Integration of Lender Price product and pricing engine enables CMS clients to source, price and lock mortgage loans in real time.

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Mortgage loan origination and servicing software provider Constellation Mortgage Solutions (CMS) has partnered with product and pricing engine Lender Price to enable clients to source, price and lock loans in real time.

CMS, which was known as Mortgage Builder when it was acquired in 2019 by Toronto-based Constellation Real Estate Group (CREG), rebranded in April as part of a push to be seen as the “gold standard in mortgage origination tech” with this month’s launch of its new loan origination system (LOS), NOVA.

The integration of Lender Price with NOVA gives users access to a cloud-based product and pricing engine (PPE), automated underwriting system (AUS) and analytics suite, the companies said in announcing their partnership Tuesday.

Stephen Ryczek

“Every integration we make is designed to bring our lenders best in class fintech, and our partnership with Lender Price is the latest example,” CMS President Stephen Ryczek said in a statement. “In our search for an exclusive PPE partner, Lender Price demonstrated the best-in-class solution for our new LOS, NOVA, and fully aligns with our vision for the future of loan origination that outperforms all of our competitors.”

Mortgage product pricing engines automate the process of providing borrowers with personalized loan options based on their credit, income and other unique circumstances, allowing them to lock rates. Lender Price is a cloud-native, software-as-a-service (SaaS) pricing engine.

In partnering with CMS, Lender Price beat out rival PPE solutions like Black Knight’s Optimal Blue, Zillow Group’s Mortech and OpenClose’s DecisionAssist. Black Knight also provides a product and pricing engine within its Compass loan origination system, as does ICE Mortgage Technology, provider of the Encompass loan origination system.

Launched in 2015 and based in Pasadena, California, Lender Price claims to be the most flexible pricing engine on the market, providing product pricing and eligibility for all loan types including non-conforming, non-QM, hard money and home equity programs.

Dawar Alimi

“We are absolutely thrilled to partner with Constellation Mortgage Solutions,” Lender Price founder and CEO Dawar Alimi said in a statement. “Together, we are dedicated to providing our users with the best pricing technology in lending. Our combined efforts will help drive a superior user experience for CMS clients.”

Southfield, Michigan-based CMS’ parent company, Constellation Real Estate Group owns a portfolio of brands including Market Leader, TopProducer, Real Estate Digital (RED), Smartzip and Constellation1, which in April signed a deal with Redfin to power home search and other listing services in the company’s new markets.

CREG is a division of Constellation Software Inc., a company traded on the Toronto Stock Exchange with a market capitalization of $29 billion ($39.8 billion Canadian).

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Email Matt Carter

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