Friday, December 16, 2011

Product & Pricing Engine Enters LOS Space

PriceMyLoan, Costa Mesa, Calif., known in the industry as a provider of automated underwriting and loan pricing technology, has officially launched its LendingQB Web-based mortgage lending platform.

"With LendingQB, we believe we are doing more than just providing a ‘cloud computing’ loan origination system,” said Binh Dang, LendingQB's managing partner."We believe we are fundamentally changing the way that lenders use technology."

Since 2004, PriceMyLoan has been providing lenders with advanced technology to automate the underwriting and pricing of their loans. Over the past seven years, PriceMyLoan has had the unique opportunity to work closely with their clients and carefully observe their utilization of technology.

“Each one of our clients had a valuable LOS story to tell us,” said Gigi Campbell, national sales director for LendingQB. “What became evident is their desire for a ‘one-stop shop’ lending system, and a system that would adapt to the way they work.”

To that end, LendingQB was built to include a comprehensive list of features, such as electronic documents with e-signatures; a full complement of tools for loan processing, underwriting, secondary marketing, closing and post-closing; and specialized tools for wholesale and retail environments, such as broker website portals and online consumer loan applications. Naturally, PriceMyLoan powers the automated underwriting and loan pricing aspects of the LendingQB platform.

But the company claims that its most innovative feature is not built into its technology, but rather it's the way that they work with their clients.

"Lenders need more than just a piece of software," said Campbell. "They need a technology partner that is willing to listen and respond to their specific needs. That’s the true value of our web-based model. We can reach directly into a client's system and instantly deploy any changes they request. It creates a truly customized experience that molds to their particular workflow."

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