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Neighbor's Financial Corporation Saves Four Salaries with Sollen Technologies; Loan Product and Pricing Engine Pays for Itself within Days.

DALLAS -- Neighbor's Financial Corporation, based in Sacramento, Calif., reports that Sollen Technologies' solutions do the work of four people, saving the company time and money. Sollen Technologies is an Internet-based application services provider of product, pricing and best execution capabilities for the mortgage industry. Neighbor's Financial Corporation is a small mortgage company, with 84 loan officers licensed in Nevada, California and Idaho, that processes approximately 110 loans each month. The company has used Sollen's LenderOnLine, BestEx and Ratesheet Generator at its five branches for more than three years.

Lender OnLine is an online loan search application that facilitates product validation, pricing, registration, locking and loan status reporting for wholesale, retail and correspondent lenders. The system matches each loan with the optimal investor by comparing the qualified loan products and prices. This traditionally manual, time-consuming process is simplified with Sollen Technologies' automated system, saving loan officers hours per loan and ensuring accuracy with real time pricing.

"Sollen's technology is a godsend. It paid for itself in just a few days, and it allows me to be more competitive in the market, giving better products at a better price," said Gregg Mower, chief financial officer for Neighbor's Financial Corporation. "Neighbor's has tripled in size and production in the past three years, and Sollen's solutions definitely played a part in our substantial growth."

Best Ex is Sollen Technologies' Web-based pricing engine and loan product development solution that creates best execution models. It allows for virtually any guideline, rate or price adjustment to be delivered in multiple formats through multiple distribution channels. Ratesheet Generator enables lenders to easily construct rate sheets, sorting investors according to best execution for each product, rate and lock period.

"Neighbor's Financial uses Sollen's technologies to empower their business," said Michel Van Hee, CEO of Sollen Technologies. "We will continue to improve our suite of product and pricing solutions to support their rapid expansion."

About Sollen Technologies

Based 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.
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Publication:Business Wire
Date:Nov 21, 2005
Words:396
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