Mortgage Daily Logo
mortgage news from industry experts

Pricing Technology Aids Primary, Secondary Markets

Pricing Technology Aids Primary, Secondary Markets

A look at Web site rate services

December 19, 2005

By PAULA PARISOT

photo of Paula Parisot
Paula Parisot
One mortgage technology company claims its suite of office programs does the work of four secondary marketing employees.

Sollen Technologies provides Internet-based application services for product, pricing, and loan resale procedures, the company says. Its online loan search application, Lender Online, can reportedly be used for product validation, pricing, registration, locking and loan status reporting for wholesale, retail, and correspondent lenders.

“It allows secondary to sell the loan under the best of conditions,” Michel Van Hee, CEO of Sollen, told MortgageDaily.com. “There are multiple product searches they can do, and when they do, they have all the guidelines at their fingertips.”

The suite of programs include a Web-based pricing engine and loan product development solution. The Dallas-based company said the program is user-friendly and allows for “virtually any guideline, rate or price adjustment to be delivered in multiple formats through multiple distribution channels.”

Another product allows lenders to construct rate sheets according to the best pricing, product, rate and lock period available, according to Sollen — which touts its wares at www.Sollen.com.

“It is a growth engine for each customer,” Van Hee commented. “It allows people to make educated decisions; it’s a time and cost-saving technology tool.”

San Jose, Calif.-based Myers Internet, located online at www.Myers.com, also offers a mortgage loan product and pricing engine in both a retail and a wholesale version.

Myers CEO Warren Myer told MortgageDaily.com the wholesale version is used to search wholesale pricing and has the capability to post retail pricing on the client’s Web site.

“We have the largest community of mortgage brokers,” Myer, a MortgageDaily.com advertiser, said in an emailed statement. “Many of whom use this product to publish retail pricing in either a rate sheet format or a rate search format. The advantage to the broker is that their pricing is posted automatically on their website.”

“In addition, we offer real estate add-ons so that a lender can add MLS property data on their site,” he stated.

And according to its Web site, Seattle, Wash.-based LION, Inc. has a central administrative module that controls a product and pricing search engine, real-time rate locking capabilities, electronic 1003 manager, loan status monitoring, and a broadcast e-mail center. Lion operates on the Web at www.LionChoice.com.


Paula Parisot is a MortgageDaily.com feature reporter and a blogger at CloserBlog.com who has also worked in the mortgage industry.

e-mail Paula at: [email protected]


 

Popular posts

How Long Does It Take to Refinance a Mortgage
How Long Does It Take to Refinance a Mortgage

So, you’re interested in refinancing your mortgage. Maybe you want some extra capital to do that home project you’ve always dreamed of, interest rates are nearing record lows, or you want to start consolidating debt. Regardless of the motivation behind the refinance,...

How Does Refinancing a Mortgage Work
How Does Refinancing a Mortgage Work

A home purchase is considered an investment, and a robust one at that. Savvy owners are constantly looking for new ways to reduce debt, save money, pay less in interest, and ultimately build equity. Refinancing is one way to leverage your investment and do just that....

What Does It Mean to Refinance Your Home
What Does It Mean to Refinance Your Home

You can think of refinancing your mortgage as a debt redo. Essentially, you’ll swap out the existing loan for a new one - ideally with better terms and conditions. Only this time it could help you save money on high mortgage payments, rather than just borrow it....

Setting up the Utilities in My New House
Setting up the Utilities in My New House

All the tedious, time-consuming home closing documents have been signed, sealed, and delivered. Your belongings are packed into what seems like a million boxes and you have a solid plan to haul all your existing furniture to the new place. Just as your boxes and...

When Is My First Mortgage Payment Due?
When Is My First Mortgage Payment Due?

Navigating your way through a brand new mortgage loan can be a difficult task, especially for first time homeowners. After handing over a large sum of money for the down payment and closing costs, it’s important to pay attention to the timing of your first mortgage...

Newsletter

Don’t worry, we don’t spam

calculate your monthly mortgage payment

Related Topics

Helpful Links

Daily mortgage rate trends

Best mortgage lenders

First-time homebuyers programs by state

Loan limits by state

Types of mortgages

APR vs interest rate

Understanding PMI

Related Posts

THE TRUSTED PROVIDER OF ACCURATE RATES AND FINANCIAL INFORMATION