PASADENA, Calif., June 27, 2022 (SEND2PRESS NEWSWIRE) — Lender Price, a leading provider of product, pricing and eligibility technology, today announced the launch of Marketplace 2.0, a major enhancement to its platform Broker Marketplace, one of the largest wholesale brokerage communities in the mortgage industry.
Image caption: Lender price logo.
Created to match lenders with mortgage brokers looking to find the best rates and loan products for borrowers in a volatile market, Marketplace 2.0 gives brokers the ability to automatically pull pricing from their existing mortgage relationships. lenders and to perform price comparisons of participating Broker Marketplace lenders. By eliminating a lengthy registration process and monthly fees, Marketplace now helps brokers instantly see all of their Marketplace lenders and lenders in one place without logging into multiple different TPO portals.
“Marketplace 2.0 is a game changer for brokers and lenders. It helps wholesale lenders expand their audience and quickly access thousands of mortgage brokers,” said Dawar Alimi, CEO of Lender Price.
“For brokers, we designed the platform to help them find the most competitive loan programs in this market and help them move away from using legacy technology that usually comes with monthly fees. Our solution is 100% free for the wholesale broker community and it’s one less cost a broker needs to worry about right now.
With Marketplace 2.0, mortgage brokers can now:
- Pull pricing from their existing relationships with wholesale lenders without waiting
- Quickly add composition and pricing sheets and receive accurate prices with no monthly fees in the future
- Invite borrowers to view custom products and scenarios from inside the system
- Create custom rate alerts and get alerted when new opportunities arise
- Find and isolate specific non-QM, non-agency and home equity products
- Get more control and freedom and manage prices from anywhere
- Find loans that compete with all-cash offers and share them with real estate agents
- Discover products they didn’t know before and maybe didn’t know were available
Benefits for wholesale lenders participating in Marketplace 2.0 include:
- Ability to offer products and prices to additional brokers outside of the current network
- Easy access for brokers to find and do business with their specific programs
- Detailed analytics on broker pricing behavior
- Prompt notifications when brokers choose their products
- Ability to present non-QM, non-agency and home equity products
Onboarding is now automated, super easy, and brokers are up and running in minutes. Brokers only need to upload their price sheets once and the system automatically updates products and prices in the future. Users will be able to see accurate prices without manual updates.
With rates rising, Marketplace 2.0 can help brokers control costs, stay competitive in a tough market, and gain wider access to additional products they may not know existed. The solution also allows brokers to access non-QM, non-agency, and home equity programs at no additional cost. Lenders also have quick and easy access to thousands of wholesale brokers, helping them maintain volume in a tough market.
Learn more about Marketplace 2.0 and the Lender Price platform at https://lenderprice.com/
About the lender price:
Lender Price is a California-based mortgage technology developer, featuring an advanced product, pricing and eligibility (PPE) engine, digital loan point-of-sale (POS), and non-agency automated underwriting engine. Lender Price provides all types of mortgage institutions – wholesale and correspondent lenders, banks, credit unions, and mortgage brokers – with state-of-the-art technology designed to eliminate friction, increase transparency, and effectively interact with borrowers. More information about the lender price can be found at https://lenderprice.com and https://digitallending.com.
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News source: Lender price