Plaza Home Mortgage, a wholesale and correspondent mortgage lender, launched a new loan acquisition system (LAS) that will accelerate loan purchases and make it even easier for correspondent clients to do business with Plaza.
The new LAS, known as LINQ, provides correspondents with real time views of conditions and the status of their purchase reviews, allowing them to easily connect, or “link up with” Plaza. Correspondents can use LINQ to lock and re-lock rates instantly and will no longer need to email Plaza’s rate lock desk. LINQ also allows the easy upload of files and data, once deals have closed.
Commenting on the new system, Stacy Barker, Operations Manager of GHI Mortgage, an early adopter of LINQ, said: “LINQ is user friendly, fast on document uploads and gets you lock confirmation immediately once the loan is locked in.”
“While pricing is always a primary driver, speed, efficiency and transparency are rapidly becoming key differentiators in today’s correspondent market,” said Salpi Meyer, Senior Vice President, National Correspondent Sales at Plaza. “Correspondents are looking for lenders that can review, bid and close deals in days, not weeks, and move loans off warehouse lines. Plaza’s National Correspondent channel has always been easy to do business with, but our new LINQ portal will make the process easier and even more transparent.”