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100 Lenders Say "Yes!" to PML Accuracy
Seamless Integration with Multiple LOS.
COSTA MESA, CA – April 17, 2007 – With the addition of two new clients, Residential Finance of Columbus, Ohio and California-based Home Advantage Funding Group, PriceMyLoan (PML) has reached a threshold of 100 deployments, clearly demonstrating that correspondent lenders understand the importance of accurate, private-labeled automated underwriting and loan pricing technology. "To have reached this point in just two and a half years surpassed even our own expectations," says Linn Cook, director of marketing at PriceMyLoan. "This milestone underscores the need that lenders have for automated underwriting technology, and we're proud to be a leading provider."
PML has leveled the lending playing field for small and mid-tier lenders, offering the clout of multiple investor products customized under a private-label brand. Hallmarks of the PML system include integration with virtually every credit-reporting agency in the nation and a full-service business model that provides lenders with pre-built investor loan products. These features address the critical issues that lenders have with successfully deploying a sophisticated automated underwriting and loan pricing system.
"With our comprehensive credit integration, we've lowered the barrier for originators to obtain accurate loan eligibility and pricing decisions," explains Cook. "In addition, our commitment to managing investor guidelines for our clients provides headache-free servicing on an ongoing basis. lowers the barrier of access to technology for small and mid-tier lenders."
Unparalleled Accuracy
The most important quality of PML is its unparalleled reputation for accuracy. "No one else is able to offer this same level of accuracy," says Gigi Campbell, National Sales Director for PML.
"Accuracy is the goal that drives our success, because it's the only benchmark that has a direct affect on our clients' businesses. Accuracy is the key gauge of the effectiveness of any AU technology."
Best of Breed Technology
PML is dedicated to the tenets of Service Oriented Architecture (SOA), where integration to third-party software is encouraged. "We believe in the ‘best of breed' approach, because our clients know what works for them," says Cook. "We are committed to making each piece of client's technology work hand in hand with PML." PML has current integrations with loan management system provider ProLender and document provider loan document preparation provider DocMagic, along with their numerous credit vendor integrations.
Looking Ahead
For 2007, PML sees a challenging environment for lenders that will actually increase their need for automated underwriting and loan pricing technology. "Industry consolidation and shakeout will leave a market that will need to compete on price and product availability. Without automation, lenders of all sizes will have a hard time conducting business efficiently, especially as loan volumes decline," notes Campbell. "We are perfectly positioned to be that competitive edge that lenders are looking for. We project a continued upward trend."
About PriceMyLoan
PriceMyLoan is a proprietary product of Insight Lending Solutions (ILS). Founded in 2002, ILS provides web-based application service for the mortgage lending industry and software as a service (SaaS) to its clients to enhance productivity, reduce IT dependency, and accelerate time-to-value for mortgage companies. Combining advanced technology development using XML and MISMO standards with high-quality service, ILS provides its clients with solutions that result in reduced loan cycle times, improved pull through rates, and a lowered total cost of software ownership.
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Contact: Linn Cook
PriceMyLoan
(714) 957-6335
lncook@pricemyloan.com
www.pricemyloan.com
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