Corporate Profile

Cipher Data Resources, Inc., incorporated in 1997, was created to develop and market cash-flow analysis software primarily to the lending and credit industries. Cipher1 is designed for use by companies that handle or rely upon tax return cash flow analysis including FNMA, FHLMC, mortgage bankers and, brokers, commercial banks, credit unions, contract underwriters, savings & loans, mortgage insurance companies and, companies that securitize mortgage loan portfolios.

Improper and incomplete cash-flow analysis is a key factor in reducing loan quality and is a major contributor to loan losses. Cipher1 increases the quality and efficiency of the underwriting process, thereby reducing loan losses and increasing the value of loans sold in the secondary market. Cipher1's intuitive cash flow model allows lenders to increase productivity and reduce operating costs.

The founders of Cipher1, Stephen W. Bristol and Stephen R. Mosher, have a combined, fifty plus years of experience in multiple areas of the mortgage and real estate industries. Their firsthand knowledge and understanding of the challenges faced by mortgage professionals who process and analyze complicated tax returns is the driving force behind the development and enhancement of Cipher1. After attempting to use existing cash flow analysis tools that were either analytically incomplete or geared toward users with in-depth knowledge of tax returns, Messrs. Bristol and Mosher developed their own system. Cipher1 - It is a simple, economical and accurate underwriting tool that just about anyone can use to generate cash-flow analysis reports.

Cipher1 has been designed to meet Fannie Mae and Freddie Mac analytical standards. In addition to providing accurate cash flow reports, Cipher1 automatically populates Fannie Mae's 1084 Cash Flow Analysis form. Freddie Mac reviewed Cipher1 and deemed it "an acceptable tool to assist Seller/Servicers in meeting the requirements of Chapter 37 of Freddie Mac's Single-Family Seller Servicer Guide for income analysis of self-employed borrowers."

In April 2005 Cipher Data Resources added 4506-T Request for Transcript of Tax returns service to its business menu, helping lenders and attorneys with validation of Federal Income Tax Returns. Cipher's 4506-T processing service ensures that the personal and business returns submitted are actually the ones filed with the IRS.


Cipher Data Resources, Inc.
1227 Santiago Drive
Newport Beach, CA 92660
Fax: 949-305-9001

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