Lender Price, a provider of mortgage-origination and loan-pricing technology, has announced the release of FLEX Pricer, a pricing platform designed for non-QM and non-agency lenders. The FLEX Pricer supports all loan types, but is most effective with non-QM loan products, according to Lender Price. The platform allows lenders to create their own non-QM loan-pricing search tool without the cost of custom development.
“Most pricing engines have poor support for non-QM products,” said Dawar Alimi, founder and CEO of Lender Price. “As a result, non-QM lenders have limited options to market their products to brokers or borrowers. Many resort to building their own search tool with limited or no pricing capabilities. Our FLEX Pricer solves these problems and goes even further by allowing lenders to customize their interface to support a wide variety of non-QM criteria.”
The Lender Price PPE loan pricing engine is already used by several top-50 banks and mortgage lenders. FLEX Pricer leverages the Lender Price PPE engine and adds new capability to create custom criteria for non-QM and other niche lending products, Lender Price said.
“Non-QM lenders and brokers are looking to do business with each other,” Alimi said. “They both want an online tool that is easy to access, provides relevant information, and moves the process forward. Rate sheets are too passive for brokers. Lenders need FLEX Pricer because it’s the easiest, most effective way to let brokers know about their non-QM products.”