Connotate Intelligent Software Agents Provide Enterprise Solution that Mitigates Financial Risk and Amplifies Employee Productivity at MassHousing    

Agents Provide Data Extraction, Aggregation and Alerts for MassHousing Contract Administration Process

NEW BRUNSWICK, NJ – October 1, 2008 - (BUSINESS WIRE)--Connotate, the leading provider of solutions, which transform information from the Web and enterprise into user-empowered on-demand applications and actionable intelligence, today announced that MassHousing has migrated to the Agent Community GEN2™ platform. MassHousing began using Connotate’s Intelligent Software Agents™ in 2006 to keep in compliance with HUD contract terms.

MassHousing is the leading provider of affordable housing in Massachusetts. Its largest business area, the Rental Management Division, is leveraging Connotate’s Intelligent Agent technology to automate compliance monitoring and reporting details provided by the U.S. Department of Housing and Urban Development (HUD) to process hundreds of contracts each month.

“Connotate Agents play a vital role in our administration and compliance efforts of Section 8 contracts,” says Jim McCaughey, IT manager. “Agents monitor the hundreds of deep web pages where compliance bindings can change on the HUD website. Since deploying Connotate’s Agents, we’ve never missed a contract milestone and we’ve transformed a highly manual process into an automated process, freeing up staff resources to take on more critical roles.”

MassHousing administers more than 600 Section 8 contracts each month. In using Intelligent Software Agents, compliance term changes posted deep within the HUD website are extracted and presented in a single report for the rental housing business staff, subsidiary administrators and contract administration team. Providing a single, structured data source to reference reduces risk and amplifies staff production enabling quick processing of time-sensitive voucher payments which, if missed, would result in substantial financial penalty.

Connotate CEO Bruce Molloy, notes that a number of government agencies use Connotate Software Agents for agile information access, intelligence, analysis and alerts. “The reduced risk and streamlined contract administration process at MassHousing is just one example of how Intelligent Agents can interact with data sources to discern high-value information, provide personalized analysis and alerts 24/7.”

With the full migration to Agent Community GEN2 complete, MassHousing plans to expand deployment of Connotate Intelligent Software Agents further across the organization. For example, as a quasi state agency, MassHousing’s finance division sells bonds into the market to individual and corporate investors. With thresholds determined, Connotate agents can act as sensors and provide alerting when prescribed conditions are encountered in the market 24/7. This will provide MassHousing’s finance division with situational awareness when making strategic decisions about their bonds or deciding other actions to take.

About MassHousing

The Massachusetts Housing Finance Agency, now doing business as MassHousing, is the leading provider of affordable housing in Massachusetts. Since 1970, MassHousing has provided more than $10.6 billion in financing for more than 97,000 units of mixed-income rental housing and more than 54,000 mortgage loans for homeowners. For more information, visit the MassHousing website at http://www.masshousing.com.