Mortgage origination technology firm Mortgage Machine Services now offers an artificial intelligence (AI)-powered pricing engine that ingests and updates pricing for a lender’s investors and aggregators automatically.
With granular controls for administrators, including global and product-level pricing adjustments, real-time lock controls, and mark-to-market tracking against current market conditions, lenders can streamline secondary market processes, the company says.
“Our clients are already delivering outstanding feedback,” says James Cassinelli, chief operating officer, Mortgage Machine, in a release. “One client told us that the pricing engine provides great benefits and increases efficiency by reducing the friction introduced by pairing a separate pricing engine with an LOS. Instead of updating pricing details between two different solutions, loan officers can do it all in one.”
Using the pricing engine, loan officers can compare rates and see principal and interest breakdowns without switching screens or performing manual calculations. The pricing engine’s Best X feature allows users to efficiently identify the most competitive rates for their borrowers.
“We see the pricing engine as a necessity, rather than the bow on top,” says Cassinelli. “We have fully integrated the engine with Mortgage Machine’s loan origination system at no extra cost to our LOS users.”
