PASADENA, Calif., June 27, 2022 (SEND2PRESS NEWSWIRE) — Lender Price, a leading provider of product, pricing and eligibility technology, announced today they have released Marketplace 2.0, a major enhancement to their Broker Marketplace platform, one of the largest communities of wholesale brokers in the mortgage industry.
Image Caption: Lender Price logo.
Created to match lenders with mortgage brokers looking to find the best rates and loan products for borrowers in a volatile market, Marketplace 2.0 gives brokers the ability to pull in pricing from their existing lender relationships automatically and run pricing comparisons of participating Broker Marketplace lenders. Eliminating a lengthy signup process and a monthly fee, Marketplace now helps brokers instantly see all of their lenders and marketplace lenders inside a single location without logging into several different TPO portals.
“Marketplace 2.0 is a game changer for brokers and lenders. It helps wholesale lenders expand their audience and gain access to thousands of mortgage brokers quickly,” said Dawar Alimi, CEO of Lender Price.
“For brokers, we designed the platform to help them find the most competitive loan programs in this market and help them move away from using legacy technology that typically comes with a monthly fee. Our solution is 100% free to the wholesale broker community and it’s one less cost that a broker has to worry about right now.”
With Marketplace 2.0, mortgage brokers can now:
- Pull in pricing from their existing wholesale lender relationships without waiting
- Quickly add comp and rate sheets and receive accurate pricing without a monthly fee moving forward
- Invite borrowers to see tailored products and scenarios from inside the system
- Create custom rate alerts and be alerted when new opportunities arise
- Find and isolate specific non-QM, non-agency and home equity products
- Get more control and freedom and run pricing from anywhere
- Find loans that compete with all-cash offers and share with realtors
- Discover products they were previously unaware of and might not know are available
Advantages for wholesale lenders participating in Marketplace 2.0 include:
- Ability to offer product and pricing to additional brokers outside of current network
- Easy access for brokers to find their specific programs and conduct business with them
- Detailed analytics on broker pricing behavior
- Quick notifications on when brokers choose their products
- Ability to showcase non-QM, non-agency and home equity products
Onboarding is now automated, extremely simple, and brokers are up and running in minutes. Brokers only need to upload their rate sheets once and the system automatically updates product and pricing moving forward. Users will be able to see accurate pricing without manual updates.
With rates on the rise, Marketplace 2.0 can help brokers keep costs under control, stay competitive in a challenging market and get wider access to additional products that they might not know exist. The solution also gives brokers access to non-QM, non-agency and home equity programs at no additional cost. Lenders can also gain access to thousands of wholesale brokers quickly and easily, helping them maintain volume during a challenging market.
Learn more about Marketplace 2.0 and the Lender Price platform at https://lenderprice.com/
About Lender Price:
Lender Price is a California-based developer of mortgage technology, including an advanced product, pricing, & eligibility (PPE) engine, digital lending point-of-sale (POS), and non-agency automated underwriting engine. Lender Price provides all types of mortgage lending institutions – wholesale and correspondent lenders, banks, credit unions, and mortgage brokers – with advanced technology designed to eliminate friction, increase transparency, and effectively engage with borrowers. More information about Lender Price can be found at https://lenderprice.com and https://digitallending.com.
MEDIA ONLY CONTACT:
Rick Webster
Chief Marketing Officer
(626) 486-1708
rwebster@lenderprice.com
News Source: Lender Price