Two Firms Create New Loan Price Index
Level 1, a joint venture between IntraPrise Solutions and The Servicing Source, has launched a new loan pricing index to provide valuation and price indications focused on non-agency and nonconforming loan products. The new service is being called the Level 1 Loans Price Index.
The company said that LPI will aid lenders in determining fair market value, as defined by the recent FAS 157 accounting regulation, for loan portfolios held for sale or investment. LPI said the product will be offered as a complimentary service consisting of an opt-in e-mail component allowing users to receive daily, weekly or monthly price indications for popular products coupled with the ability to access more detailed pricing for non-standard products. Lenders wishing to sign up for the service can visit the company's website, www.level1loans.com, to learn more about the valuation service. LPI compiles pricing data from approximately 20 major investors who publish eligibility and pricing guidelines. (c) 2008 Mortgage Servicing News and SourceMedia, Inc. All Rights Reserved. http://www.mortgageservicingnews.com/ http://www.sourcemedia.com/