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Unprime Securities Corporation Successfully Rolls Out PriceMyLoan.com and Lender's Office
COSTA MESA, CA, October 24, 2004 – Insight Lending Solutions, a provider of technology solutions for the mortgage industry, announced today the successful implementation of their suite of loan automation products, PriceMyLoan.com and Lender's Office, with Unprime Securities Corporation, a nonprime wholesale lender based in Houston, Texas.
"Unprime Securities Corporation is setting the standard for lenders," says Gigi Campbell, National Sales Director for Insight Lending Solutions. "Their commitment to use our Web-based technology for loan approval, processing and pipeline management shows that the mortgage industry is primed and ready for change. We're extremely proud to be a partner in their business."
PriceMyLoan.com provides Unprime Securities with an online channel to market their loan products to mortgage brokers through their privately branded website. Brokers submit loan applications, either entered manually or uploaded directly from their LOS, and transfer their existing credit report from more than 200 credit vendors. PriceMyLoan.com returns fully qualified loan products and up-to-date pricing in less than 20 seconds.
"PriceMyLoan.com has significantly improved our pull-through rate, as much as 25 percent," says Linda Bomar, President of Unprime Securities Corporation. "It shows mortgage brokers the programs that fit so they don't send in files only to have them turned down. From our Account Executive's viewpoint, it lowers the amount of training needed for them to be effective because PriceMyLoan reminds them of programs they may not have considered. This increases their opportunities to close a deal when previously they might have just walked away."
Once loans have been qualified and submitted to Unprime Securities for rate locking, the Lender's Office module handles loan processing and pipeline management. Automatic email notifications alert the employees at Unprime Securities to access their Lender's Office accounts and begin processing the loan immediately. Along with it's core LOS features, Lender's Office provides a communication hub for their operations to respond quickly and follow up on broker requests.
The Lender's Office side of the system allows you to originate more because it keeps everything in your face," says Linda. "The whole system is available 24/7 and allows us to stay connected to each other no matter where we happen to be. Simply by opening up a Web-browser we can see the current status of a loan and make note of any changes or tasks that need to get done."
About Insight Lending Solutions
Insight Lending Solutions (ILS) is a leading developer of web-based technology for the mortgage finance industry. ILS provides mortgage lending institutions with innovative solutions for loan pricing, decisioning, processing and origination. Based in Costa Mesa, California, ILS is committed to the development of intelligent business solutions that combine cutting-edge technology with superior client support. For more information, please visit www.lendersoffice.com or call (888) 285-3912.
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Contact: Linn Cook
PriceMyLoan
(714) 957-6335
lncook@pricemyloan.com
www.pricemyloan.com
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