COSTA MESA, CA - Victory Financial Group LLC, a leader in the financial marketing and technology industries, has successfully integrated PriceMyLoan's automated underwriting and loan pricing engine into their online mortgage lending platform, myTurboLoan. The integration between the two companies enables consumers to instantly pre-qualify and accurately price loans for their custom loan scenarios.
"We're thrilled to be working with PriceMyLoan," said Scott Harris, president and chief operating officer of Victory Financial Group. "As a technology company ourselves, we have certain expectations when we look for partners. PriceMyLoan's technology fit our needs well, but it was the level of cooperation that really impressed us. Their development staff is highly skilled, and they really went above and beyond to help us make the integration successful."
Victory Financial Group maintains a network of over 30,000 financial planners and real estate agents. They provide innovative technology solutions to these professionals in the form of custom websites, online tools and search engine optimization services. myTurboLoan is a featured tool that is used by their network to provide instant loan qualification and rate quotes to their clients.
The integration with PriceMyLoan greatly enhances myTurboLoan's ability to generate rate quotes, which are more accurate and realistic, for consumers. "Most lenders have online rate quote tools that are too optimistic," said Harris. "It's a 'bait and switch' approach that ends up making consumers unhappy. But now when consumers use myTurboLoan, the PriceMyLoan integration takes into consideration more information and details, such as a credit report, and provides a quote that truly matches their customized scenario."
Victory Financial Group took advantage of PriceMyLoan's specialized application protocol interface (API), a web service tool that streams data between myTurboLoan and PriceMyLoan. The PriceMyLoan API allowed them to harness the automated underwriting and loan pricing capabilities of PriceMyLoan and embed the results in a format that was customized for myTurboLoan.
"PriceMyLoan made changes to their API to meet our specifications in just two weeks," said Harris. "Their responsiveness and willingness to work with us just blew me away. It shortened our development time and allowed us to reach market faster than we expected."
PriceMyLoan is a proprietary product of Insight Lending Solutions (ILS). Founded in 2002, ILS provides web-based application service for the mortgage lending industry and software as a service (SaaS) to its clients to enhance productivity, reduce IT dependency, and accelerate time-to-value for mortgage companies. Combining advanced technology development using XML and MISMO standards with high-quality service, ILS provides its clients with solutions that result in reduced loan cycle times, improved pull through rates, and a lowered total cost of software ownership.
Source: PriceMyLoan