The deal is the second that Lender Price announced this week to provide broader access to its marketplace product, pricing and eligibility engine.
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Mortgage technology provider Lender Price has struck its second major partnership deal in a week, this time with NEXA Mortgage LLC, which claims to be the nation’s largest mortgage brokerage.
Chandler, Ariz.-based NEXA Mortgage sponsors 1,983 mortgage originators working in 238 branches serving 48 states and Washington, DC — everywhere except Massachusetts and New York, according to the National Mortgage Licensing System and Registry.
Under a partnership announced Thursday, all NEXA mortgage brokers will have access to Lender Price‘s market product, pricing and eligibility engine when connected to NEXA’s loan origination system, LoanOfficerSupport. com.
“Partnering with Lender Price provides our loan officers with superior pricing technology and helps them stay competitive in a challenging market,” NEXA Mortgage CEO Mike Kortas said in a statement. “This relationship exemplifies our commitment to forming strategic alliances with industry leaders to provide our brokers with access to the largest pool of investors, widest product selection and most competitive pricing available.”
Mortgage, Pricing, and Eligibility (PPE) product engines automate the process of providing borrowers with personalized loan options based on their unique credit, income, and other attributes. Lender Price — which just announced a partnership with software provider Constellation Mortgage Solutions on Tuesday — is a cloud-native, software-as-a-service (SaaS) pricing engine.
Launched in 2015 and based in Pasadena, California, Lender Price claims to provide “one of the largest libraries of investors, the largest user base of brokers, and prices and interest rates for every type possible loan”, including qualified and non-qualified mortgages (QM and non-QM) and home equity loans.
“We are absolutely thrilled to partner with NEXA,” Lender Price Founder and CEO Dawar Alimi said in a statement. “Together, we are committed to providing brokers with the best pricing technology in the market. Our combined approach will help NEXA brokers close more loans while providing a better pricing experience for NEXA brokers”
Rival PPE solutions include Black Knight’s Optimal Blue, Zillow Group’s Mortech and OpenClose’s DecisionAssist. Black Knight also provides a product and pricing engine in its Compass loan origination system, as does ICE Mortgage Technology, provider of the Encompass loan origination system.
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