NYLX ADDS UNPRECEDENTED MARKET TRANSPARENCY FEATURES TO LOANDECISIONS

Originators and investors benefit from up-to-the-minute, 99.9995% accurate access to investor rate and guideline changes, plus several other enhancements to increase profitability

NYLX, the mortgage industry’s leading provider of point-of-sale product eligibility and pricing technology systems, has significantly enhanced LoanDecisions, its all-in-one product eligibility and pricing engine. The enhancements, which include real-time investor change notifications, re-pricing auto alerts for specific loans currently in the pipeline, and a new lock status report feature, enable companies to achieve higher profitability. They also offer the assurance of 99.99995% accuracy in accessing up-to-the-minute rate and guideline changes, along with higher visibility into lock status for managing the pricing of locked loans.

“At a time when pricing and guideline changes frequently occur throughout the day, mortgage professionals are in desperate need of a solution that works with them, not against them, in managing this uncontrollable feature of the market,” states John Alexander, president of NYLX. “By adding these alerts we’re providing mortgage professionals the confidence that comes with 99.99% accuracy of information along with up-to-the-minute access to the most current investor rates and guidelines. At NYLX, we’re updating information with unmatched speed so that originators don’t miss out on opportunities.”

Using state-of-the-art technology, NYLX’s Investor Intra-Day Re-Pricing Notification System alerts NYLX users via email of loan re-pricing, just minutes after it is announced from the investor, and also displays a visual warning in the LoanDecisions system. A second email alert is also sent to the customer confirming the most recent rates are available in the system. “One of the great added benefits of the Investor Re-Price Notification System is that it protects the secondary department from unknowingly confirming any locks for an originator once a re-price has been announced, thus allowing them to be more efficient,” adds Steve Koenigsberg, vice president of NYLX.

The second notification enhancement, the Client Book Re-Price Alert System, allows loan officers to set auto alerts on files in the LoanDecisions client book based on movements in rate or yield, so loan officers can ensure that their loans are always priced optimally without having to manually re-price every loan in the pipeline. With the auto alert system, loans are automatically re-priced throughout the day and if any user-specified criteria are met, an alert email is sent directly to the loan officer. The system also displays rate and price ranges, offering loan officers quick and easy comparisons to original rates and prices.

In addition to the two notification enhancements, NYLX has also added a lock status information page within LoanDecisions that better facilitates the flow of information between loan officers and the secondary department. This printer-friendly page enables loan officers to check and monitor status of locked loans, stay apprised of any changes to the locked program and even gather notes from the secondary department.

“In today’s difficult climate where companies are closing down and downsizing, NYLX gives businesses a much needed way to increase profitability while still operating under the constraints of a slow but turbulent market,” explains Alexander. “Now originators can access rate and guideline changes virtually immediately, and with the highest degree of accuracy in the industry. They can make sure that their loans are priced optimally at any stage of the process, and even re-price pools of loans based on different documentation types. Right now, it’s all about operating with leanness and profitability.”

About NYLX
NYLX is the mortgage industry’s leading provider of point-of-sale product eligibility and pricing technology systems, as well as the leading supplier of real-time market data for the mortgage industry. NYLX’s solutions are utilized by many of the mortgage industry’s top brokers, lenders and investors, including Wells Fargo, CitiMortgage, Fannie Mae and Freddie Mac. LoanDecisions, the company’s flagship product, offers the most powerful, flexible and feature-rich product eligibility and loan pricing system available, while BrokerToolz is an all-in-one product and pricing system designed specifically for brokers. NYLX’s LoanBook is the industry’s only automated ‘mark-to-market’/mass pricing tool designed for secondary managers to optimize pricing on loans sold to the secondary market. NYLX also hosts the NYLX Exchange, the industry’s only source of timely competitive market information resulting from the billions of dollars worth of originations that pass through the NYLX system each day. To learn more about NYLX and maximizing profitability on every loan, visit http://www.NYLX.com or call 866-557-NYLX (6959).