Magazine article Mortgage Banking

MGN Funding Corporation Deploys PriceMyLoan

Magazine article Mortgage Banking

MGN Funding Corporation Deploys PriceMyLoan

Article excerpt

PriceMyLoan, Costa Mesa, California, announced that MGN Funding Corporation, Bronx, New York, has successfully deployed PriceMyLoan's automated underwriting and loan pricing engine. The open evaluation process that price My Loan Provided allowed MGN Funding to make a confident decision on the technology provider that satisfied their needs, according to the company.

"We had a poor experience with a previous provider, so we wanted to be sure," said Marlon Seenarine, president of MGN Funding. "PriceMyLoan was the only company that let us test a live production version of their system. That says a lot about their confidence, but it says even more about the confidence of their competitors," she said.

PriceMyLoan provided MGN Funding with a trial account of its system for an entire month. Known as a private testing suite, MGN Funding was allowed to customize its trial account so that its staff could use the system in a live environment. Full training and support for the lender's originators, processors and underwriters was provided with the private testing suite, and MGN Funding was able to fund actual loans using the trial account. …

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