The focus is now: “Now what happens in this third phase, they are evaluating their technology stack and on the pricing side they are looking for a solution that measures ROI. Ever since Black Knight bought Optimal Blue, Optimal Blue has increased its costs. You have to – it’s one of those things that when you buy a solution for billions of dollars, you have to justify the expense because they didn’t just pay billions of dollars, they financed the acquisition. To repay that, they have to increase the usage costs.
According to Alimi, this is where Lender Price comes in. “We are the next modern solution,” he said. “And we can provide a solution that’s cheaper than theirs and has features that automate pricing, workflows, lock management, lock policy, margin management. So when you measure the ROI and effectiveness of implementing a new solution today, you’re looking at it from different perspectives. »
Such a perspective would be from brokers or loan originators: “Do I have a pricing engine that allows me to see more products?” Alimi asked rhetorically. “There are trillions of dollars in real estate capital, but we are the only solution that can provide you with a range of products, whether it’s QM, traditional loans, non-QM loans, non-traditional loans, financing non-traditional and home equity.. When you’re a loan originator and talking to a borrower, you want a tool that gives you a lot of options. , it’s about having a product that allows them to search for more products and learn about more products because the more products they discover, especially in the shopping market we’re in, they can to educate the borrower. For example, look at bridge loans. “I like this house that I want to buy but I have to sell my house, but I don’t want to lose the opportunity to buy this house.” So what do you do? You get a bridging loan.
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The lender’s price also takes into account the investor’s point of view: “For investors, there is DSCR, there are redemptions, there are 3-2-1 redemptions, 2-1 redemptions where basically you can ask the vendor to finance the cost to give you a low rate, but you’ve got to have a solution that offers all of these programs and says “you’re looking at this particular program.” Have you ever thought about that other program? This is what our solution does.