Mortech’s historical pricing feature provides enhanced re-pricing workflow and added compliance security via side-by-side loan scenario comparison.
LINCOLN, Neb.—November 18, 2014 — 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:
- Investor pricing
- Lender profit and cost
- Loan level pricing adjustments (LLPAs)
- Loan officer compensation
- Service release premiums (SRPs)
- Average prime offer rates (APOR index)
“Loan data transparency and accuracy are essential for 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® 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 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.