Sollen Technologies, an Internet-based application services provider of product, pricing and best execution capabilities for the mortgage industry, announced Rockville, Md.-based Monarch Mortgage has chosen Sollen’s Lender Online, RateSheet Generator. Incorporating product and pricing engine technology from Sollen increases loan processing efficiency and saves time for loan officers.
Our company decided we were tired of handling paper rate sheets,” said Adam Quinones, secondary marketing manager for Monarch Mortgage. “Instead of spending a half-day reviewing rate sheets for accuracy, my updates only take 15 minutes. The product was installed within a week, not a month, and our loan officers are saving 75 percent of their time when finding a loan. Incorporating Sollen’s product and pricing engine into the loan process has given me the most affordable and efficient employee I could possibly have.”
Lender Online allows a loan originator to quickly match a borrower's eligibility for products based on their needs and provide real-time fully adjusted pricing. Monarch is using Lender Online’s private label option to mask the programs, which has allowed brokers to login and retrieve answers – reducing questions for Monarch’s staff.
RateSheet Generator automatically creates rate sheets using best execution for each product, rate and lock period. Profit margins can be customized before a rate sheet is generated. Monarch also requested access to investor guidelines, which is provided by Sollen that allows users to see the actual guidelines posted by the investor within the system.
“Monarch was impressed by the many features our technology is able to provide, as well as the time-saving benefits and improvements in customer service,” said Michel Van Hee, CEO of Sollen Technologies. “Additionally, the company is leveraging our private label technology to reach out to brokers and expand their market presence.”
About Sollen Technologies
Based in Dallas, Sollen Technologies is an Internet-based application services provider of product, pricing and best execution capabilities for the mortgage industry. Sollen Technologies’ vision is to provide comprehensive products and services that bring measurable value to the retail, wholesale, and correspondent channels. The company’s innovative technology helps to enhance the relationship between originators and lenders enabling both to effectively compete in today's marketplace. For additional information about Sollen Technologies, visit the company’s Web site at http://www.sollen.com.