The Servicing Source, a division of the Sextant Group Inc. and provider of mortgage asset pricing services and models, has announced the purchase of Level 1 Loans from IntraPrise Solutions. Concurrent with this acquisition, the Servicing Source will be renamed Level 1 Loans. IntraPrise Solutions will continue to provide technical support for this new brand of asset valuation models. The mission of Level 1 Loans is to bring mortgage asset pricing as close to a true level 1 valuation under FAS 157 as possible. This means striving for quoted prices, of identical assets, in active markets, at the measurement date. Level 1 Loans will combine its proprietary cash flow model with its newly acquired loan level slotting and pricing engine. This revolutionary slotting and pricing engine incorporates the actual prices investors are willing to pay for mortgage loan products as offered in their daily rate sheets. Our database of over 50 buyers of loan products is updated daily and includes all of the adjustments and eligibility rules for each loan product within these rate sheets. The result is a pricing database of thousands of unique loan products. These data can quickly determine the price quoted for any loan by one or many investors. Coupled with high-performing, multi-threaded, multi-machine technologies, loan-level product slotting and pricing of even very large portfolios can be accomplished quickly, defensibly, and accurately. Dr. Thomas J. Healy, CMB, president of Level 1 Loans Inc. noted that, “This system avoids the subjectivity inherent in the cash flow modeling relied on by most valuation systems. It identifies what the active loan market will pay for an identical asset as of the measurement date. Pricing validity has been demonstrated for both new and seasoned loans.” Todd Fisher, president of IntraPrise Solutions, stated that “this system is made possible by the marriage of Level 1 Loans’ understanding of mortgage asset pricing and IntraPrise solutions technology that allows for the capture of investor prices, the slotting of loan product against those prices, and the execution and delivery of valuation runs.” For more information, visit L1Loans.com.