Now streaming: AI, Leads and outreach: What’s the state of AI in Mortgage Today?
More consumers are shopping for homes online and naturally finding their mortgage lenders online. As part of the mortgage product and pricing engine solution, a mortgage lender has the option to use a website embed that offers consumer-facing custom rate quotes or rate comparisons on their website. These tools would enhance the consumer's experience on the lender's website and create transparency to build trust and ultimately help convert a visitor into a high-quality lead. Mortgage pricing engines may offer these as a free add-on or additional charge to the lender. We will review our current and soon to support pricing engines and the consumer-facing website widgets features offered by pricing engines Optimal Blue, LoanSifter, Mortech, Polly.io and LenderPrice and compare those to BankingBridge website embeds. Many new mortgage products and pricing engines have hit the market in the last few years due to the hot housing market. There are new names such as Lender Price or Polly.io and more established names like Optimal Blue, Mortech and LoanSifter. The mortgage market probably has 8-10 product and pricing engines (PPEs) to choose from but the majority of market share is held by Optimal Blue and Mortech for the correspondent lenders and Loansifter for the broker market. Optimal Blue and Loansifter are owned by Black Knight which is currently in the process of an acquisition by ICE Mortgage Technologies to create a huge mortgage and real estate technology marketplace.
Company Summary - Optimal Blue, which is a division of Black Knight, continues to be one of the leading mortgage digital marketplaces. With different secondary marketing solutions, their platform has been a staple in the mortgage industry for over 15 years.
Price - Optimal Blue is an enterprise solution which requires a cost breakdown from an account executive. You can request more information here.
Coming Soon! Expected integration of November 2022.
Company Summary - Polly is a new to market pricing engine solution build for the mid to large mortgagre lender or mortgage bank. It is a revolutionary, end-to-end capital markets ecosystem that lenders trust to optimize performance from rate lock to loan sale and delivery. Effortlessly configure rules, dynamically manage margin strategies, and quickly distribute pricing across all channels to stay ahead of the competition and win more business. Improve loan sale execution by enabling data-driven decision-making with the industry's most innovative suite of mortgage solutions.At this time we do not know of any website pricing tools available through Polly.
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