Surge in Foreign Language Interpreting Needs Expected Among Financial Institutions

Language Line Services Prepares for Spike in Demand for Assistance Opened up by
Obama Plan
MONTEREY, Calif.--(Business Wire)--
Language Line Services, the leading provider of interpretation services,
predicts a significant spike in demand for non-English language assistance to
millions of Americans who will apply for or rework their existing loans as a
result of the Obama administration`s new mortgage relief plan. With the package
now signed into law, up to nine million people may be eligible to refinance
their mortgages. Limited-English speakers were among those most affected by
predatory lending practices of the last decade. Banks can now expect many of
their refinancing candidates to require language interpretation services like
those provided by Language Line Services.

Other key elements of the relief plan include driving down mortgage rates and a
tax break for first-time homebuyers. "For many immigrants, home ownership
represents the American dream," said Louis Provenzano, President and Chief
Operating Officer of Language Line Services. "We are excited to help make that
dream a reality in every language across America."

New mortgage applications in the U.S. increased in May as a result of lower
borrowing costs. Using history as an indicator for demand, the number of
requests at Language Line Services grew by more than 50 percent in 2008 after a
series of mortgage rate drops. These requests were mostly for Language
Line®Over-the-Phone Interpretation from the banking industry to assist with
transactions involving home buyers in languages ranging from Arabic to
Vietnamese. Over-the-Phone Interpretation allows institutions to instantly
communicate with their customers via a professional interpreter - through a
three-way conference call - in more than 170 languages.

Through improved communication, language interpretation services help lending
and government organizations save mortgages from foreclosure, increase debt
collection and work out more favorable payment terms for at-risk customers,
regardless of language.

"Language assistance can remove a major roadblock while easing the stress of a
difficult situation for our limited-English speaking mortgage holders and loan
customers," said Melanie Walsh, Vice President of Member Care at Boeing
Employees' Credit Union (BECU). "Working with Language Line Services has been a
seamless integration to help us meet the growing financial needs of a changing
community here in Washington State and to ensure that we provide an equally
positive experience to all our members, regardless of language."

Language Line Services has significantly increased its interpretation workforce
to support the expected growth in outbound, in-language customer service
programs among financial and other organizations affected by the current
economy. Interpreters for this market segment are required by Language Line
Services to complete a specialized Finance Training Program which includes
products and terminology on investment, taxation, and mortgages. In the mortgage
portion of the training, interpreters learn about handling home loan
applications, equity loans, and refinancing, among other loan products.
Glossaries on financial terminology as well as scripts from Language Line
Services` financial service clients are provided as additional study material.

Statistics: Mortgage Crisis and Limited-English Speakers

* There are more than 38 million foreign-born residents and 176 languages spoken
in the United States today. (Source U.S. Census Bureau)
* One out of every 200 home mortgages will be foreclosed upon this year, with
250,000 new families entering into foreclosure every three months. (Source
Mortgage Bankers Association)
* At the end of 2002, Latino households held 88.4% or more of their total net
worth in home equity. (Source: Rakesh Kochhar, The Wealth of Hispanic
Households: 1996 to 2002 at 20 Pew Hispanic Center, 2004)
* Requests for Language Line Services mortgage-related telephone interpreting
grew by 81.2% in 2008 compared with 2003, the last time a major drop in interest
rates took place.
* In April alone, Language Line Services saw an increase of 22.7% over the same
period last year for language assistance amongst its banking and financial
services clients.
* The foreign language most frequently requested by financial institutions for
refinancing is Spanish.

About Language Line Services

Language Line Services, the global leader in telephone interpreting and language
solutions, serves clients in government, health care, telecom, financial
services, insurance and many other industries by quickly connecting them to
their customers, patients and sales prospects in over 170 spoken languages and
American sign language. Growth of the language interpreting industry has soared
with increased immigration and government regulatory policies mandating that
organizations provide services to limited English speakers in their own
languages. Language Line Services is recognized as a trusted partner to
thousands of clients throughout the United States, Canada and the United
Kingdom, providing access to the industry's fastest language interpreting
service at highly competitive rates. For more information about Language Line
Services' suite of telephone and video interpreting, document translation,
interactive software-based translation, interpreter training and certification
programs, please call +1 (800) 752-6096 or visit www.languageline.com.

For Language Line Services
Dale Hansman, 831-648-7436
dhansman@languageline.com
or
Christine de la Huerta, 305-807-3054
Christine.delaHuerta@rbbpr.com

Copyright Business Wire 2009