A mortgage business is only as good as its ability to price mortgage rates.
It doesn’t matter how good your team is or how strong your marketing campaigns are (though those things help), if they’re built under a mortgage pricing engine that doesn’t provide you with the best tools and services, they’re all for naught.
What makes a good mortgage pricing engine? What sets some businesses apart from others? For starters: automation. An automated engine that saves you time from having to enter and compare data means you can spend more of that time working with your borrowers. By not having to search, compare, and price mortgage product types based on specific scenarios or manually build in base price SRP, LLPAs, and profit margins, you can focus on communicating with and growing your business while knowing your backed by quick and accurate data.
Good mortgage pricing engines also allow you to view and compare data from a single interface. The ability to follow up with leads via email campaigns, lock notifications, and other lead management solutions from within your pricing engine is vital for retaining those interesting potential borrowers. Furthermore, integrating with your LOS to view pricing data from within it is another way in which integrating interfaces saves you time by keeping you on one screen.
Speaking of comparing data, a good pricing engine allows you to view and compare all of your investor data in on place. And by all, I mean however many investors you have. Whether it be one or 100, being able to view that data to make the best choice for your borrowers without having to sift through tons of data or webpages is what helps make a good pricing engine.
As you’re reading through these things, you might start to sweat over not having all of the functionality I’m mentioned, but don’t worry – Mortech does. Our pricing engine comes complete with these automated processes and integrated interfaces and engines that allow you to spend less time on data entry and looking at screens, and more time working on your business and relationships.
Want to know if your current pricing solution is providing you with everything it should be? Curious how Mortech can provide tools and services that make your business better? We have a free Mortgage Pricing Consultation on our home page that lets you see how your current pricing engine compares. Not to mention, you can always schedule a free demo with us, and we'll teach you more about what Mortech can offer your business.