Cogent Road Announces Integration With PriceMyLoan – NMP Skip to main content

Cogent Road Announces Integration With PriceMyLoan

NationalMortgageProfessional.com
Aug 30, 2012

Cogent Road, a provider of innovative cloud-based mortgage technologies, has announced the integration of its Roohmz Mortgage (Enterprise) Management/Loan Production System with PriceMyLoan, the automated underwriting and loan pricing system. Using investor guidelines, pricing matrices and rate sheets, PriceMyLoan returns accurate loan eligibility and pricing results. With this completely seamless integration, Roohmz Mortgage Enterprise’s comprehensive workflow management system now offers all of the notable features of PriceMyLoan. That includes the ability to check pricing, lock loans, track locks, auto-import all investor-specific overlay conditions and distribute to all parties involved. In addition, Roohmz provides access to historical pricing to help lenders quickly calculate pricing adjustments should loan criteria change during the lock period. Users don’t have to leave the Roohmz site to perform the pricing functions and no additional Web site access is necessary. “The seamless integration combines Roohmz’s unique workflow system with the only automated underwriting and pricing engine in the industry,” said Binh Dang, president of LendingQB, parent company of PriceMyLoan. “The PriceMyLoan technology is a significant enhancement to Roohmz Mortgage Enterprise,” added William DiPaolo, chief executive officer of Cogent Road. “We envision that this will serve as another model of how two software providers working in close cooperation can integrate their products in ways that provide new benefits for their users.” First introduced in 2010, Roohmz Mortgage Enterprise evolved out of Cogent Road’s expertise in data packaging and analytics, ultimately creating a workflow management system that continually monitors loan data from application to origination. Roohmz ensures loans are underwritten accurately every time, significantly reducing the risk of loan buybacks. It keeps every loan in compliance with Regulation B, Regulation Z and the Real Estate Settlement Procedures Act (RESPA), and automatically delivers adverse notices when necessary. Roohmz provides workflow automation, paperless origination, complete with e-signing and automatic assembly of loan packages to investors. PriceMyLoan is a pricing and automated underwriting engine designed for residential mortgage lenders. Originally developed in 2004, PriceMyLoan is delivered as a Web browser-based software as a service (SaaS) application with the goal of enhancing productivity, reducing IT dependency and accelerating the return on investment (ROI) for its clients.
Published
Aug 30, 2012
More from
Tech
Servion Taps Sagent For Consumer-First Servicing Tech Stack

A 7-year deal between Servion Mortgage and Sagent will equip Servion with Sagent's tech stack for performing, non-performing, and consumer experience.

Tech
Nov 29, 2021
OptiFunder Secures $25 Million In Capital

OptiFunder, a warehouse management system provider for mortgage originators, raised $25 million in additional capital lead by Arthur Ventures, a growth capital firm focused on high-growth, founder-led and capital efficient B2B software companies.

Tech
Nov 23, 2021
Guaranteed Rate Adds New Chief Product And Technology Officer

Guaranteed Rate named Dr. Ramesh Sarukkai as the company’s new chief product and technology officer.

Industry News
Nov 22, 2021
Fintech Mortgage Proven To Reduce Racial Bias In Lending

Technology-based Fintech mortgage may be the answer to reducing, and ultimately eliminating, racial bias and discrimination in lending.

Analysis and Data
Nov 19, 2021
nCino To Acquire SimpleNexus

Cloud banking and digital transformation solutions company, nCino Inc., signed a definitive agreement to acquire SimpleNexus in a stock and cash transaction valued at an estimated $1.2 billion.

Tech
Nov 19, 2021
Guaranty Home Mortgage Partners With Paradatec For Doc Automation

Guaranty Home Mortgage Corporation selected Paradatec's AI-Cloud for document processing and indexing.

Tech
Nov 16, 2021