Home - Grapevine - Ask the Experts - BrokerWire - Buyer's Guide - Classified Ads - Conference Calendar - Database - Free Newsletter - Making the Sale - Market Conditions - Marketing Tips - Mortgage University - The Paper Warehouse - Quality Time - Special Reports - SubPrime Lending - Technology News - This Week from Broker Magazine - What We're Hearing - WeirdLoans

Partnership to Offer Originators Real Time Loan Pricing By James Comtois MT. ARLINGTON, NJ-In order to enable originators to accomplish in seconds what once could take hours to perform, Leads360 Inc., a lead management software provider, and New York Loan Exchange Inc., a provider of loan eligibility and best-execution pricing services based here, have developed a seamless integration of their technology platforms. Leads360 and NYLX expect to significantly improve the workflow for loan originators by allowing them to quickly receive leads, contact those leads and price loans for prospective clients. "Based on extensive third party research and our own proprietary data, we know that getting prospects on the phone and being able to provide loan packages without having to reestablish contact is a key driver for sales success," said Nick Hedges, Leads360's senior vice president of strategy. "By incorporating NYLX's best execution pricing and eligibility engine, we feel that Leads360 clients will be even more effective at capturing new and more profitable business." The NYLX partnership will allow Leads360 clients to manage their leads effectively while providing clients with the most complete and actuate pricing data available. Pricing data from NYLX is permanently attached to leads in the Leads360 system, once loans have been priced. This allows for quick and easy retrieval of pricing information as well as instantaneous repricing if circumstances change, giving originators unprecedented customer response capabilities. This partnership represents the first time that two large technology providers which service mortgage brokers and lenders have fully integrated their platforms. Averaging as many as 50,000 loan pricings a day, which equates to approximately $15 billion, NYLX is the most widely used provider of product eligibility and pricing in the mortgage industry. Loan originators use Leads360's platform to manage more than 15,000 new leads each day. Together, Leads360 and NYLX service a highly significant share of the mortgage originators in the United States. "The value of accurate pricing and eligibility information is a key part of profitability for brokers and lenders," said Jeff Solomon, CEO of Leads360. "Anyone using the Leads360 platform will now be able to maximize their revenue by consistently choosing loan packages that are profitable and avoid time-wasting mistakes due to wrong or outdated eligibility requirements." Leads360 is also planning to bundle the NYLX PPE service into its new suite of mortgage products. The Leads360 Mortgage Suite will be available in May 2008 and is set to include NYLX PPE, Leads360 LeadDialer and Leads360 DNC Scrubbing Service. NYLX will be made available on an a la carte basis as well.

Click here for advertising information.
For technical support, e-mail webmaster@brokeruniverse.com
For reprints, call Charlton Sanabria at 212-803-8377.
Privacy Policy
© 2008 Broker magazine and SourceMedia, Inc. All rights reserved.
Use, duplication, or sale of this service, or data contained herein, is strictly prohibited.