In order to optimize their automated underwriting and loan pricing engine, PriceMyLoan has introduced the Platinum Investor Program (PIP), marshalling the direct assistance of investors whose loan products are included in their system to perform testing and validation.

Tri-Star Lending Group, a division of Pinnacle Financial, is working with PriceMyLoan to provide direct testing and verification of PML’s automated underwriting and loan pricing engine.

"We have the most accurate automated underwriting and pricing engine in the industry," says Gigi Campbell, National Sales Director at PML. "But investor products change and guideline interpretations are not always clear. By working directly with us, investors such as Tri-Star ensure that their correspondents are providing accurate pricing and approvals using PML."

PIP investors can use the PML engine to input loan scenarios and credit report information. Results generated by PML are checked for guideline and pricing accuracy by the investor. Any discrepancies or changes are communicated directly to PML engineers, where updates are released immediately to every PriceMyLoan client using that investor’s loan products.

"Anything that helps our correspondents grow is good for us," remarks Janet Peters, Vice President of Correspondent Lending at Tri-Star. "PML has proven extremely effective in helping correspondents promote our loan products. Working with PML helps everyone involved by ensuring smooth and efficient underwriting and delivery of loans. We couldn’t be happier."

About PriceMyLoan

PriceMyLoan (pricemyloan.com) is a proprietary product of Insight Lending Solutions (ILS). Founded in 2002, ILS provides web-based application service for the mortgage lending industry and software as a service (SaaS) to its clients to enhance productivity, reduce IT dependency, and accelerate time-to- value for mortgage companies. Combining advanced technology development using XML and MISMO standards with high-quality service, ILS provides its clients with solutions that result in reduced loan cycle times, improved pull through rates, and a lowered total cost of software ownership.

About Tri-Star Lending Group

Tri-Star Lending Group (www.tristarlendinggroup.com) is the wholesale and correspondent lending division of Pinnacle Financial Corporation (www.pinnaclefinancial.com), one of the nation’s fastest growing independently-owned direct mortgage lenders. The company works directly with Wall Street investors to design residential mortgage products that are unique to the industry. Founded in 1988 and headquartered in Orlando, Fla., Pinnacle Financial is licensed in 48 states and employs more than 1,100 people. The company closed more than $5.5 billion in residential mortgage loans in 2005.

Source: PriceMyLoan.com

CONTACT: Jan Thomas of Seroka Public Relations for PriceMyLoan.com,
+1-262-523-3740, or jan@seroka.com

Web site: http://www.pricemyloan.com/
http://www.tristarlendinggroup.com/
http://www.pinnaclefinancial.com/

Company News On-Call: http://www.prnewswire.com/comp/143444.html

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Loan officers and mortgage brokers spend hours calling or e-mailing wholesale account executives to see if a difficult loan scenario meets an investor’s underwriting guidelines and whether or not their rate is the most competitive.”Whenever I get an application for a tough loan that most lenders wouldn’t touch, I have to spend hours calling and e-mailing numerous sub-prime and hard money lenders to see if anyone could fund the loan.” said, Jim Martens, a loan officer in Rockville, Maryland, whose business mainly consists of Alt-A and sub-prime loans. “Being able to fill out just one short form online that will be seen by hundreds of account executives, within seconds of submission, is going to save me at least five hours of tedious work every week. This will allow me to originate at least one or two more loans and it doesn’t cost me anything.”

Broker Network, based in Maryland, has developed a software program that will generate an RSS feed as soon as a loan scenario is submitted by a mortgage broker. The RSS feed will be available to all wholesale account executives who subscribe to the service, which is completely free to mortgage brokers. For a small subscription fee, wholesale account executives will now have instant access, on their desktops and cell phones, to fresh, hot leads from motivated mortgage brokers looking for a lender.

According to Julian Bond, who developed this software program and business model, no one in the mortgage industry has ever used RSS feeds for submitting loan scenarios and pre-qualification data to wholesale lenders. “As far as I know, we are the first to have developed this solution” said Mr. Bond. He also hinted that soon his company will be launching a retail lead generating platform using a similar concept but with much more security features to protect the confidential data of prospective borrowers. Currently this product is only available to mortgage professionals. For more information on how to become a member of Broker Network and subscribe to this service please contact Julian Bond via e-mail: broker@brokerwatchdog.com or visit his Blogazine at www.brokerwatchdog.com.

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