[November 18, 2014] |
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Mortech Enhances Secondary Marketing Solution with Historical Pricing Functionality
LINCOLN, Neb. --(Business Wire)--
Mortech, a Zillow® business providing mortgage technology
software solutions for mortgage bankers and secondary market teams,
today announced the availability of historical pricing within their
secondary marketing solution. The historical pricing functionality
expedites the re-pricing and re-locking process, allowing mortgage
lenders to immediately address changes in the lock application.
Historical pricing from Mortech is designed for mortgage lenders looking
to increase re-pricing accuracy and workflow, and reduce time and
resources on loan re-evaluations. The feature allows mortgage lenders to
easily view pertinent archived loan information in the event of borrower
credit, appraisal, purchase price, or other changes to the locked
information. Historical pricing takes several loan changes into
consideration, including:
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Investor pricing
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Lender profit and cost
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Loan level pricing adjustments (LLPAs)
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Loan officer compensation
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Service release premiums (SRPs)
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Average prime offer rates (APOR index)
"Loan data transparency and accuracy are essentialfor mortgage lenders
to succeed in an ever changing mortgage market," said Doug Foral,
general manager of Mortech. "Without a structured process in place,
lenders can spend a vast amount of time and resources
researching historical rate data when re-pricing loans. The addition
of historical pricing is one of the many tools we're incorporating into
our pricing engine and secondary marketing solutions to provide lenders
with the information they need to make the most profitable decisions on
a daily basis in today's mortgage market."
About Mortech, a Zillow business Lincoln, Neb.-based Mortech
was founded in 1987 to provide product and pricing engine (PPE)
solutions, including best execution pricing, AllRegs®
eligibility, detailed profits structures, and best execution MI, all for
an extensive list of investors; lead management solutions, including a
sophisticated sales dashboard, ratetracker, automated lead distribution
and email marketing; and lock desk solutions, including lock pipeline
management, custom reporting, LO compensation, LOS integration, and the
ability to lock directly with investors. Thousands of correspondent
lenders, bankers, credit unions, and smaller community lenders use
Mortech® tools. In addition, Mortech provides mortgage
product and pricing information to some of the top real estate and
banking websites, including Zillow, Bankrate (News - Alert)® and LendingTree®.
Mortech has been recognized by Mortgage Technology magazine as a Top 50
Service Provider every year since 2010. The company won a 2010 Mortgage
Technology magazine Synergy (News - Alert) Award with AllRegs. In 2012, Mortech was
acquired by leading real estate information marketplace, Zillow, Inc. To
learn more about Mortech, visit www.mortech.com.
Zillow and Mortech are registered trademarks of Zillow, Inc. AllRegs is
a registered trademark of Mortgage Resource Center, Inc. Bankrate and
Bankrate.com are registered trademarks of Bankrate, Inc. LendingTree is
a registered trademark of LendingTree, LLC.
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