Sollen Technologies, an Internet-based application services provider of product, pricing and best execution capabilities for the mortgage industry, says that Oak Park, Ill.-based Community Bank of Oak Park River Forest has selected Sollen's loan pricing and pipeline management tool, Lender Online.
Lender Online allows the bank's loan officers to search thousands of loan products within seconds, the company notes. The product is a Web-based solution that offers access to multi-channel, multi-lender data from an easy-to-use interface. Lender Online allows a loan originator to verify a borrower's eligibility for products based on the individual's specific needs, provide real-time fully adjusted pricing, manage prospects, register borrowers and submit lock requests. Loan origination and back-office systems can interface with Lender Online using XML standards.
Founded in 1996, Community Bank of Oak Park River Forest now has $300 million in assets and operates two banking locations serving west Chicago. The bank has historically averaged $50 million in annual home mortgage loan volume.