More mortgage lenders are on the scene today than there were just a year ago. That means loan pricing has and will continue to become more competitive. You could leave it up to your underwriters but that might not prevent errors on the origination side.
In short more lenders, more choices, more loans means better opportunity for your borrowers But it also means more chance for errors. That's what a loan pricing engine is for
When you price a loan, how many lenders' sites do you check for rates and prices? And how accurate are they? A loan pricing engine can pay for itself just on what you make in one loan.
If you’re not using a product and pricing engine today, bad locks and inaccurate pricing cost lenders thousands every day through human error and an overwhelmed staff. Lenders lose originators due to confusing or inaccurate pricing systems. Product and pricing engines automate the lock process while cutting down on errors but until now lenders had to choose either ease or accuracy.
Our loan pricing engine is the most accurate on the market because it is maintained by real bankers. Plus we update the rates that appear on client websites throughout the day to provide the most accurate quotes possible to potential borrowers.