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Pricing Engines Enhanced, Integrated

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Integration is the name of the game lately when it comes to loan product and pricing engines. Recent alliances with loan search services involved providers of loan origination systems, mortgage compliance services and appraisal management software.

Ellie Mae and Mortech Inc. last month announced the integration of Ellie’s mortgage origination solution, Encompass360, with Mortech’s Marksman product and pricing engine. Encompass users can now access Marksman’s real-time pricing and product eligibility features, the recent news release said.

Lincoln, Neb.-based Mortech is a advertiser.

PriceMyLoan recently announced it also integrated technologies with Pleasanton, Calif.-based Ellie. Encompass users can utilize PriceMyLoan’s underwriting and loan pricing engine from within the LOS.

In other alliances, Costa Mesa, Calif.-based PriceMyLoan and Mortgage Capital Trading, a San Diego-based advisory services firm, completed an “automated loan pipeline hedging and analysis” interface that offers real-time hedge process to minimize risk in pricing, a Dec. 4 statement said. PriceMyLoan also said on Feb. 24 that it integrated Leads360’s lead management software to offer lenders real-time leads that are eligibility and price checked in order to offer consumers instant and targeted sales offers.

Earlier this year, PriceMyLoan announced that it started providing loan pricing technology for Google AdWords Comparison Ads. And recent updates allow PriceMyLoan users have direct access to the Federal Housing Administration’s eligibility and credit scoring platform, TOTAL Scorecard.

Del Mar DataTrac Inc. late last year released an upgraded Loan-Score product integration with DataTrac version 9.1. The San Diego-based company said enhancements to the automated underwriting and pricing solution offer increased visibility and communication between loan officers and underwriters.

Sollen Technologies LLC released an enhanced integration product and pricing platform, ConneX, which can connect with Del Mar’s service. Dallas-based Sollen said its product reduces error, provides additional controls and can also connect with Harland Financial Solutions Interlinq E3 Loan production platform, Calyx Point, AllRegs LoanLibrary and Encompass360.

Brokers who utilize Irvine, Calif.-based Loan-Score Decisioning’s systems can now access a portal for Home Valuation Code of Conduct-compliant appraisal ordering through Global DMS, a Jan. 27 announcement said. The appraisal process management solution at Lansdale, Penn.-based Global, also a advertiser, reportedly helps ensure adherence to FHA’s impending appraisal guidelines.

LoanSifter Inc. has fully integrated with Byte Software to create a product and pricing engine, as announced in an October news release. LoanSifter also offers originators, mortgage bankers and secondary marketing departments access to AllRegs LoanLibrary products and investors when running searches. Eagan, Minn.-based AllRegs is another advertiser.

Earlier this year, Appleton, Wis.-based LoanSifter announced its integration with Del Mar to enable originators and secondary departments to update and sync file information, such as pricing. The system alerts interested parties via e-mail of any changes made.

Loan originators can now get Freddie Mac pricing capabilities within NYLX’s updated LOS, LoanDecisions. Mount Arlington, N.J.-based NYLX said last month it has the only pricing engine in the industry that provides both retained and released pricing for Freddie’s conforming 15- and 30-year fixed-rate products.

Priceweaver claimed in an Oct. 21 statement that its new product and pricing engine has tools never before seen by the lending community. The Tustin, Calif.-based company’s software-as-a-service allows “mortgage bankers to manipulate their pricing in such a manner that they can take advantage of market movements and squeeze out more basis points.

On the retail level, a Web tool provided by the nonprofit Fair Mortgage Collaborative reportedly offers free and private access to mortgage loan costs and real-time loan pricing provided through Laguna Niguel, Calif.-based Mortgage Grader.

The Fair Mortgage Cost Check claims it helps borrowers combat predatory lending using a pricing engine. Loan prospects can research local average mortgage loan rates and closing costs for comparison.

More Pricing Engine Stories:
Pricing Engines Enhance Offerings
As pricing engines are integrated with loan origination systems and point-of-sale systems, they are being packed with compliance and mortgage lead management offerings. Recent updates to product and pricing engines also address secondary market objectives.

Loan Search Technology Proliferates
Prospective customers are being given one month to try out the loan pricing technology of one provider. Another offering enables originators to provide a loan search function on their own Web sites — a feature that generates mortgage leads. A California company claims its pricing technology helps loan officers maintain mortgage compliance.

Loan Pricing Players
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.

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