Today’s PPE, More Than Just an Electronic Rate Sheet

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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.

About the Author

Michael Vitali

Michael L. Vitali – Independent Consultant to the Mortgage Industry Mike Vitali is an independent consultant to the mortgage industry on matters concerning compliance and mortgage lending. He most recently served as the Senior Vice President and Chief Compliance Officer for LoanLogics, monitoring regulatory developments and their practical implications for the mortgage lending industry. His duties included research, interpretation, and analysis of existing and proposed legislation related to the industry in support of recommendations for policy and/or procedure changes to maintain continued quality and compliance with all applicable laws, rules and regulations, investor requirements, and standard mortgage practices. In his more than 40 years in the mortgage industry, in senior level management, he has gained experience in all areas of mortgage lending, risk management, and compliance. Mike is a past President of the MBA of Greater Philadelphia, is a charter member and was the second Chairman of the MBA of Pennsylvania, and a past board member and Legislative Chair of both associations. He is a recipient of the 1998 Mortgage Banker of the Year Award from the MBA of Greater Philadelphia, and the 2003 Chairman's Award from the MBA of PA, and currently serves on several compliance related task forces for MBA.