Ellie Mae's AllRegs unit has released a new version of its business information tool to help lenders and investors manage risk and identify market opportunities.
AllRegs Market Clarity 3.0 lets users compare and contrast more than 3,000 loan products from 95 investors. The web-based tool features product templates and detailed investor guidelines.
Loan programs can be searched for in three different ways with Market Clarity 3.0. The first option is to do a product eligibility search that lets users type in a borrower's criteria and loan requirements to find available products.
Additionally, a product comparison search allows lenders to compare loan products by 44 different data points down to a granular level.
Lastly, a customer can do a product overlay search which enables lenders to select a baseline investor and compare other loan programs against it to show how the product is different.
Market Clarity 3.0 is also integrated with the AllRegs Loan Library, an online reference library that includes investor underwriting and insuring guidelines as well as federal and state statutes and regulations.
This new product is part of the AllRegs by Ellie Mae product line, which was created after the Pleasanton, Calif.-based software provider
"With Market Clarity, lenders can access the latest investor requirements, enabling them to avoid mistakes in the underwriting process and reduce buyback risk," said Jeff Hoerster, general manager for AllRegs by Ellie Mae solutions.
