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Pricing Technology Aids Primary, Secondary Markets

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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]


 

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