Why Mortgage Lenders Like Lender Price: A Cloud-Native Solution

‍Mortgage product pricing engines (PPEs) are nothing new. For years, lending institutions have leveraged these platforms to gain near-instant access to rates from a wide range of investors. The vast majority of lenders in 2024 use this type of tool. In fact, the industry has gotten so big that the Federal Trade Commission has gotten involved.

So, the question today isn’t: Should you be using a PPE? Instead, it’s: Which PPE is right for your team?

Because our team has experience working with a variety of PPE providers, we can help you figure that out. You can talk with us in more detail about your needs and your team’s preferences, and we can walk you through some good potential options.

In the meantime, though, we want to continue our series highlighting what different PPEs bring to the table. Today, we want to talk about one of the more technologically sophisticated options. Meet Lender Price.

What you need to know about Lender Price

Lender Price was built in 2015 by a collection of industry veterans. It was the first cloud-native PPE to launch, which means it delivers all of the functionality you’d expect from a cloud-based solution (i.e., access anytime from anywhere). On top of that, the cloud-native programming makes Lender Price easy to scale as you need it, whether that’s vertically into higher loan volumes or horizontally into a new channel.

Today, Lender Price offers tools to serve all of the following channels:

Bulk

Correspondent

Delegated

Direct-to-consumer

Distributed retail

NDC

Retail (e.g., non-QM, non-agency, and portfolio loans)

Wholesale

The tools that Lender Price offers leverage the latest technology to help you do more in less time, too. Your team can create rules for loan scenarios that use natural language processing (NLP), and you can build workflow policies and post-lock processes right into the solution. The sophisticated architecture of Lender Price delivers a high level of pricing stability paired with zero downtime for your team. And it does all of this while integrating with leading loan origination systems, CRMs, and more.

Perhaps it’s not surprising, then, that the company has already done more than $30 billion in locked loan business across more than 45,000 loan products. And it might be just as unsurprising that the company has been named Technology Provider of the Year by the National Association of Mortgage Brokers and has won the HousingWire Tech100 a whopping seven times.

Solutions from Lender Price

Lender Price does off a PPE, but that’s not the only tool you can choose from its suite. To give you an idea of what your lending institution could do with Lender Price, here’s a quick glance at all of its solutions:

Enterprise PPE: Lender Price touts its PPE as an all-in-one tool because it allows your team to evaluate loan scenarios across wholesale, retail, and correspondent options. It delivers granular margin management paired with compliance checks, loan-level price adjustments, and eligibility rules. To make life easier for your team, Lender Price built in features like pipeline monitoring, custom notifications, and lock desk automation. At the same time, this PPE is fully functional on mobile devices.

FLEX non-QM pricing: This tool lets your team explore non-QM and non-agency loan options tailored to their potential borrower’s criteria. And FLEX connects to a secondary marketing lock desk to help your team not just serve customers who best fit these types of loans, but also have a plan in place for after closing.

Base price solution: With this feature, your capital markets and secondary teams can replace their spreadsheets with automated base pricing. And if you’re worried about losing transparency for auditors and regulators, don’t be. Lender Price has thought that through and built transparency into its base price solution.

Lender marketplace: If you’re trying to get your products in front of brokers, Lender Price can help with this solution. The company currently has 16,000 registered marketplace brokers. And because analytics are built in, you’ll be able to see what’s working and where you need to make pricing adjustments.

Broker marketplace: This free tool connects brokers to the right rates and products for their customers. That includes home equity, non-QM, and non-agency options. The marketplace also provides brokers with the functionality to get customized rate sheet alerts and to send rate comparisons on to potential borrowers.

RE marketplace: The real estate marketplace connects real estate pros to rates from hundreds of lenders in their area.

Digital Lending for underwriting: This standalone solution delivers an automated underwriting solution (AUS) for non-QM, non-agency, and portfolio loans, streamlining the process and solving many of the complexities that arise with offering these types of loans.

Website pricer: If you want to provide instant rate quotes on your website, this tool gives you one way to deliver. That said, we can also provide that functionality for you — and apply those rates to other key features, like lead workflows and rate alert emails.

All of these solutions are backed by Lender Price’s SOC 2® compliance. This is a trust criteria laid out by the American Institute of Certified Public Accountants (AICPA) for system and organization controls (SOC). Because Lender Price is SOC 2 compliant, any data you feed into its solutions is diligently protected.

Long story short, Lender Price is one of the leading PPEs in the game right now, and for good reason. This cloud-native tool is scalable to meet your lending institutions unique needs. And because it leverages the latest technological innovations, it works fast and smart.

That said, it’s not the only PPE out there. If you want to talk through different options — and see how they could power your website, emails, and overall marketing program — let’s connect. Book a demo with our team today.

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