First Free Mortgage Eligibility System, Pay-As-You-Go Loan Pricing Engine and Information Portal Launched by NYLX
LendingArt offers no-charge, 24/7 access to information that enables brokers, lenders, investors and consumers to make superior mortgage decisions, more quickly and easily than ever before MT. ARLINGTON, N.J., June 2 /PRNewswire/ -- NYLX, the mortgage industry's leading provider of point-of-sale product eligibility and pricing technology systems, has launched LendingArt (www.LendingArt.com), the mortgage industry's first no-charge information portal that provides reliable and specific loan product eligibility and pricing information, as well as the most current, extensive mortgage industry news and information. In addition to free eligibility and pay-as-you-go loan pricing, LendingArt offers unique properties and tools such as a program and guidelines search engine, a scenario desk, investor news and profiles, a business and events directory, and a messenger tool that updates subscribers on program guidelines, rates and loan requirements as they occur.
"There has never been a gateway into the mortgage industry like this before, and it is desperately needed," states Howard H. Conyack, Jr., founder and CEO of NYLX. "Now, literally everyone involved in the mortgage transaction, from borrower or mortgage broker to lender or secondary market investor, can access the critical information, at little or no cost, that makes it faster and easier to make the most profitable and economic decisions." With LendingArt, users can navigate through the vast network of mortgage industry resources and obtain detailed product eligibility and loan pricing information, research investors, look up industry events and even read articles from popular journals and blogs. Additionally, the site's business financing search engine offers a commercial lending marketplace for individuals seeking business loans, commercial mortgage loans and equipment lease financing.
One of the greatest features of LendingArt is the seamless and bi-directional integration with the Calyx Point system right from the user's desktop, which eliminates re-keying, time-consuming and costly computer systems integration. To get started with LendingArt, users simply submit an email address and password to create an account. If users need to price loans, they can establish a 'bank' for as little as five dollars. So far, feedback from beta testers has been very positive. "LendingArt is not only informative, but it's also extremely helpful," says Frank J. DelPesce, national sales manager at Florham Park, New Jersey-based MLD Mortgage. "Whether I'm looking to browse investor guidelines, view key economic indicators or search for the next industry trade show, it's all there on one website. It's the first website I go to in the morning, and go back to it throughout the day." "We're very excited to make such comprehensive mortgage information available to anyone who is seeking it," says Conyack. "By doing so, we foster responsible and educated lending, a win-win for the entire mortgage industry."
About NYLX NYLX is the mortgage industry's leading provider of point-of-sale product eligibility and pricing technology systems, as well as the leading supplier of real-time market data for the mortgage industry. NYLX's solutions are utilized by many of the mortgage industry's top brokers, lenders and investors. LoanDecisions, the company's flagship product, offers the most powerful, flexible and feature-rich product eligibility and loan pricing system available, while BrokerToolz is an all-in-one product and pricing system designed specifically for brokers. NYLX's LoanBook is the industry's only automated 'mark-to-market' pricing system designed for secondary managers to optimize pricing on loans sold to the secondary market. NYLX also hosts the NYLX Exchange, the industry's only source of timely competitive market information resulting from the billions of dollars worth of originations that pass through the NYLX system each day. To learn more about NYLX and maximizing profitability on every loan, visit http://www.nylx.com/ or call 866-557-NYLX (6959). PRESS CONTACT: First Call Analyst:
CONTACT: Rosalie Berg of Strategic Vantage for NYLX, +1-305-971-5352, Web site: http://www.nylx.com/
2008-06-02 11:50:39 0374979 PRNEWSWIRE
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