Friday, June 17, 2011

Locking Made Easy

I can't understand how there are so many firms that haven't streamlines their pricing and lock process. Just about every pricing engine is integrated with the large LOS players and trust me, there is NO good reason not to take advantage. Of course there could be some holes in the integration but those can be filled with some custom LOS work.

A manual pricing and lock process means sales and secondary working in two systems. Dozens of data entry fields, emails, faxes, poor audit/tracking mechanisms and you have a labor intensive process with numerous areas of exposure creating data integrity concerns. All we hear about now is the rising cost of originations and how each file takes so much more time and effort. If lenders are looking to streamline their process and improve efficiencies, they should tart with their pricing procedures. This integration could double the output of their lock desk and give sales more time to actually speak with clients!

And for the firms who are hedging or delivering via mandatory or direct trades, this process is essential to trade managing positions effiiciently.

What is everyone waiting for?!?!?!?!?!?!

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