The Product and Pricing Engines (PPE) of yesteryear were an efficient substitute for the good old rate sheets. These have evolved into necessary selling tools for loan originators and an efficient system to quickly analyze potential profits by lender’s secondary marketing managers.
Rate sheets and spreadsheets are things of the past.
LO’s must be armed with the latest and most accurate information on the rates and pricing of the loans they offer. Secondary Managers need the capability for ongoing and immediate analysis of the loan pipeline. They need to be in a position to take advantage of sale opportunities and know when to pull the trigger for profitable MBS trades.
This all hinges on having the right technology for the quick and accurate pricing of loans, the ability to ensure that they meet loan eligibility, and have the capability to optimize each loan’s profitability. A system should allow for:
- Most Current Loan Pricing to assist LO’s in compliant, consultative selling; give the consumer what they want, when they want it
- Loan Pricing for Marketplace competitiveness; provide the ability to compete more effectively in different markets
- Loan pricing for profit optimization; make the most on each loan originated.
The PPE of today must bring efficiency in the pricing and selling of loans while ensuring they remain compliant and met eligibility standards.
This will reduce loan origination costs, improve information accuracy, reduce defects, and increase income for each loan originated.
So, get rid of those old daily rate sheets and come over to the digital age of the new PPE’s. If you’re not sure where to start you can view a recent whitepaper issued by LoanLogics on this issue.
If you are going to successfully compete in today’s mortgage market, you need to have all the latest tools; a current up-to-date PPE is one of those tools.
Don’t miss out on potential new business because your LO’s are searching for current rates and eligibility guidelines. Put this information at their fingertips. Take a look at the PPE of today. LoanLogics can help.