Read next: Lender Price Launches Non-QM Pricing Platform
With rates on the rise, Alimi added, Marketplace 2.0 can help brokers control costs, stay competitive in a tough market and gain wider access to additional products they may not have known existed. . The solution also gives brokers access to non-QM, non-agency and home equity programs at no additional cost, he said, and lenders can also quickly and easily access thousands of wholesale brokers, which helps them maintain volume in a tough market.
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 lenders – wholesale and correspondent lenders, banks, credit unions and mortgage brokers – with state-of-the-art technology designed to eliminate friction, increase transparency and efficiently interact with borrowers.
The company has raised a few eyebrows over its rapid growth. Under Alimi’s leadership, revenue has grown more than 300% in seven years, positioning Lender Price as one of the leading companies in the mortgage industry. The company says 22 of the top 30 wholesale lenders now operate the Lender Price platform, including eight of the top 12 banks and credit unions. The company now has over 200 clients on its list and over 8,000 Broker Marketplace users. According to its company documentation, Lender Price can now evaluate up to 500 different loan programs and varied permutations in less than 500 milliseconds. On average, the company added, customers see a monthly increase in net margin gains of 10 to 30 basis points using the product suite that Alimi built with fellow co-founders in 2015.