Manual Data Entry, A Thing of the Past for Lenders

A newly integrated, web-based interface offers mortgage lenders two-way data connectivity, in efforts to improve efficiency and accuracy by eliminating the need for manual data entry. “The benefits to our customers [lenders] include time savings realized by not re-keying data and automating the lending process, and perhaps more importantly, the data integrity that comes from eliminating the possibility of human error,” says John Alexander, president of NYLX. The completed integration of NYLX’s product eligibility and pricing platform with PCLender.com’s mortgage lending platform, which immediately allows PCLender.com users access to NYLX’s online services, was announced today. In addition to improving efficiency, the interface allows users instant access to rates and eligibility guidelines and re-price loan scenarios in real-time throughout the life cycle of a loan, says PCLender.com. And by combining both platforms, lenders are able to “significantly” increase profitability and reduce operational costs. Write to Kelly Curran.