Integration of Lender Value product and pricing engine allows CMS shoppers to supply, worth and lock mortgage loans in actual time.
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Mortgage mortgage origination and servicing software program supplier Constellation Mortgage Options (CMS) has partnered with product and pricing engine Lender Value to allow shoppers to supply, worth and lock loans in actual time.
CMS, which was often called Mortgage Builder when it was acquired in 2019 by Toronto-based Constellation Actual Property Group (CREG), rebranded in April as a part of a push to be seen because the “gold customary in mortgage origination tech” with this month’s launch of its new mortgage origination system (LOS), NOVA.
The mixing of Lender Value with NOVA offers customers entry to a cloud-based product and pricing engine (PPE), automated underwriting system (AUS) and analytics suite, the businesses mentioned in announcing their partnership Tuesday.
“Each integration we make is designed to deliver our lenders finest in school fintech, and our partnership with Lender Value is the most recent instance,” CMS President Stephen Ryczek mentioned in a press release. “In our seek for an unique PPE companion, Lender Value demonstrated the best-in-class resolution for our new LOS, NOVA, and absolutely aligns with our imaginative and prescient for the way forward for mortgage origination that outperforms all of our opponents.”
Mortgage product pricing engines automate the method of offering debtors with customized mortgage choices based mostly on their credit score, earnings and different distinctive circumstances, permitting them to lock charges. Lender Value is a cloud-native, software-as-a-service (SaaS) pricing engine.
In partnering with CMS, Lender Value beat out rival PPE options like Black Knight’s Optimal Blue, Zillow Group’s Mortech and OpenClose’s DecisionAssist. Black Knight additionally gives a product and pricing engine within its Compass loan origination system, as does ICE Mortgage Know-how, supplier of the Encompass mortgage origination system.
Launched in 2015 and based mostly in Pasadena, California, Lender Value claims to be essentially the most versatile pricing engine in the marketplace, offering product pricing and eligibility for all mortgage sorts together with non-conforming, non-QM, laborious cash and residential fairness packages.
“We’re completely thrilled to companion with Constellation Mortgage Options,” Lender Value founder and CEO Dawar Alimi mentioned in a press release. “Collectively, we’re devoted to offering our customers with the most effective pricing know-how in lending. Our mixed efforts will assist drive a superior person expertise for CMS shoppers.”
Southfield, Michigan-based CMS’ dad or mum firm, Constellation Actual Property Group owns a portfolio of brands together with Market Leader, TopProducer, Real Estate Digital (RED), Smartzip and Constellation1, which in April signed a deal with Redfin to energy house search and different itemizing companies within the firm’s new markets.
CREG is a division of Constellation Software program Inc., an organization traded on the Toronto Inventory Trade with a market capitalization of $29 billion ($39.8 billion Canadian).
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