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Special Reports
Electronic Documents
Sollen Pricing Tool Lets Users View Guidelines
Access may be customized.
By Anthony Garritano
Sollen Technologies, an Internet-based application services provider of product,
pricing and best execution capabilities for the mortgage industry, has launched a new technology that will be added
to its Lender OnLine loan finder and pricing tool.
This new tool will allow loan officers and secondary marketing users to view the actual guidelines from an investor
rather than an interpreted version of the guidelines to better decide if an applicant is qualified for a particular
loan program. "Many clients have requested this tool," said Michel Van Hee, CEO of Sollen Technologies
in a prepared statement.
"This function will allow originators to see if the borrower will completely
fit a loan. It will also allow them to view the matrix when a loan is disqualified."
Lender OnLine is a Web-based application that enables loan searching, validation, loan level adjusted pricing and
locking for a wholesale, retail, correspondent or call center application. The program allows the originator to
capture multiple lending options in one execution, searching loan types, loan products and documentation at the
same time to find the optimal match for the borrower. Also, electronic locking eliminates faxing and reduces time-consuming
phone calls.
"With Sollen's technology we can immediately view investor guidelines without
having to leave the system and log in to another site," said Zoo Jannesar, vice president, secondary for Reston,
Va.-based Access National Mortgage. "The guidelines are right there where you can open them, print them out,
make a decision whether the loan fits the guidelines and lock it in."
Access to the guidelines is configurable as to which party may see them. For example, loan officers may not have
access while the secondary department does. They are also customizable. "We will have our own programs in
the system for our loan officers to see. It makes the ease of the transaction much better," said Mr. Jannesar.
"When you are working with a borrower, you want to make sure everything will
be accepted and that you are quoting the information to your clients correctly. The ease of having everything right
there for the loan officer is highly beneficial for everyone," he said.
"We are dedicated to providing product and pricing tools that make the loan
process smoother and easier on lenders," said Mr. Van Hee. "This newest innovation will save even more
time by having a full guideline tool along side our product pricing engine."
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