Sollen Technologies Adds 100th Customer; Pricing Technology Allows Lender to Better Compete.
SAN DIEGO San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. -- Sollen Technologies, an Internet-based application services See ASP and Web services. provider of product, pricing and best execution capabilities for the mortgage industry, announced that they have recently signed their 100th customer. Among those companies now employing Sollen's technology are: The Washington Savings Bank savings bank, financial institution that, until recently, performed only the following functions: receiving savings deposits of individuals, investing them, and providing a modest return to its depositors in the form of interest. , Bowie Bowie (b`ē), city (1990 pop. 37,589), Prince Georges co., W central Md.; inc. 1916. It is mainly a residential community. Points of interest include the Woodward Mansion (c. , Md., VIP Mortgage, Danvers, Mass., and Home State Bank, Crystal Lake, Ill.
"We compared Sollen with numerous other technology providers," said Eugene Sittinger, residential lending officer, Home State Bank. "One of the things that caught our attention was that the competitors compared their product against Sollen's. They were trying to convince us that they were better than Sollen. This showed us that Sollen is the benchmark for pricing technology."
Most of the new companies that have signed on will be using Sollen's LenderOnline pricing engines and all hope to achieve better efficiencies for the lending officers. "It will definitely increase our loan officer's time management ability," said Greg Dechenes, president and 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. of VIP Mortgage. "Our loan officers won't be looking at 45 different rate sheets and 45 different program guides, consolidating it all into one."
"We hope to get the best rates to our lenders, and loan officers to take a lot of stress off our backs off our backs (sometimes referred to by its initials, oob) is a radical feminist periodical published in Washington, D.C.. It has been published continuously since it was founded in February 1970, making it the longest-running feminist periodical currently ," said Sherry sherry [from Jérez], naturally dry fortified wine, pale amber to brown in tint. The term sherry originally referred to wines made from grapes grown in the region of Jérez de la Frontera, Andalusia, Spain; today it may refer to any of the Cavanaugh, wholesale assistant, The Washington Savings Bank.
LenderOnLine is a Web-based solution enabling online loan search, product validation See validate.
validation - The stage in the software life-cycle at the end of the development process where software is evaluated to ensure that it complies with the requirements. , pricing, registration, locking, loan status reporting and pipeline management for wholesale, retail, correspondent or call center applications. The program allows the originator Originator
A bank, savings and loan, or mortgage banker that initially made a mortgage loan that is part of a pool. Also, an investment bank that has worked with the issuer of a new securities offering from the beginning and is usually appointed manager of the underwriting to capture multiple lending options in one execution, searching loan types, loan products and documentation at the same time to find the optimal match for the borrower.
"We know that financial institutions and mortgage lenders are always seeking efficiencies that will allow them to spend more time focusing on the needs of their customers, and the Sollen suite of products permits them to do just that," said Michel Van Hee, CEO of Sollen. "We welcome this new group of customers and we expect to add many more over the coming years as more companies become aware of how our solutions allow them to effectively conduct their business and compete within the volatile lending business."
About Sollen Technologies
Headquartered in Dallas, Sollen Technologies is an Internet-based application services provider of product, pricing and best execution capabilities for the mortgage industry. Sollen Technologies' vision is to provide comprehensive products and services that bring measurable value to the retail, wholesale, and correspondent channels. The company's innovative technology helps to enhance the relationship between originators and lenders enabling both to effectively compete in today's marketplace. For additional information about Sollen Technologies, visit the company's Web site at www.sollen.com.