Mortgage technology vendor offers an affordable and automated tool for lenders looking to simply capture pricing data and manage loan programs
PR Log (Press Release) – May 11, 2010 – Mortgage pricing engine vendor, Priceweaver, has released a reduced version of their flagship product, LenderHub. This smaller version is aptly named, LenderHub Lite.
LenderHub Lite is designed to offer automated correspondent lender pricing to residential mortgage bankers in an XML format that they can link to from an Excel spreadsheet. Customers log into a web-based portal, create business channels, enable loan programs, manage profit margins, and LenderHub Lite does the rest. A well-formatted XML file distributed via a secure URL string is then produced that can be used to create ratesheets, compare pricing, create marketing flyers, etc.. Anytime an update occurs automatically or by the user, the XML file is refreshed. Lenders can then reproduce and redistribute their ratesheets at their leisure. LenderHub Lite includes a notification service that emails appropriate parties that correspondent lender pricing has been updated.
"Lenders traditionally have to sign up for an entire product and pricing engine in order to obtain this information. For those customers that simply want to produce ratesheets, we give them an affordable and simple solution to capture data for them automatically," notes Mark Ramirez, Priceweaver's CEO. "Our automation is one of the many features of our enterprise product, LenderHub, but we wanted to offer that automation technology out to the industry as a standalone product for those lenders that wanted to harness that data and do what they want with it. This tool also eliminates the need for employees to manually login to investor websites and pull down pricing data, thereby reducing the amount of time it takes to produce ratesheets."
Lenders can begin capturing pricing and managing programs in as little as 10 minutes and if they have the desire to graduate to the full version of LenderHub, all their customization stays intact. All Priceweaver products are available to mortgage bankers of any size and are offered on a month-to-month contract with no startup costs, no user fees, and is completely web-based.
