Sollen Technologies, an Internet-based application services provider of product, pricing and best-execution capabilities for the mortgage industry, has been selected by Georgetown, Texas-based Home Source Mortgage to use its full suite of products – Lender Online, Best Ex and Rate Sheet Generator.
These applications allow Home Source to add branches to its network from other states, essentially quadrupling loan volume, says Sollen Technologies. Home Source, established in 1999, is looking to expand its online operations through the use of Sollen's technology. Currently, Home Source processes approximately $75 million in loan volume a year. The firm expect this number to surpass $250 million with the addition of Sollen's technology.
Sollen's Lender Online tool is a Web-based solution offering a complete pipeline management system with access to multi-channel, multi-lender data. Best Ex is a tool that enables the lock desk to search for more profitable options on the secondary market by comparing all eligible products and prices in real time. Rate Sheet Generator gives lenders the tools to gather data required to produce and maintain custom rate sheets and deliver them electronically.
‘Home Source had a specific need to address and Sollen provided the solution. Our system has allowed them to increase their capabilities and maximize loan potential,’ says Michel Van Hee, CEO of Sollen Technologies. ‘Our technology is extremely scalable and designed to enable significant growth within a mortgage operation."
Source: Sollen Technologies