Lender Price, a provider of digital origination solutions for mortgage lenders, and the National Association of Mortgage Brokers (NAMB) announced the release of NAMB Marketplace, a new loan origination tool that features a loan pricing engine and a digital loan portal.
NAMB and Lender Price are offering the NAMB Marketplace tool to all NAMB members at no cost, Lender Price announced in a press release.
“NAMB Marketplace puts power back in the hands of the mortgage broker,” NAMB President Rick Bettencourt said in the release. “We’ve seen other industries use technology to completely transform the way they do business. We believe NAMB Marketplace does exactly the same thing for mortgage brokers. We’re giving our members a powerful tool that normally would cost thousands of dollars for free. This will transform the way our members generate leads and service their customers.”
NAMB Marketplace is an online system that combines a loan price comparison tool with a digital point-of-sale platform. Originators input a loan scenario and the product pricing and eligibility (PPE) engine automatically compares real-time prices between 18 wholesale lenders. A wide range of product types are available, the release stated.
“Mortgage brokers have been underserved with technology,” Lender Price President and CEO Dawar Alimi said. “Even though there has been a surge of technology investment in the mortgage space, mortgage brokers are using outdated technology. We saw an opportunity to give brokers innovative, and useful, and modern technology and at the same time provide a marketing opportunity for lenders so that everybody wins. We’re proud to partner with NAMB.”