Lender Price Marketplace connects lenders with one of the largest audiences of mortgage brokers in the mortgage industry. With thousands of brokers signed up to the Marketplace platform, lenders are finding Marketplace to be a cost-effective lead source that gives them the ability to get all of their loan products in front of more originators.
Some of the newest enhancements that are making a difference for lenders include:
- New Rate Display with Drill-Down Capabilities: Marketplace 2.1 now allows brokers to search by price or rate. A search returns a single rate stack or gives users the ability to expand and drill in to see a wholesale lender’s entire rate stack for each loan program. Marketplace 2.1 continues the Lender Price standard of pricing accuracy, customization, flexibility, and an even cleaner design.
- Personalized and Composable UI: With a variety of skinning options and increased flexibility, Marketplace 2.1 users can now easily create a personalized pricing experience and an abundance of several different UI options, surpassing the limitations of single UI pricing platforms. This allows lenders to effortlessly customize their user interface using No Code or Low Code options. Lender Price users can accomplish tasks more swiftly and efficiently, ultimately boosting productivity.
- Fast Non-QM and Non-Agency Segmentation: Through Marketplace 2.1, loan originators can easily segment their searches and get even deeper access to a wide range of loan types including non-QM, DSCR, DPA’s, and home equity programs. Borrowers can receive an expanded set of product options to choose from, ultimately helping brokers stay competitive and win more business.
- Banner Advertising: Lender Price is the only pricing, product, and eligibility engine (PPE) in the industry that provides lenders with the ability to advertise their loan programs and pricing specials through banner ads. This unique offering is helping lenders raise additional awareness in front of a targeted audience and promote their programs right as brokers are pricing loans. Banner advertising is now available to wholesale lenders using Lender Price.
Lender Price is also taking its AI game even further. Being the first PPE to use Natural Language Processing (NLP), the company is poised to systematically utilize Large Language Models (LLMs) to enhance the pricing experience for lenders and borrowers. With the power of AI, the firm is aiming to revolutionize the industry, allowing lenders to seamlessly find the perfect loan program for customers. Lender Price continues to be the leader in introducing cutting-edge technology, equipping lenders with comprehensive tools to gain a competitive edge.
“Lender Price is committed to helping our clients stay competitive in this market with the best technology, exceptional customer service, and long-standing expertise required to succeed in this dynamic environment,” said Dawar Alimi, CEO of Lender Price. “By utilizing our suite of solutions that are built around existing customer feedback and constantly evolving, lenders can take advantage of features that help them stay competitive and get their products in front of more people.”
The company takes a thoughtful approach with AI, utilizing AI best practices prior to launching new products and services. Alimi explains, “Using proprietary pricing algorithms is a recommended choice in comparison to relying on OpenAI’s APIs, mainly due to security considerations and potential vulnerabilities, which have been highlighted as a significant concern by the CFP. Software companies in the lending industry should carefully consider the implementation of AI borrower-facing solutions, particularly when utilizing ChatGPT’s APIs.”
By leveraging robust capabilities and unique solutions offered through the Lender Price platform, lenders are finding new ways to stay ahead of the curve. With a relentless focus on developing technology that is extremely stable, accurate, cost-effective, and easy to use, Lender Price will continue helping lenders navigate a rapidly evolving mortgage landscape and stay competitive.
For more information about Lender Price, please visit www.lenderprice.com or follow us on social media.
About Lender Price
Lender Price delivers superior cloud-native technology to top banks, lenders, credit unions, and mortgage brokers. Built on a modern technology stack, our innovative solutions are user-friendly, configurable, and easier to integrate, resulting in improved workflow and pricing efficiencies. Awarded 2023 Technology Provider of the Year by the National Association of Mortgage Brokers and a HousingWire TECH100 winner seven years in a row, our proven pricing and product management platform is helping lenders reduce operational costs, enhance productivity, and improve profitability. We are committed to helping clients win more business and uncover additional opportunities through our advanced technology. Visit www.lenderprice.com or follow us on social media to get the latest updates.
SOURCE Lender Price