PriceMyLoan releases Quick Pricer ToolMortgagePress.comPriceMyLoan, Quick Pricer Tool, Gigi Campbell, online approval
PriceMyLoan has announced the release of Quick Pricer, a new
feature for their automated underwriting and loan pricing engine
that provides quick and easy access to loan pricing. Quick Pricer
is an enhancement that focuses on giving loan originators the
ability to quickly preview a lender's pricing before submitting a
loan for full approval.
In today's connected world, online loan eligibility and pricing
engines have become widespread. But a major challenge in designing
these systems has been addressing a lender's need for accuracy and
thoroughness while providing the speed and convenience that
originators demand. In many cases, these systems end up sacrificing
one element for the sake of the other.
In order to satisfy both lenders and originators, PriceMyLoan
created Quick Pricer, an abbreviated version of PriceMyLoan that
greatly simplifies the task of pricing loans. In order to obtain
detailed pricing results on qualified loan products, only eight
pieces of data need to be entered by the originator and the entire
process can be completed in a matter of seconds.
"PriceMyLoan is great at helping lenders improve their
pull-through by accurately determining loan eligibility and
pricing," said Gigi Campbell, national sales director at
PriceMyLoan. "But in order to attain that level of accuracy, loan
officers have to provide more information than they might have if
they're in a pre-qualification stage. Quick Pricer gives
originators the flexibility to get basic pricing information very
easily, so they can determine whether to move forward or not."
When originators choose to fully qualify a borrower, the Quick
Pricer result can be converted into a complete PriceMyLoan loan
file, where additional information such as credit report data,
property and loan characteristics, and other details can be entered
to produce a more accurate decision, and the loan can subsequently
be submitted for locking.
"Quick Pricer saves me a lot of time when working with a
client," said Robert Santangelo, a loan officer at San Diego-based
Spectra Funding. "My realtors can't believe how fast I can get them
scenarios with actual pricing, and being able to convert a Quick
Pricer to a loan saves a lot of steps and time. It definitely gives
me a competitive advantage over other loan officers."
For more information, visit www.pricemyloan.com.