Garden Grove, CA, August 01, 2008 --(PR.com
)-- Informative Research has introduced RatePro, a comprehensive loan program and pricing engine, in an effort to help mortgage originators prosper in an increasingly challenging market. Powered by industry-leading technology, RatePro accurately scans over sixteen hundred wholesale loan rate sheets daily to provide originators with accurate and complete pricing information to match their borrower’s loan scenario.
Integrating borrower credit data directly from the Informative Research credit report, RatePro returns detailed rates and yield spread premiums for over one hundred and fifty loan programs offered by over twenty-five national wholesale lenders.
Informative Research is offering the product on a per-transaction basis with no subscription fees. This allows a broker the flexibility of use without any undo cost concerns.
According to Tony D’Ecliss, Senior Vice President of Sales for Informative Research, RatePro is aimed at helping mortgage originators find more qualifying programs in a shrinking market and optimize pricing on every loan.
“It used to be that brokers could get by with just a few lenders and have competitive pricing across the board,” said D’Ecliss, “…but it just doesn’t work that way in today’s market. The brokers who are surviving are expanding their lender sources and focusing on pricing shifts from program to program.”
“RatePro helps originators find the best program from the best lender,” D’Ecliss added, “with the best rate and pricing for both their borrower and their bottom line. Brokers are also very happy with our flexible pay-per-use pricing. Informative Research is excited to offer such a powerful pricing tool at a time when brokers need it most.”
In addition to detailed loan program and pricing results, RatePro features custom search filters and a user-friendly display for comparing quotes between lenders and programs. Users can easily view basic underwriting guidelines and pricing adjustments for each quote and links are provided to the source rate sheets for a more traditional view.
RatePro’s pricing engine also displays comprehensive risk based price adjustments assuring that users get complete and accurate quotes for their borrowers. Informative Research believes this feature alone will attract originators who are subject to new and constantly changing adjustments. Lenders have significantly increased their use of risk based price adjustments in response to GSE program guidelines.
Said D’Ecliss, “We’ve heard horror stories regarding missed pricing adjustments. With the rate sheets now becoming more complex, RatePro offers originators a truly comprehensive and one-stop source for accurate pricing that just hasn’t been available until now.”
RatePro can be ordered through the Informative Research online credit system at informativeresearch.com.
About Informative Research
Informative Research, founded in 1946, is a leading provider of credit and mortgage-related information, serving the lending community. The company provides credit reporting services, credit rescoring programs, flood determination products and offers connectivity to a growing list of primary and secondary market lending channels. Based Garden Grove, Calif., Informative Research continually develops new technologies and cultivates industry relationships enabling customers to minimize risk, expedite the loan process and increase profitability. For more information, visit informativeresearch.com.