NYLX Unveils LoanBook

NYLX, a Mt. Arlington, N.J.-based provider of mortgage technology, has announced the launch of LoanBook, which it calls the industry's first pricing engine specifically designed to help lenders achieve the highest profits on each loan they sell to secondary-market investors.LoanBook continually monitors loans in process, compares them against available loan programs, and automatically alerts the secondary manager of pricing improvements, the company said. "LoanBook is the first pricing engine that leads secondary managers to revenue that would otherwise be left on the table," said John Alexander, president of NYLX. "Lenders get higher profits without adding more volume, more staff, or increasing costs to the borrower." A Web-based subscription service, LoanBook searches its preloaded database of approved investor programs, locates the program with the optimal yield based on each loan's unique criteria, and notifies the secondary manager when loans reach a specific profit threshold based on dollar revenue or yield spread, the company said. NYLX can be found online at http://www.nylx.com.