Real estate Web site Zillow.com says it will be rolling out Zillow Quote API, a new feature within Zillow Mortgage Marketplace that allows participating lenders to automate custom quotes to borrowers who submit loan requests, starting with five technology providers: Leads360, Mortech, Mortgagebot, NYLX and Optimal Blue. The new program leverages an application programming interface (API).
Zillow Quote API provides a way for lenders to streamline the loan request process without compromising the customization of the quotes for borrowers, Zillow says.
Once a request is submitted by a borrower to the Marketplace, lenders using the API will receive the full set of details the borrower entered in an automated fashion. Lenders will be able to use their pricing engines to instantly create custom loan quotes based on the detailed information the borrower has provided. The quote is then automatically sent back to Zillow, where the borrower can view it.
SOURCE: Zillow