Solutions Overview

eSTYLE PreQual Engine helps mortgage brokers, direct and wholesale lenders faster and easier select, compare, and price mortgage loans. It matches a prospect borrower’s profile with underwriting and pricing conditions set forth in lender guidelines. It determines borrower eligibility and resulting interest rates for a wide selection of program and loan types.

eSTYLE PreQual Engine handles loan selection, comparison, pricing, and pipeline management for mortgage brokers, retail lenders and wholesale lenders. It is available as an online subscription service for loan officers and mortgage companies, or as a branded service for lenders and multi-branch mortgage companies.

Online Service for Brokers

The online subscription broker service is designed for individual loan officers and mortgage brokerages of up to 15 loan officers using a non-correspondent or wholesale program base. PreQual Engine is available for a fixed user-based monthly fee that can be automatically billed to a credit card. To start your free trial, go to our Free Trial page. For more information, see our Mortgage Broker page.

Privately Labeled Service for Wholesale Lenders

This privately labeled service offers all of the PreQual Engine capabilities while strengthening your brand among the broker community. You retain complete control over your mortgage business, customers and account executives, while we work in the background delivering the prequalification and pricing services for your proprietary programs.

With the PreQual Engine branded service, customers and employees access PreQual Engine from your website and the entire service is customized according to your lending practices, handles your workflow from loan selection to submission to processing, and manages your broker base from registration to approval. With the PreQual Engine branded service, you have the added features of advanced usage reporting as well as loan program set-up and real-time loan program updates. For more information, see our Wholesale Lenders page.

Privately Labeled Service for Direct and Retail Lenders

For these lenders, we setup a dedicated and privately labeled online prequalification and loan pricing service. We customize the selection of the searchable correspondent programs to include only those you are approved with, as well as specific guidelines / conditions you might have with your correspondents, such as SRP.

This service helps you streamline and simplify the borrower approval process, benchmark loan officer productivity and help them track their loan portfolios. It is the right solution for multi-branch mortgage companies that have their own line of credit and use correspondent programs. For more information, see our Direct and Retail Lenders page.

Customization of Loan Programs

Loan program customization comes with privately labeled and corporate accounts. It is a very useful feature if your loan officers and account executives work with correspondent programs, or if you as a lender have your own (proprietary) programs.

Correspondent programs provide a greater flexibility in terms of yield spread and servicing premium. This is why larger wholesalers prefer to work with the correspondent programs as opposed to regular wholesale products. Many brokers require that their loan officers use the correspondent programs, and refer to the wholesale programs on the exception basis.

Usually, correspondent programs are specifically tailored to your lending institution; for example, include specific SRP conditions, rates, and adjustments.

Loan program customization ensures that the account executives and loan officers use the loan programs specifically generated for you by the investor.

The correspondent loan program customization consists of the following steps:

  • Selection of the approved correspondent lenders
  • Identification of correspondent programs specifically tailored to your lending institution
  • Initial population of the loan program database with your selected programs
  • Setup of the automatic update procedure

The proprietary loan program customization consists of the following steps:

  • Encoding of your program guidelines, rate sheets, and matrices in our programming language
  • Setup of the automatic update procedure

 

 
Copyright © 2001-2009 eSTYLE Software Corp. All rights reserved.