Issue link: http://dsnews.uberflip.com/i/1345366
39 Journal SPONSORED CONTENT ly developed for a digital transaction. ey weren't developed for a broker to come in, see what they needed, know what lender they needed to get it from, and then handle all of those processes in one place. ey were basically built to fill forms. Nobody sends out forms anymore, so the form filling software that people are still trying to use hasn't well adapted itself to a digital environment. By creating a universal method for the broker to get their loans to the lender, regardless of what lender that loan is going to go to ReadyPrice is able to streamline that process for both the broker and lender. Q: ReadyPrice is described as a community for lenders and brokers to succeed together. What does that mean? Soukoulis: As brokers move into a more digital world and things change, the focus is all on community, and creating a symbiotic relation- ship in the workplace. Brokers and lenders need one another in order to fulfill their business goals, and they're interacting with one another on a daily basis, which is how ReadyPrice came up with this concept of a virtual community. Just like in a real community, a virtual business community is focused on building trust through transparency, speed, and efficiency. e ReadyPrice community puts brokers on the same playing field as their counterparty lender by providing the true rates to them through its Product Pricing Engine. e lender benefits from knowing that when loans are approved and delivered through ReadyPrice, the loan file has all of the informa- tion required to make business decision the first time. Lenders can feel secure in doing business through ReadyPrice. Q: How do the features designed for the brokers, PPE, AUS, and loan delivery, provide value to lenders on the platform? Soukoulis: Initially, the value to lenders is that they can expose their products to a larger broker network, as well as improve the quality of the loan files they receive in a more streamlined manner. As ReadyPrice evolves its broker features over the next quarter, they will be able to deliver on more lender specific workflows, allowing the lender to further customize exactly what it is they need on the LO front. For example, if a lender has a unique data set that the broker needs to populate, not only would ReadyPrice capture and repopulate that data, but also upload it through our imaging platform, inserting the data right where it needsto be in the loan file. is technology makes it so easy for lenders to underwrite loans that come through ReadyPrice. By providing the cleanest and most efficient process, ReadyPrice brings a lot of value to the lenders in the community. Q: With the recent acquisition of ReadyPrice by SitusAMC—a leader in secondary markets services and technology—what is vision for ReadyPrice lenders after loan closing? Soukoulis: SitusAMC software picks up right where ReadyPrice software leaves off—at post closing. ReadyPrice is focused on the lender-broker relationship today, but the SitusAMC suite of software can maintain that lender relationship all the way through as a full mortgage banking suite, dominating the secondary market. At the highest level, the companies plan to provide the industry with its first true mortgage data exchange. This technology makes it so easy for lenders to underwrite loans that come through ReadyPrice. By providing the cleanest and most efficient process, ReadyPrice brings a lot of value to the lenders in the community. —Rick Soukoulis, CEO, ReadyPrice