Rate Sheet Expiration (RSE)
Although PriceMyLoan constantly updates pricing throughout the day, there are certain scenarios when pricing is not current. This typically occurs before or after business hours, when investors are not updating rate sheets. During these periods, lenders need to prevent locks from occurring or risk losing business over stale pricing.

In order to avoid getting caught in a pricing limbo, PriceMyLoan has released Rate Sheet Expiration (RSE), a new feature that automatically expires pricing and prevents originators from submitting rate locks when investor rate sheets have not been updated. RSE, however, does not stop originators from doing business with lenders, as originators are allowed to submit loan requests on a floating basis.

Disable Pricing
Sometimes lenders are given advance notice of pricing changes and need an extra layer of protection beyond our Rate Sheet Expiration feature. The Disable Pricing feature gives lenders the ability to directly expire pricing on their own, without relying on our automated RSE process. Disable Pricing is a real-time interface that allows lenders to select a single product, a group of product types, or entire investor product lines to instantly prevent rate locks from being submitted.

Automated Underwriting System Interfaces

PriceMyLoan is now integrated with both Desktop Originator® / Desktop Underwriter® and Freddie Mac's Loan Prospector® systems, providing easy access to underwriting findings for conforming, FHA and VA loan products. GSE findings are automatically saved to the loan file and originators can even import existing casefiles directly into the system. The end result is comprehensive underwriting and loan pricing from one place, allowing lenders to capture more business and speed their origination process.

Providing originators with the most competitive pricing is one way to attract market share. Our Best Execution Pricing feature ensures that originators always get the best pricing available at any interest rate by leveraging lender relationships with multiple investors.

Best Execution Pricing automatically selects the best rebate pricing available at each interest rate level, making real-time comparisons between multiple investors to produce a merged rate sheet result. Originators no longer have to cross-reference different product families in order to maximize their profits, providing an easy and effective way for lenders to add value to their online services.