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PriceMyLoan and Tri-Star Lending Team Up for Testing and Validation
Costa Mesa, CA – August 8, 2006 – In order to optimize their automated underwriting and loan pricing engine, PriceMyLoan has introduced the Platinum Investor Program (PIP), marshalling the direct assistance of investors whose loan products are included in their system to perform testing and validation.
Tri-Star Lending Group, a division of Pinnacle Financial, is working with PriceMyLoan to provide direct testing and verification of PML's automated underwriting and loan pricing engine.
"We have the most accurate automated underwriting and pricing engine in the industry," says Gigi Campbell, National Sales Director at PML. "But investor products change and guideline interpretations are not always clear. By working directly with us, investors such as Tri-Star ensure that their correspondents are providing accurate pricing and approvals using PML."
PIP investors can use the PML engine to input loan scenarios and credit report information. Results generated by PML are checked for guideline and pricing accuracy by the investor. Any discrepancies or changes are communicated directly to PML engineers, where updates are released immediately to every PriceMyLoan client using that investor's loan products.
"Anything that helps our correspondents grow is good for us," remarks Janet Peters, Vice President of Correspondent Lending at Tri-Star. "PML has proven extremely effective in helping correspondents promote our loan products. Working with PML helps everyone involved by ensuring smooth and efficient underwriting and delivery of loans. We couldn't be happier."
About PriceMyLoan
PriceMyLoan (pricemyloan.com) 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.
About Tri-Star Lending Group
Tri-Star Lending Group (www.tristarlendinggroup.com) is the wholesale and correspondent lending division of Pinnacle Financial Corporation (www.pinnaclefinancial.com), one of the nation's fastest growing independently-owned direct mortgage lenders. The company works directly with Wall Street investors to design residential mortgage products that are unique to the industry. Founded in 1988 and headquartered in Orlando, Fla., Pinnacle Financial is licensed in 48 states and employs more than 1,100 people. The company closed more than $5.5 billion in residential mortgage loans in 2005.
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Contact: Linn Cook
PriceMyLoan
(714) 957-6335
lncook@pricemyloan.com
www.pricemyloan.com
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