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LenderLive network becomes parent company to Guardian Mortgage Documents

National Mortgage Professional
Aug 26, 2008

Mortgage Banking Solutions and PriceMyLoan Team Up to "Optimize" LendersMortgagePress.comMortgage Banking Solutions, origination, secondary marketing, automated underwriting, rate sheets As the mortgage industry struggles to find its footing, two companies have joined together to help lenders optimize their businesses and establish a new strategy for success. "Lenders need to do more than just cut back on their expenses," said Andrew J. Schell, CPA, CMB managing partner at Austin-based Mortgage Banking Solutions (MBS). "To survive in this lower margin world, lenders must find ways to optimize their operations and adapt to achieve sustainable profitability by fundamentally changing the way they do business." MBS is a management consulting firm that provides comprehensive strategic planning for mortgage lenders. Their expertise covers the range of loan production—from origination to secondary marketing—incorporating the best practices in accounting, technology and overall corporate management. One of their key assets is an extensive network of strategic partners: a select group of vendors and service providers that they utilize when creating solutions for their clients. "Part of our value is that we've already done the evaluation and due diligence on these companies," Schell said. "We have a clear understanding of the value they provide to lenders." Among their strategic partners, MBS chose PriceMyLoan (PML) to provide product and pricing technology for their clients. Their selection of PML was based on a key criteria that sidelined other vendors. "A product and pricing engine must demonstrate that they can price loans accurately," Schell explained. "Because of PriceMyLoan's ability to combine live credit, product and pricing data, there is a high confidence in accurate product selection." PML goes beyond a typical product and pricing engine because it utilizes live credit report data to generate a detailed automated underwriting decision. Combined with full service management of rate sheets and underwriting guidelines, PML delivers extremely accurate loan eligibility and pricing at the point of sale. As a result, loans that come into a lender's pipeline have a much higher probability of funding, one of the primary goals that MBS establishes for their clients. "PML lowers the amount of fallout and thereby reduces the typical inefficiency from working on declined loan that affects the processing and underwriting team," noted Schell. "By only locking the loans that are likely to fund, there is a high pull-through rate so the investor has a lower hedge cost and can offer the most favorable pricing tier." "Lenders are in need of sound advice," said Gigi Campbell, national sales director at PML. "MBS brings all the pieces together and shows lenders the shortest route to success. We're proud to be a partner of MBS." For more information, please visit or visit
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