Lending Arsenal’s multi-lender loan pricing search engine for mortgage professionals effectively uses information from top wholesale lenders to help you compare sales quotes with rates and rebates, all tailored to your borrower's loan scenario.

The availability of numerous wholesale lenders and the diversity of the programs that those lenders offer somewhat complicate the wholesale lending industry. Each lender offers a broad range of programs based on factors such as borrower’s financial situations, desires and needs. The combination of all these parameters comprises a “loan scenario.” Depending both on the given borrower’s loan scenario and on the particular lender’s risk assessments, money could be less or more expensive to borrow.

In order for brokers to come up with most competitive quotes for borrowers, they must submit loan scenarios to each wholesale lender individually and then attempt to compare those scenarios side by side. In the past, this has been accomplished by either guessing what companies would have best deals, or by filling out and faxing applications to multiple wholesale lenders, hoping to receive competitive quotes. These practices are highly error-prone and take a long time to complete, considering that information about a particular loan scenario has to be processed anew for each individual lender, often resulting in smaller profits or loss of customers altogether.

With the coming of a digital era and movement of information online, the process of pricing loan scenarios became somewhat faster. Now, several loan pricing search engines are available and most wholesale lenders offer online loan prequal services that instantaneously determine eligibility of specific loan scenarios. Although this is more convenient than sending lender a fax or calling lender customer service to get a quote, one main problem still persists: the generated quotes are only valid for a given wholesale lender. This means that if a mortgage broker wanted to compare quotes from several wholesale lenders, he or she would have to enter the same information anew for each lender and then analyze all possible outcomes for those lenders separately in order to get to the most competitive deal, losing time and possibly customers.

Multi-lender pricing engines, such as Lending Arsenal, strive to fix the problem of having to go to different wholesale lenders and enter the same information several times before a good quote is found. Using a lender search engine enables brokers to price multiple lenders within minutes or even seconds, only having to enter a particular loan scenario once. The multi-lender search engine not only reduces time spent looking for and comparing quotes, but it allows brokers to find best loan deals for borrowers, fitting their particular circumstances, without having to wait for hours or days. Such efficiency enables mortgage professionals to serve their customers quicker, generating more revenue while also finding the most competitive deals on the market.