United Community Mortgage Implements PriceMyLoan

Posted by Orb Staff on July 31, 2009 No Comments
Categories : Residential Mortgage

Community Mortgage Corp. (UCMC), a national wholesale and retail mortgage lender, has successfully [link=http://www.pricemyloan.com/press/press-releases/pr_062409.asp][u]deployed[/u][/link] PriceMyLoan's automated underwriting and loan-pricing engine. The Web-based platform allowed UCMC to unite its remote locations during a time of intense lending activity, the companies say. ‘We've more than doubled our loan volume in the past few months,’ says Mike Lucey, director of secondary marketing at UCMC. ‘Our biggest concern was keeping turn times within our usual 48-hour window." The platform's loan management features enabled UCMC to fully process, underwrite and lock loans, without leaving the system, PriceMyLoan says, resulting in the elimination of several resource-intensive steps and decreased circulation of paper documents. Lucey says the lender is saving at least $1,000 a week from productivity gains offered by the software. ‘We don't need to jump through the hoops of e-mailing, faxing, downloading, double printing – everything occurs electronically, and information is exchanged more accurately in real time," he adds. SOURCE: [link=http://www.pricemyloan.com/]PriceMyLoan

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United Community Mortgage Implements PriceMyLoan

Posted by Orb Staff on June 23, 2009 No Comments
Categories : Residential Mortgage

Community Mortgage Corp. (UCMC), a national wholesale and retail mortgage lender, has deployed PriceMyLoan, an automated underwriting and loan pricing engine. The Web-based platform allowed UCMC to unite their remote locations. PriceMyLoan provided UCMC with an online portal for loan originators to qualify, price and submit rate locks directly to their pricing desk. The integrated platform allows originators to upload loan files from various loan origination systems and electronically transmit loan data to their processing, underwriting and secondary marketing departments. ‘We don't need to jump through the hoops of e-mailing, faxing, downloading, double printing – everything occurs electronically, and information is exchanged more accurately in real time," says Mike Lucey, director of secondary marketing at UCMC. "We're saving at least $1,000 per week from the productivity gains alone.’ SOURCE: Pric

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