PennyMac Broker Direct is now a Lender Price Marketplace Lender
Strong growth in Marketplace user base is attracting more wholesale lender participation. PennyMac is the thirteenth lender to join in the past six months.
PASADENA, Calif., Dec. 18, 2019 /PRNewswire-PRWeb/ -- Lender Price, a provider of mortgage loan pricing and origination technology, announced today that PennyMac Broker Direct has been added to their Marketplace pricing engine. PennyMac Loan Services, LLC (a wholly owned subsidiary of PennyMac Financial Services, Inc., NYSE: PFSI) is a multi-channel national lender headquartered in Westlake Village, California.
The Lender Price Marketplace pricing engine user base has grown five-fold since May 2019. The Marketplace has become a go-to resource for mortgage brokers to search prevailing pricing from multiple wholesale lenders. The addition of PennyMac increases the total number of wholesale lender partners to twenty-seven.
"We are aggressively growing our Broker Direct Channel and believe that brokers can leverage our Perfect Rate, Perfect Term and other granular pricing structures to grow their business" said Kim Nichols, Managing Director at PennyMac. "The Lender Price Marketplace is a valuable tool for brokers and we see this partnership as an opportunity to increase our visibility to brokers who could benefit from partnering with PennyMac."
Lender Price distributes the Marketplace pricing engine through a partnership with the National Association of Mortgage Brokers (NAMB), an industry trade group with over 6,000 mortgage broker members. Together, Lender Price and NAMB offer the Marketplace to all of its members at no cost.
"We're extremely pleased to partner with PennyMac," said Dawar Alimi, CEO and founder of Lender Price. "In just the past seven months, we've grown our user base by 500 percent and have added numerous lenders to the Marketplace.
This demonstrates the demand that mortgage brokers have for a convenient way to find loan products and lenders such as PennyMac that want to reach out to a broader customer base."
More information about Lender Price and Marketplace can be found at http://www.lenderprice.com and http://www.nambmarketplace.com.
About Lender Price
Lender Price is a California-based big data technology innovator and developer of digital mortgage lending technology, including the Digital Lending point-of-sale (POS) tool and an advanced product pricing & eligibility (PPE) engine. Lender Price provides all types of mortgage lending institutions – wholesale and correspondent lenders, banks, credit unions and mortgage brokers – with advanced technology designed to eliminate friction, increase transparency, and effectively engage with borrowers. For more information, visit https://lenderprice.com and https://digitallending.com.
About PennyMac Broker Direct
A division of PennyMac Financial Services, Inc., PennyMac Broker Direct is committed to providing a range of innovative solutions to help its brokers grow their business. The company offers competitively priced products across several categories, including FHA, VA and conventional, while backing them up with a commitment to providing an unmatched level of service. For more information, visit: http://www.pennymacbrokerdirect.com.
PennyMac Financial Services, Inc (NYSE: PFSI), is a specialty financial services firm with a comprehensive mortgage platform and integrated business focused on the production and servicing of U.S. mortgage loans and the management of investments related to the U.S. mortgage market. Additional information about PennyMac Financial Services, Inc. is available at ir.pennymacfinancial.com.
Media Contacts
PennyMac
Media Relations
Janis Allen
(805) 330-4899
Lender Price
SVP
German Centeno
626-486-0171
SOURCE Lender Price
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