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 Solutions, Consumer 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.