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Pricing Engines Enhance Offerings

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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.

A Sept. 28 news release indicated that LoanSifter’s integrated online offering now enables direct access to the Disclosure Manager solution from Wolters Kluwer Financial Services. LoanSifter said users of its integrated 1003 application and product, pricing and eligibility engine package can generate initial disclosures through Wolters. The disclosures can be e-mailed for e-signatures.

“Financial institutions are able to deliver accurate real-time quotes and streamline the application process, while reducing mistakes from within their existing Web sites,” LoanSifter President Bruce Backer said in the statement. “This key integration … closes the loop by automatically delivering up-to-date disclosures, ensuring proper compliance and reducing overhead.”

Nearly two weeks earlier, LoanSifter announced the release of its Banker Edition product suite. The enhanced offering includes a customizable rate sheet generator, a third-party Web portal and an upcoming bulk pricing tool.

Sollen Technologies’ mortgage product-eligibility and pricing engine has been integrated into Calyx Point Software utilizing the Sollen ConneX platform, a summer announcement said.

ReadyPrice, which launched in July, announced in August an alliance with the California Association of Mortgage Brokers. The firm aims to provide mortgage professionals with “real-time access to every loan program from every major lender in the state — pricing, adjusters and underwriting guidelines.” The service reportedly cuts the pricing process from hours to less than a minute.

“The ReadyPrice system delivers virtually the entire California mortgage marketplace straight to the broker’s desktop,” the San Jose, Calif.-based company claimed.

Rate Sheet Expiration, introduced last week by PriceMyLoan, helps private mortgage bankers quickly respond to market changes and cut losses due to pricing errors. The tool enables lenders to selectively shut down pricing on specific loan products without disabling automated underwriting, and it prevents originators from locking rates that are not current.

“Our automation relies on investors delivering new rate sheets in a timely matter, and that isn’t always the case,” PriceMyLoan sales executive Gigi Campbell said in the statement. “It’s during those periods when our lenders know pricing is going to be updated that they need to be covered.”

PriceMyLoan, which announced the opening of a sales office in San Antonio last month, said in July that its technology was integrated into the online mortgage lending platform of Costa Mesa, Calif.-based Victory Financial Group LLC. The platform,, will be utilized to generate loan prospects for Victory’s network of over 30,000 financial planners and real estate agents.

LoanDecisions v4.0 delivers greater control through buy- and sell-side pricing analytics, NYLX said in a Oct. 6 press release. It also provides buy-side audit detail for account and branch level adjusters as well as historical pricing data for locked loans. Enhancements to the new version, which impact the origination workflow from the point of sale through secondary marketing process, include better management of mortgage lead generation through direct lead auto-pricing for lead providers.

During the summer, a partnership was announced between NYLX and loan origination system developer Byte Software that makes NYLX’s pricing technology available to users of Byte’s loan origination system.

Earlier this year, PowerPricer was made available through Ellie Mae’s Encompass Banker Edition, according to an announcement from Loan Score Decisioning Systems. Ellie Mae users can quickly price loans, run eligibility and select loan programs both at the point-of-sale and from Ellie’s back-office solution.

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