NYLX Upgrades Pricing Tool

NYLX, Mt. Arlington, N.J., has announced enhancements to LoanDecisions, its all-in-one product eligibility and pricing engine, aimed at making it more of a real-time tool. The enhancements -- which include real-time investor change notifications, re-pricing auto alerts for specific loans in the pipeline, and a new lock status report feature -- enable companies to achieve higher profitability, NYLX said at the MBA National Secondary Market Conference and Expo. The enhancements also offer the assurance of 99.99995% accuracy in accessing up-to-the-minute rate and guideline changes, along with higher visibility into lock status for managing the pricing of locked loans. NYLX said its Investor Intra-Day Re-Pricing Notification System alerts users via e-mail of loan re-pricing minutes after it is announced, and also displays a visual warning in the LoanDecisions system. A second e-mail alert is also sent to the customer confirming that the most recent rates are available in the system. The second notification enhancement, the Client Book Re-Price Alert System, allows loan officers to set auto alerts on files in the LoanDecisions client book based on movements in rate or yield, so loan officers can ensure that their loans are always priced optimally without having to manually re-price every loan in the pipeline. The company can be found on the Web at http://www.nylx.com.