PennyMac joins lender price market

0

Lender Price, a provider of mortgage pricing and origination technology, announced that PennyMac Broker Direct has been added to its Marketplace pricing engine. PennyMac Loan Services, LLC (a wholly owned subsidiary of PennyMac Financial Services, Inc., NYSE: PFSI) is a national, multi-channel lender headquartered in Westlake Village, California.

The user base of Lender Price Marketplace’s pricing engine has grown fivefold since May 2019. The Marketplace has become a go-to resource for mortgage brokers to research current prices from multiple wholesale lenders. The addition of PennyMac brings the total number of wholesale lending partners to twenty-seven.

“We are aggressively growing our direct brokerage channel and believe brokers can leverage our perfect rate, perfect term and other granular pricing structures to grow their business,” said Kim Nichols, Managing Director of Penny Mac. “The Lender Price Marketplace is a valuable tool for brokers and we see this partnership as an opportunity to increase our visibility with brokers who could benefit from partnering with PennyMac.”

Lender Price distributes the Marketplace pricing engine through a partnership with the National Association of Mortgage Brokers (NAMB), an industry trade group with more than 6,000 mortgage broker members. Together, Lender Price and NAMB offer the Marketplace free to all of its members.

“We are extremely pleased to partner with PennyMac,” said Dawar Alimi, CEO and Founder of Lender Price. “In the last seven months alone, we have grown our user base by 500% and added many lenders to the Marketplace. This demonstrates the demand from mortgage brokers for a convenient way to find loan products and lenders. such as PennyMac who want to reach a wider customer base.

Share.

Comments are closed.