Broker Funding Solutions, a Division of Lehman Brothers Bank, Joins the LoanTrader.com Marketplace to Increase Volume and Efficiency.Business Editors IRVINE, Calif.--(BUSINESS WIRE)--Jan. 3, 2001 LoanTrader Inc., developers of the mortgage industry's leading B2B (Business to Business) Refers to one business communicating with or selling to another. See B2B e-commerce, B2C and B2G. B2B - business to business Internet marketplace See vertical portal and Web hub. , Wednesday announced it has added Broker Funding Solutions to its LoanTrader.com Marketplace, providing expanded access Expanded access refers to the inclusion of patients in a clinical trial for a new therapeutic treatment or chemical entity, where those patients would not satisfy the enrolment criteria for the scientific study in progress. to conforming and specialty loan programs for its mortgage broker members. Broker Funding Solutions takes a unique approach to wholesale lending by offering a variety of conforming and typical niche programs. The company's diverse product line offers products to help brokers structure more deals to fit customer needs, resulting in greater production, income and ultimately, referrals. Broker Funding Solutions is committed to aggressive pricing and exceptional customer service. "We are extremely committed to seeking out efficiencies in the mortgage marketplace. LoanTrader provides access to thousands of brokers throughout the country as well as automated pre-qualification and eligibility tools to help us maximize our production resources and increase volume," said Alan Speck, senior vice president, production, Lehman Brothers Lehman Brothers Holdings Inc. (NYSE: LEH), founded in 1850, is a diversified, global financial services firm. It is a participant in investment banking, equity and fixed income sales, research and trading, investment management, private equity, and private banking. Bank. "Through the LoanTrader.com Marketplace, we look to create a more streamlined and efficient transaction to ensure faster turnaround times (1) In batch processing, the time it takes to receive finished reports after submission of documents or files for processing. In an online environment, turnaround time is the same as response time. and ultimately, more closings." Currently, more than 5,500 mortgage brokers use LoanTrader.com to expedite the loan origination The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. process and access a wider selection of lending options. Brokers use the marketplace to obtain approvals from more than 50 participating wholesale lenders, where transactions exceed $3 billion. As a result, these lending professionals are able to provide consumers with real-time loan decisions and superior customer service when buying or refinancing a home. "LoanTrader's automated loan eligibility engine will allow Broker Funding Solutions to provide product and price discovery at the point-of-sale, while creating a supply of Internet originated loans that meet their product and underwriting guidelines -- all of this can now be done without any human intervention," said John Le, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , LoanTrader. "Adding Broker Funding Solutions to the marketplace will offer member brokers expanded electronic accessibility to a wider array of product offerings and loan options for their borrowers." About LoanTrader The leading software, service, and Application Service Provider (ASP), LoanTrader Inc. operates the LoanTrader.com Marketplace and LoanTrader Technologies. LoanTrader.com Marketplace unites mortgage brokers and lenders in real-time to expedite the loan origination process in the industry's first fully-automated marketplace. The marketplace is a free service for mortgage brokers providing a simple, fast, standardized method of sourcing loans from a single point of access. Leveraging the power of LoanTrader Technologies' exclusive Loan Transaction Management System (LTMS LTMS Laugh to Myself ) the marketplace offers lenders a low-cost solution by providing point of sale product and pricing information along with automated decisioning technology. About Broker Funding Solutions Broker Funding Solutions, a Division of Lehman Brothers Bank was created in March 2000. It is the wholesale origination platform for Lehman Brothers Bank, FSB (FrontSide Bus) See system bus. FSB - front side bus , which is a subsidiary of Lehman Brothers, the global investment bank. The bank provides a full range of community banking services to individuals in Delaware, as well as consumer financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. and products, such as mortgage and deposit products to high-net-worth clients. With headquarters in Delaware, the bank is expanding its capabilities through the Internet to provide banking services nationally, and plans to offer its products through strategic partnership with retail and financial organizations throughout the country. |
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