Mortgage brokers and wholesale lenders alike are being courted by loan pricing services. Two loan program search engines have added lender guidelines to their offerings, while another service incorporated recent changes to the Real Estate Settlement Procedures Act.
Loan originators who utilize Sollen Technologies’s product and pricing Web portal now have integrated online access to guidelines for 2,000 loan products from 73 investors as a result of an alliance with AllRegs, a Feb. 19 announcement said. One Texas mortgage broker was quoted as saying that the integration provides a single user-friendly tool that saves time and money while preventing selection errors.
AllRegs, a MortgageDaily.com advertiser, said last month that it teamed up with Mortech Inc. to offer Leadmark, which reportedly provides best execution pricing on loan programs from the top wholesale lenders.
Also last month, Mortech said its Marksman offering now includes real-time investor rate status. Marksman already included pricing, rate notification and guidelines.
Mortgage Spirit recently announced that it nailed the Aspen Mortgage Group as a customer. The automated program and pricing engine provides live rate information, a Web-based loan application and other critical mortgage functions.
“The solution includes all RESPA reform considerations, maximizes the profitability of each loan and enables Aspen Mortgage Group’s loan officers to better manage the origination process in order to make loans more saleable in the secondary market,” the announcement said.
LoanSifter is promoting its version 3.0, which it says enhances navigation. The Little Chute, Wis.-based firm claims it has the largest database of investors with custom pricing, while it offers real-timer repricing and triggers of entire portfolios.
In November, LoanSifter was added as an interface to Byte Software’s loan origination system, a news release said. At the time, the service included 120 correspondent and wholesale investors.
United Fidelity Funding Corp. has signed on as a customer of Loan-Score Decisioning Systems, a March 20 press release said. The wholesale lender is integrating the system into its back-office processing and fulfillment platform and hopes to improve its ability to communicate. The service includes data population as well as lock request submittal, real-time loan status and conditions management between sales staff, underwriters and processors.
United Fidelity, which hopes to have originated $1 billion by the end of this year, explained in the release that competing applications offered less decisioning capability, while Loan-Score’s technology enabled them to go “way beyond what our competitors offer to make us a preeminent lender of choice for investors, warehouse lenders and originators.”
