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| December 3, 2007 - NYLX |
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NYLX LAUNCHES LOANBOOK, A FIRST-OF-ITS-KIND PRICING ENGINE Technology enables lenders to optimize pricing on every loan being sold to investors NYLX, the mortgage industry’s leading provider of point of sale product, eligibility and pricing technology systems, has announced the launch of LoanBook, the industry’s first pricing engine specifically designed to help lenders achieve the highest available profits on each loan they sell to secondary market investors. Transcending beyond best execution pricing at the point of origination, LoanBook continually monitors loans in process, actively compares them against loan programs currently available on the market, and automatically alerts the secondary manager of pricing improvements. With LoanBook’s analysis, lenders are empowered to make immediate pricing decisions that can bring revenue increases of 20 to 30 percent per loan or more depending on market fluctuations. Prior to LoanBook, secondary managers had no choice but to manually gather, sort, track and analyze investor pricing information, a task that is not only time consuming, but also error-prone and laborious. Because it is nearly impossible to manually gather the level of data needed to make a fully informed decision, lenders have been placed in the precarious position of sacrificing additional revenue, simply because they lack the resources to access the information they need to secure better pricing. LoanBook solves this issue by empowering secondary managers with a quick, easy and cost-effective way to maximize revenue on every loan they sell, whether on a bulk or flow basis. In a matter of moments, users are empowered with all the information they need to make decisions that result in higher per loan revenue. “Especially in the today’s market, lenders are looking for more ways to increase revenue without having to generate more volume or charge more to the borrower,” states John Alexander, president of NLYX. “LoanBook provides that solution. LoanBook is the first pricing engine that leads secondary managers to revenue that would otherwise be left on the table. Lenders get higher profits without adding more volume, more staff, or increasing costs to the borrower.” A web-based subscription service, LoanBook searches its preloaded database of approved investor programs, locates the program with the optimal yield based on each loan’s unique criteria, and notifies the secondary manager when loans reach a specific profit threshold based on dollar revenue or yield spread. Users then have the choice to lock or float rates based on the detailed, dollar-valued yield listed for each loan. LoanBook was released on a limited basis during the summer and has already been utilized with great success by several lenders. “LoanBook is a cutting edge tool that all mortgage bankers should be using to help manage risk and maximize loan by loan profitability,” states LoanBook user Joseph Baio, director of Secondary Citizens Community Bank - Mortgage Division. “NYLX is on the forefront with the development of this tool and there isn`t any other product out there like it.” ”At a time when lenders are concerned about dipping revenues, LoanBook offers a way to increase profitability regardless of market conditions,” adds Alexander. About NYLX As a leader in data management, eligibility and best execution pricing solutions, NYLX brings value to thousands of members within mortgage banking and brokerage firms nationwide. Many of the mortgage industry’s best-known companies subscribe to NYLX’s services in support of their data, eligibility and time-sensitive pricing needs. NYLX empowers users to instantly compare product eligibility and pricing among their selected investors, by granting users access to the largest authorized database of product and pricing data from national, regional, and local investors. With NYLX, complex and labor-intense product decisioning and best-execution pricing become simple, fast, and affordable allowing companies to adapt to market conditions in real-time, make smarter decisions, and achieve better executions on all transactions. To learn more about NYLX, visit www.NYLX.com or call 866-557-NYLX (6959). PRESS CONTACT: |
| NYLX by Rosalie Berg, Mt. Arlington-NJ |
