Opteum Joins PriceMyLoan for Loan Product and Pricing Support

PriceMyLoan Adds Opteum to Growing List of Investor Relationships 


COSTA MESA, Calif., Oct. 11  /PRNewswire/ -- Opteum Funding, the conduit division of Opteum Inc. (NYSE:OPX), is now providing testing and validation for PriceMyLoan (PML), a provider of automated underwriting and loan pricing technology. The relationship with Opteum adds to PML's strong list of investors participating in their Platinum Investor Program (PIP).

PriceMyLoan, a web-based automated underwriting and loan pricing engine, is leading the drive to equip small and mid-tier lenders with the most accurate automated underwriting and loan pricing technology. The private-label system allows correspondent lenders to approve and price loans for multiple investor products. PML uploads investor guidelines into its system and then maintains those guidelines.

Relationships with investors such as Opteum enable the PML system to operate at a higher level of accuracy and accountability. As a PIP participant, Opteum Funding will continually validate its loan products and pricing and will provide feedback to PML on the accuracy of guidelines and pricing results.

"Although PML is already the most accurate system available, the PIP initiative gives us and our clients an increased level of confidence," says Gigi Campbell, National Sales Director for PriceMyLoan. "We're proud to add Opteum Funding to our growing cadre of Platinum Investors. Companies such as Opteum recognize that PML is more than a tool for lenders; it's a manageable opportunity to increase support to their correspondents and drive greater efficiencies throughout the lending process."

"It is in Opteum's best interest to ensure that our loan products and pricing are presented accurately at all times," says Richard S. Donine, Vice President for Conduit Marketing. "PriceMyLoan provides our correspondents with a platform opportunity. This enables those correspondents to provide specific underwriting and pricing details directly to their origination channels.

"The accurate underwriting results and pricing supported by PML will benefit the originator, lender and investor," Donine adds. "As a result, Opteum can expect the process from loan origination to loan purchase to be more efficient and potentially more streamlined."

About PriceMyLoan

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.

About Opteum

Opteum Inc. is a real estate investment trust (REIT), which operates an integrated mortgage-related investment portfolio and mortgage origination platform. The REIT invests primarily in, but is not limited to, residential mortgage-related securities issued by the Federal National Mortgage Assn. (Fannie Mae), the Federal Home Loan Mortgage Corp. (Freddie Mac) and the Government National Mortgage Assn. (Ginnie Mae). It earns returns on the spread between the yield on its assets and its costs, including the interest expense on the funds it borrows. Opteum's mortgage origination platform, Opteum Financial Services, originates, buys, sells and services residential mortgages through 35 offices throughout the United States and operates as a taxable REIT subsidiary. 

DATASOURCE: PriceMyLoan.com



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