Yes, this is a press release. Leads 360 is a longstanding sponsor of lenderama, so I’m giving them a little PR. I’m nice like that.

Research indicates that providing pricing to prospects upon first contact dramatically increases odds of success

Los Angeles, CA, May 1, 2008 — Leads360 Incorporated, the market leader in lead management software, and NYLX, Inc. (New York Loan Exchange), the market leader in loan eligibility and best-execution pricing solutions, announced today that they have developed a seamless integration of their technology platforms to enable originators to accomplish in seconds what once could take hours to perform.

Leads360 and NYLX expect to significantly improve the workflow for loan originators by allowing them to quickly receive leads, contact those leads, and price loans for prospective clients. “Based on extensive third party research and our own proprietary data, we know that getting prospects on the phone and being able to provide loan packages without having to reestablish contact is a key driver for sales success. By incorporating NYLX’s best execution pricing and eligibility engine, we feel that Leads360 clients will be even more effective at capturing new and more profitable business,” said Nick Hedges, Leads360’s senior vice president of strategy.

The NYLX partnership will allow Leads360 clients to manage their leads effectively while providing clients with the most complete and actuate pricing data available. Pricing data from NYLX is permanently attached to leads in the Leads360 system, once loans have been priced. This allows for quick and easy retrieval of pricing information as well as instantaneous repricing if circumstances change, giving originators unprecedented customer response capabilities.

This partnership represents the first time that two large technology providers, servicing mortgage brokers and lenders, have fully integrated their platforms. Averaging as many as 50,000 loan pricings a day which equates to approximately $15 billion, NYLX is the most widely used provider of product eligibility and pricing (PPE) in the mortgage industry. Loan originators use Leads360’s platform to manage more than 15,000 new leads each day. Together, Leads360 and NYLX service a highly significant share of the mortgage originators in the United States.

“I know this will benefit our mortgage clients across the board” said Jeff Solomon, CEO of Leads360. “The value of accurate pricing and eligibility information is a key part of profitability for brokers and lenders. Anyone using the Leads360 platform will now be able to maximize their revenue by consistently choosing loan packages that are profitable and avoid time-wasting mistakes due to wrong or outdated eligibility requirements,” he added.

“Leads360 and NYLX share a strong commitment to making valuable data available to clients,” said Steve Koenigsberg, vice president of NYLX. “Integrating with the leading lead management platform has been a priority for us for a long time,” he continued. “We know that in the long run, our clients need to implement lead management in order to be successful and we are thrilled to support Leads360’s efforts to bring best execution to their clients. The level of integration we have been able to engineer is impressive,” he said. “It has never been easier to price loans in a high-velocity sales environment.”

Leads360 also announced that it is planning to bundle the NYLX PPE service into its new suite of mortgage products. The Leads360 Mortgage Suite™ will be available in May 2008 and is set to include NYLX PPE, Leads360 LeadDialer™, and Leads360 DNC Scrubbing Service™. NYLX will be made available à la carte, as well.

Share This

Mortgage Industry Professionals. Like what you see?
SUBSCRIBE for free by RSS or email, and never miss a post!