PASADENA, CALIF. (PRWEB) OCTOBER 13, 2021
Platform processes over $20 billion in monthly locked loan volumes, helping mortgage lenders close more loans and optimize pricing
Lender Price, a leading provider of cloud-based mortgage pricing and digital lending solutions, announced today that it has received a strategic investment led by Argentum with participation from First Analysis and existing investor Costner Lake Investments. The investment will further accelerate Lender Price’s rapid growth by supporting product development, sales & marketing, and customer service capabilities.
Many mortgage originators and lenders use decades-old technology to run their core operations, resulting in costly process inefficiencies and missed revenue opportunities. Lender Price’s innovative technology allows lenders to easily manage and streamline key parts of the mortgage process, including origination, pricing, underwriting, and secondary marketing. Along with added functionality, Lender Price’s products are built on a modern tech stack that makes them faster, more configurable, and easier to integrate than competing solutions.
Lender Price’s product suite of SaaS solutions is anchored by an advanced enterprise product, pricing, and eligibility (PPE) engine that allows lenders to make pricing-related adjustments across all of their channels in real-time. The pricing engine powers the company’s other automated mortgage solutions to create a tightly integrated digital lending platform that also includes: a marketplace connecting brokers to up-to-date pricing of hundreds of wholesale lenders, a digital point of sale that simplifies the origination process, and a first-of-its-kind underwriting and pricing engine for non-agency mortgages (FLEX).
Currently, Lender Price supports 150+ lenders, thousands of brokers, and 50,000+ loan products. While it serves customers of all sizes, it works with some of the country’s largest lenders including Mr. Cooper, Flagstar Bank, American Financial Resources (AFR), PennyMac, Rocket Mortgage, Freedom Mortgage, several non-agency lenders, and two of the top ten commercial bank mortgage lenders.
“This investment will enhance our ability to offer industry-leading technology and services that meet the growing needs of originators and lenders,” said Dawar Alimi, Co-Founder and CEO of Lender Price. “Given Argentum’s track record of successfully scaling B2B SaaS companies, fintech experience and extensive industry network, we could not be more excited to partner with them to pursue the large opportunity ahead of us.”
Lender Price experienced rapid growth in 2021 and recently reported that it processes over $20 BN in locked loan volume through its platform every month.
“Lender Price’s software is critical in helping lenders rapidly execute profitable lending strategies with ease. With a highly advanced technology platform and experience supporting a diverse customer base that includes some of the industry’s largest and most sophisticated mortgage lenders, the company is helping the mortgage industry modernize its workflows and process burgeoning loan volumes,” said Daniel Raynor, Managing Partner at Argentum.
“From lead to loan lock and beyond, Lender Price’s products provide value at each step of the mortgage process. We look forward to supporting Dawar and his team as they continue to scale the company and establish themselves as a leader in origination, pricing, and underwriting technology,” added Sohum Doshi, Vice President at Argentum, who will join Lender Price’s Board of Directors in connection with the investment.
About Lender Price
Lender Price is a California-based developer of mortgage technology, including an advanced product, pricing, & eligibility (PPE) engine, digital lending point-of-sale (POS), and non-agency automated underwriting engine. Lender Price provides all types of mortgage lending institutions – wholesale and correspondent lenders, banks, credit unions, and mortgage brokers – with advanced technology designed to eliminate friction, increase transparency, and effectively engage with borrowers. More information about Lender Price can be found at: https://lenderprice.com
About Argentum
Argentum is a New York-based growth equity firm that helps scale bootstrapped B2B software, technology-enabled and business services companies. The firm invests in companies that are seeking capital to accelerate growth, fund acquisitions and / or generate shareholder liquidity. Over its 30-year history, Argentum has invested in over 90 companies and supported more than 200 add-on acquisitions. To learn more, visit: https://argentumgroup.com/
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