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National Mortgage Professional
Jun 26, 2005

LoanTrader Realizes Significant Operational Efficiencies Via Automated Underwriting EngineMortgagePress.comLoan Trader, Automated underwriting, rules administration system LoanTrader is operating more efficiently, productively and cost-effectively as a result of the automated underwriting environment of LoanTrader Technologies' powerful new Loan Transaction Management System (LTMS). LTMS was officially unveiled Oct. 29 at the Mortgage Bankers Association of America's 87th Annual Convention in San Francisco and includes a powerful new engine, the Rules Administration System (RAS), which automates the price and underwriting discovery process and reduces the amount of time and resources it takes to underwrite a loan file. The end result is a real-time product and price discovery at the point-of-sale. LoanTrader recently reduced its staffing resources needed to facilitate loan transactions through its marketplace, primarily within the sales/member (customer) services areas. LoanTrader's LTMS pushes loan decisioning to the front-end, point-of-sale, thereby decreasing the need for step-by-step, transactional support. LoanTrader no longer needs to identify dedicated resources and personnel to hand-hold a file through the marketplace. "These positions existed to support and troubleshoot a marketplace dependent on back-end decisioning processes and step-by-step transaction management," said LoanTrader CEO, John Le. "This staffing adjustment is directly related to greater operational efficiencies achieved through the implementation of LTMS." Additionally, the increased momentum of Mortgage Broker interest and the independence of the LoanTrader Marketplace has enabled greater sales efficiencies. "We attribute this to successfully moving past the early adopters/innovator stage to the mainstream market," said LoanTrader co-founder and executive vice president of marketing, Robert Palmer. Mortgage industry professionals now look to LoanTrader as an important Internet business partner and view the company's participation in the marketplace as a normal part of their daily operations. Currently, more than 5,500 Mortgage Brokers participate in the Marketplace, and an estimated 200 new brokers sign up each month. Most of these new registrations are a result of referrals from satisfied members and not attributable to direct sales efforts. "The heavy sales recruitment efforts of the past are no longer applicable at this stage of the game," said Mr. Le. "Our focus continues to be centered on streamlining the underwriting process so our broker and lender customers experience the benefits of real-time processing today."
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