Mortgage Banking Solutions and PriceMyLoan Team Up to "Optimize" Lenders

AUSTIN, Tex. and COSTA MESA, Calif. - August 27, 2008 - As the mortgage industry struggles to find its footing, Mortgage Banking Solutions (MBS) and PriceMyLoan (PML) have joined together to help lenders "optimize" their businesses and establish a new strategy for success. "Lenders need to do more than just cut back on their expenses," said Andrew J. Schell, CPA, CMB managing partner at Austin-based Mortgage Banking Solutions. "To survive in this lower margin world, lenders must find ways to optimize their operations and adapt to achieve sustainable profitability by fundamentally changing the way they do business."

Mortgage Banking Solutions (MBS) is a management consulting firm that provides comprehensive strategic planning for mortgage lenders. Their expertise covers the range of loan production - from origination to secondary marketing - incorporating the best practices in accounting, technology and overall corporate management.

One of their key assets is an extensive network of strategic partners: a select group of vendors and service providers that they utilize when creating solutions for their clients. "Part of our value is that we've already done the evaluation and due diligence on these companies," Schell said. "We have a clear understanding of the value they provide to lenders."

Among their strategic partners, MBS chose PriceMyLoan (PML) to provide product and pricing technology for their clients. Their selection of PML was based on a key criteria that sidelined other vendors. "A product and pricing engine must demonstrate that they can price loans accurately," Schell explained. "Because of PriceMyLoan's ability to combine live credit, product and pricing data, there is a high confidence in accurate product selection."

PML goes beyond a typical product and pricing engine because it utilizes live credit report data to generate a detailed automated underwriting decision. Combined with full service management of rate sheets and underwriting guidelines, PML delivers extremely accurate loan eligibility and pricing at the point of sale.

As a result, loans that come into a lender's pipeline have a much higher probability of funding, one of the primary goals that MBS establishes for their clients. "PML lowers the amount of fallout and thereby reduces the typical inefficiency from working on declined loan that affects the processing and underwriting team," noted Schell. "By only locking the loans that are likely to fund, there is a high pull-through rate so the investor has a lower hedge cost and can offer the most favorable pricing tier."

"Lenders are in need of sound advice," said Gigi Campbell, national sales director at PML. "MBS brings all the pieces together and shows lenders the shortest route to success. We're proud to be a partner of MBS."

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. For more information, please visit www.pricemyloan.com.

About Mortgage Banking Solutions
Mortgage Banking Solutions is the preeminent management consulting firm to the residential mortgage finance industry. The MBS partners are often seen on TV, quoted in newspapers across the country, and published in national periodicals. MBS’ primary focus is to enable executives to take their businesses to the next level and guide them down a path to sustainable profitability. With over 200 years of combined experience in all facets of mortgage lending, the MBS team of professionals has the expertise and know-how to help lenders and brokers accomplish their goals. The services provided by Mortgage Banking Solutions include propelling clients to increase production volume, improve secondary marketing execution, and assist lenders in obtaining warehouse funding. MBS also offers warehouse line reviews, hedging strategy assessment, operational reviews, exit strategy planning, CFO2Go, and corporate valuations. For more information, visit www.mortgagebankingsolutions.com.

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Contact: Linn Cook
PriceMyLoan
(714) 957-6335
lncook@pricemyloan.com
www.pricemyloan.com