Mortgagetech Company Lender Price Receives Funding from Regions Bank

With housing markets across the country at an all-time high, banks are paying more attention to the mortgagetech space (and maybe you should, too). And, as evidenced in its new partnership with Lender Price, Regions Bank is no exception.

Along with the partnership agreement Lender Price inked with the $124 billion-asset bank, the California-based fintech will also receive an undisclosed amount of equity funding as part of the deal. This announcement comes just days after Lender Price unveiled an integration with Ellie Mae.

For its part, Regions aims to leverage the partnership to enhance its digital lending efforts by:

  • Simplifying interactions between bankers, borrowers, and the bank
  • Sending fewer information requests to consumers
  • Integrating additional data sources for approvals and confirmations
  • Offering faster responses

The Alabama-based bank serves customers across the Southern and Midwestern U.S., and has approximately 1,500 branches and 1,900 ATMs. Logan Pichel, Head of Regions Enterprise Operations said, “This investment in Lender Price and our working agreement provides important growth capital for Lender Price, aligns our mutual interests in digital transformation and continues to move us toward the goal of making banking easier for our customers.”

The funding portion of this agreement reflects the uptick in fintech investments as a whole in the first quarter of this year, when 26 alums raised $1.32 billion. That’s quite an upward trend when compared to the $230 million raised in the first quarter of 2017.

Founded in 2015, Lender Price demoed its mortgage origination automation at FinovateSpring 2017. The company’s technology contributes to banks’ efforts to compete with digital-only mortgage originators such as Quicken Loans’ Rocket Mortgage and SoFi. In fact, Bank of America announced today the rollout of its own digital mortgage service.

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This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Lender Price Integrates with Mortgage Management Solution from Ellie Mae

Cre8tech Labs’ Lender Price, a digital mortgage platform that provides a product pricing and eligibility engine and competitive, real-time analytics, has partnered with fellow Finovate alum Ellie Mae. The Pasadena, California-based company, which demonstrated its PPE engine at FinovateSpring last year, will integrate its technology with Ellie Mae’s all-in-one mortgage management solution, Encompass. “Our pricing engine coupled with our real-time competitive analytics platform provides actionable insight into competitor pricing,” Cre8tech Labs President and CIO Dawar Alimi said.

Lender Price gives mortgage loan originators an openly accessible marketplace to price mortgage loans with hundreds of lenders in real-time. The company’s PPE engine can handle producing pricing and eligibility across all mortgage products including Conforming, Non-Conforming, Specialty Loans, and Hard Money, making it a more flexible solution compared to pricing engines built over a decade ago that are still commonly used.

“We are delighted to partner with Ellie Mae,” said Jerry Halbrook, who joined Lender Price as CEO in September. “Our secure, seamless integration with Encompass enables our clients to simplify the process of managing Products, Pricing and Eligibility, so they can more efficiently process mortgage loans and grow their business. We look forward to a long, successful relationship with Ellie Mae.”

Lender Price is the second Finovate alum to team up with the cloud-based mortgage finance platform provider this year. In March, Finicity announced that it was integrating its digital verification technology into Ellie Mae’s Encompass solution. Ellie Mae SVP of business development Parvesh Sahi said this underscored Ellie Mae’s commitment to working with technology partners to improve the way it serves customers and “change the way lenders and consumers engage in the loan manufacturing process.”

Founded in 2015, Lender Price demonstrated its technology at FinovateSpring 2017. With more than 85 partners and more than 30,000 registered users, Lender Price also recently partnered with Black Knight to integrate its LoanSphere Empower LOS into Lender Price’s POS solution. Last fall, the company was named a 2017 HW Tech100 Winner by Housing Wire.

Also demoing its technology at FinovateSpring 2017 last year, Ellie Mae showed how its Encompass Connect SolutionsConsumer Connect and Developer Connect, help lenders improve the application process for customers and provide developers with tools to quickly add new features and customizations to the platform. In March, Ellie Mae launched its Encompass Data Connect solution, which provides mortgage lenders with real-time data to help them make better lending decisions.

Finovate Alumni News


  • Lender Price Integrates with Mortgage Management Solution from Ellie Mae.
  • WorkFusion’s $50 Million Round to Fuel Robotic Process Automation.
  • $1.32 Billion Raised by 26 Alums in Q1 of 2018.

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This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.