Mortgage Software for Mortgage Bankers

Loan Pricing Engine: Does your PPE add up?

Posted by Frank Bocchino on Tue, Jun 12, 2012

guyMore 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.

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Topics: Mortgage Pricing Engine, loan pricing engine

Mortgage Pricing Engine: How often are they updated?

Posted by Frank Bocchino on Tue, Feb 21, 2012
I had two questions about your website.

    1. If you post rates, how often are they updated?

    1. If you don't believe there's value in rate posting, have you looked into other lead generation methods such as social media or SEO?


We update the rates that appear on client websites twice a day to provide the most accurate quotes possible to potential borrowers. Your websites should be a digital representation of you: friendly, informative, diligent, and capable of following up on requests. Let OpenClose develop a website that works as hard as you do. A custom website might cost less than you think. You can see them here. http://openclose.com/landing/websites/

We can also add in the latest social media, SEO, and online applications. May I call you and show you what your website may be missing and what we can provide at an affordable cost?

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Topics: Mortgage Pricing Engine, loan pricing engine, Loan Pricing

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