’s details and adjusted book value directly into the application entry screen. Users are thereby assured that resulting loan-to-value ratios are correctly derived for underwriting and real-time decisioning.”

In addition to NADA, the Cypress module also supports data from the other leading industry valuation sources.

”These new value categories are designed to provide businesses with more information for better assessing used-vehicle values,” said Mike Stanton, vice president and chief operating officer of NADA Used Car Guide. “For loan officers who have to navigate through an increasingly complex wholesale market, this enhanced information is especially useful. We’re very pleased that Cypress recognizes that and has incorporated our new values into its loan processing software for Mark IV clients.”

Cypress offers a range of products and services that help banks, credit unions and other finance organizations better manage risk and improve lending productivity.

Cypress’ products include Mark IV, a loan software platform that automates the consumer loan application and decisioning process. With Mark IV, service associates electronically input application information while interviewing customers. The software then quickly retrieves credit reports, efficiently reviews sources of repayment, and deploys the institution’s loan policies. The result is a fast, quality loan decision.   

About NADA Used Car Guide
Over a 76-year history, NADA Used Car Guide has earned its reputation as the leading provider of market-reflective vehicle valuation products, services and information to businesses throughout the U.S. and worldwide.  NADA’s editorial team collects and analyzes over one million combined wholesale and retail automotive-related transaction prices per month.  Its guidebooks, auction data, analysis, and data solutions offer automotive, financial, insurance, and government professionals the timely information and reliable solutions they need to make better business decisions.  For more information, visit www.nada.com/b2b

About Cypress Software Systems
Headquartered in North Richland Hills, Texas, USA, Cypress Software Systems LP is a leading developer of automated credit application decision support technology. Cypress provides community and regional banks, finance companies and credit unions with loan application decision and tracking tools equivalent to those used by the largest national lending institutions. Clients, nationwide and in 16 countries, use the company’s flagship products, Mark IV and BizMark, to quickly and consistently process consumer and small commercial loan applications. Cypress Mark IV offers a flexible, risk-based processing approach that includes tracking consumer loan applications from point of entry to point of decision. Cypress’ BizMark loan automation software processes commercial loan requests within a customer relationship management environment. Both products may be licensed in the bundled Cypress Suite and are offered in either an application service provider (ASP) or traditional business model. The company’s product line also includes AppMark, an ASP-only consumer lending solution for community banks with assets of $250 million or less. Web Site: www.go-cypress.com.

Media Contacts
Jeff Green
Michael A. Burns & Associates Inc.
(214) 521-8596
greenj@mbapr.com

Neil McGlone
Michael A. Burns & Associates Inc.
(214) 521-8596
nmcglone@mbapr.com