New workflow within Marksman reduces lender risk by automating the AllRegs eligibility test.
LINCOLN, Neb.—Dec. 17, 2013 — Mortech, a Zillow® business providing mortgage technology software solutions for mortgage bankers and secondary market teams, today announced a new workflow within Mortech’s Marksman® pricing engine. Loan officers now can access and automatically incorporate investor underwriting guidelines via an exclusive partnership with AllRegs.
The new option now is available on both the product and rate screens within Marksman. Results are automatically color coded to let loan officers know at a glance if a borrower will qualify for a loan program based on the loan criteria entered. This will reduce errors and lender risk by ensuring the loan meets investor eligibility guidelines. Administrators also can choose to configure Marksman to hide ineligible results from loan officers.
“In today’s lending environment, investor compliance checks cannot be left to chance. The costs of non-compliance are too high,” said Don Kracl, vice president of mortgage tools for Zillow, Inc. “Since these checks are so important, it makes sense to run them automatically.”
Marksman has offered manual AllRegs® eligibility checks since 2006. But the manual process often led to the eligibility test being overlooked until later in the process, potentially disappointing borrowers late in the loan process. Automating AllRegs eligibility verification is aimed at improving the overall borrower experience.
About Mortech, a Zillow business.
Lincoln, Neb.-based Mortech was founded in 1987 to provide product and pricing engine solutions, including best execution pricing, AllRegs® eligibility, detailed profit structures and best execution PMI, 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 serves up 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 http://www.mortech.com.
Zillow, Marksman and Mortech are registered trademarks of Zillow, Inc.
AllRegs is a registered trademark of Mortgage Resource Center, Inc. Bankrate is a registered trademark of Bankrate, Inc. LendingTree is a registered trademark of LendingTree, LLC.