PreQualPal Automates Broker Loan Searches

A new player has entered the ring to vie with Calyx, Ellie Mae, Lenders Insight, LION, and others to serve brokers by automating loan qualification and lender referral.With technology coming from a successful real estate company, Highland, Calif.-based PreQualPal Inc. offers mortgage brokers and loan officers a suite of online tools that dramatically reduces the time they spend searching through rate sheets and keying in data. A key feature is simultaneous real-time rate and pricing that includes quotes from multiple lenders. Taking 17 variables in getting a quote from a lender, the system automatically arrives at an adjusted rate and compares and maximizes lender rebates. The company particularly touts its tools for building relationships with real estate agents in a shrinking mortgage market. http://www.prequalpal.com