Industry News

Flagstar Bank putting loan info on SearchMyLoan.com

Web site lets brokers compare top lenders' programs

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SearchMyLoan.com said today it will provide information on the rates, pricing and loan programs offered by Flagstar Bank, a federal savings bank that originates mortgage loans through a network of 73 home lending centers in 19 states. Based in Port Washington, N.Y., SearchMyLoan.com provides mortgage loan search and pricing services to mortgage brokers and bank loan officers. SearchMyLoan.com claims it can reduce the amount of time required for loan officers and brokers find "best-fit" loans for their clients, matching loan products to guidelines of multiple lenders. The company's platform supports conventional, subprime and alt-A loan types, with SearchMyLoan.com maintaining product data and automating the loan search and pricing process. In announcing alliances with three credit reporting services last month, SearchMyLoan.com said it supported program data and guidelines for the top 40 U.S. lenders. Troy, Mich.-based Flagstar Bank has $16.2 billion in assets and originates mortgag...