Home Capital Funding Reports Strong Results From PriceMyLoan's Automated Underwriting and Loan Pricing Engine

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COSTA MESA, CA – August 9, 2006– Home Capital Funding has received initial results from the deployment of PriceMyLoan's (PML) automated underwriting and loan pricing engine and reports a major jump in monthly loan submissions and closings.

San Diego-based Home Capital Funding implemented PriceMyLoan's automated underwriting and loan pricing engine on May 1st, 2006. In less than two months of use, they've seen their loan submissions grow by almost 50 percent, outpacing even their most optimistic projections.

"We're blowing up right now," says Jon Okken, Managing Director of Home Capital's Equity Division. "We're using PML in both our retail and wholesale divisions, and all of them are pushing unbelievable volumes. What makes this even more astounding it that this is all happening in a slowing mortgage market."

"This reinforces the impact that technology can have for mortgage lenders," notes Gigi Campbell, PriceMyLoan National Sales Director. "PML streamlines the approval process and provides pricing information 24 hours a day, 7 days a week. It's a virtual account rep that is always available, whenever and wherever the loan officer happens to be."

Driving more business internally

Prior to using PML, Home Capital's retail division was brokering out the majority of their loans, keeping about 40 percent in house. Since using PML they've been able to capture up to 80 percent of their loan officer's pipeline, posting significant profit gains for the company.

"The motivation for both our retail loan officers and the brokers in our wholesale division is simple," remarks Okken. "Why call ten different AE's when you can go to PML? We have over twenty different products from a dozen investors located in one, easy to use system. Instead of waiting two days for a response, they're getting accurate results in twenty seconds."

About PriceMyLoan

PriceMyLoan is a proprietary product of Insight Lending Solutions (ILS). Founded in 2002, ILS provides web-based application service for the mortgage lending industry and software as a service (SaaS) to its clients to enhance productivity, reduce IT dependency, and accelerate time-to-value for mortgage companies. Combining advanced technology development using XML and MISMO standards with high-quality service, ILS provides its clients with solutions that result in reduced loan cycle times, improved pull through rates, and a lowered total cost of software ownership.

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Contact:Linn Cook
PriceMyLoan
(714) 957-6335

lncook@pricemyloan.com

www.pricemyloan.com

News Source : Home Capital Funding Reports Strong Results From PriceMyLoan's Automated Underwriting and Loan Pricing Engine