New RateSpeed Site Layout…
August 14th, 2008 Categories: Front Page
We’ve launched the new RateSpeed site layout, moving away from ‘The Disturbing Truth’ and toward a solution based educational format with dynamic content.
It’s no secret anymore that the mortgage industry needs change, greater transparency and more efficient tools. It’s time to start walking the walk and that’s what RateSpeed is all about.
We’re still filling content and working out a wrinkle here and there so please check back often. In the meantime, the RateSpeed application is still live and may be launched by clicking the big Demo RateSpeed button on the home page.
Beta Applications aren’t far behind, news coming shortly!
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What is RateSpeed?‚
August 14th, 2008 Categories: Consumer Information, Front Page, Mortgage Professionals
RateSpeed‚ was developed in response to what appear to be two opposing mortgage market forces: The consumer‚ need for transparency, and the professional‚ need for efficiency. The result is a new breed of search technology that aggregates and re-displays wholesale-direct mortgage rate and pricing information for consumers and professionals alike.
FOR CONSUMERS
With RateSpeed,‚ mortgage shopping is fast, free, and anonymous‚requiring only the essential property, credit, and financial information banks need to accurately price a loan.
More importantly, the results returned by RateSpeed‚ are guaranteed free from broker, banker, or third-party manipulation, which means: 1) You get to see the real rates you actually qualify for, and 2) No one gets your name, your social security number, or your home phone until they‚ve earned your business‚which starts by earning your trust.
FOR MORTGAGE PROS
RateSpeed‚ is an embeddable web application‚not a destination search site‚designed to run on your existing website using your current list of approved lenders and programs. A single search yields best-case rate and pricing for Prime, Sub-Prime, Alt-A, and FHA loans‚all in real-time. But that‚ just technology; the real magic is in the marketing.
In an industry defined by distrust, running RateSpeed‚ lets consumers know you‚re an honest broker competing on transparency and service, rather than sleight of hand. So while your competition is stuck in the Stone Age, chasing burnt-out leads to practice the ‚Äúart of the deal,‚ RateSpeed‚ is working around the clock cultivating clients and building your brand‚leaving you free to focus on closing more loans. RateSpeed‚ is more than just a transparent pricing engine‚it may well be the ultimate mortgage marketing platform.
But for all its groundbreaking features and technology, what makes RateSpeed‚ unique is the way it leverages transparency to actually bring consumers and brokers together as allies, rather than adversaries.
What RateSpeed‚ offers consumers in the way of unprecedented transparency, mortgage pros stand to gain in newfound efficiency‚making RateSpeed‚ the elusive win-win technology that can drive real and positive change in the mortgage industry.
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Wholesale Conforming Mortgage Rates
August 11th, 2008 Categories: Conforming Wholesale Mortgage Rates
Wholesale Conforming Mortgage Rates and Pricing 8/11/2008
Rates and Pricing Provided by RateSpeed‚ Risk Based Pricing Variables:
- Primary Residence
- Purchase
- Single Family Residence
- <80%LTV
- 720 FICO score
- DTI <42%
- 400,000 Loan Amount
- Fully Documented Income and Assets
Mortgage Professionals, have your own personalized edition of the RateSpeed Mortgage Search Engine configured and embedded directly on your sites (yes we white label).
For a detailed explanation and definitions click here.
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Wholesale Conforming Mortgage Rates and Pricing 8/08/2008
August 8th, 2008 Categories: Conforming Wholesale Mortgage Rates
Wholesale Conforming Mortgage Rates and Pricing 8/08/2008
Rates and Pricing Provided by RateSpeed‚
Risk Based Pricing Variables:
- Primary Residence
- Purchase
- Single Family Residence
- <80%LTV
- 720 FICO score
- DTI <42%
- 400,000 Loan Amount
- Fully Documented Income and Assets
Mortgage Professionals, have your own personalized edition of the RateSpeed Mortgage Search Engine configured and embedded directly on your sites (yes we white label).
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Wholesale Conforming Mortgage Rates and Pricing 8/06/2008
August 6th, 2008 Categories: Conforming Wholesale Mortgage Rates
Conforming Mortgage Rates and Pricing 8/06/08
Rates and Pricing Provided by RateSpeed‚
Risk Based Pricing Variables:
- Primary Residence
- Purchase
- Single Family Residence
- <80%LTV
- 720 FICO score
- DTI <42%
- 400,000 Loan Amount
- Fully Documented Income and Assets
Mortgage Professionals, have your own personalized edition of the RateSpeed Mortgage Search Engine configured and embedded directly on your sites (yes we white label).
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Wholesale Conforming Mortgage Rates and Pricing 8/05/2008
August 5th, 2008 Categories: Conforming Wholesale Mortgage Rates
Wholesale Conforming Mortgage Rates and Pricing 8/05/2008
Rates and Pricing Provided by RateSpeed‚
Risk Based Pricing Variables:
- Primary Residence
- Purchase
- Single Family Residence
- <80%LTV
- 720 FICO score
- DTI <42%
- 400,000 Loan Amount
- Fully Documented Income and Assets
Mortgage Professionals, have your own personalized edition of the RateSpeed Mortgage Search Engine configured and embedded directly on your sites (yes we white label).
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Updates to RateSpeed, Beta Launch Coming Soon
August 1st, 2008 Categories: Front Page
Below are some screen shots showing some updated field entries and FHA data ahead of our beta launch…
Property Details
Notice the addition of County level specifics to accomodate for FHA criteria…
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Assets Fields
Asset information is now broken down into three specific types:
- Checking/Savings
- Stocks/ Bonds
- IRA/ Retirement
These are really the only types of assets the mortgage world in concerned with. While your iPhone may be worth a few hundred bucks and your furniture may be paid off, they aren’t considered hard assets.
-
Program Selections
RateSpeed will allow users to choose from Conforming/Alt-A/SubPrime with an Interest Only option or FHA guidelines and up to four program types.
-
Real Time FHA Rates and Pricing
RateSpeed will offer hyper-local FHA information based on County level MSA data determined by HUD. The Loan Amount of $700,000 works in high median home value MSA (Metropolitan Statistical Area) areas like Orange Count, CA where the FHA Loan Limit is $729,750.
The same Loan Amount would not qualify in a MSA like Charlotte, NC where median home values yield an FHA Loan Limit of $303,750.
The 30 Year Fixed program pricing matrix above was derived from the following submission data on 8/01/2008 @ 10:00am EST:
- Primary Residence
- Purchase
- Single Family Residence
- <90%LTV
- 620 FICO score
- DTI <42%
- 720,000 Loan Amount
- Fully Documented Income and Assets according to FHA guidelines.
We’re in the home stretch, eliminating unecessary fields, tightening up the verbiage and definitions for the User Interface to make it more read friendly and consistently relevant to the consumer user.
Finally, we’ll have our site overhaul complete in the next few days, moving away from the doom and gloom in your face version that’s currently up and into friendlier confines that better defines what we’re about as a company…Stay Tuned…we’re almost there!
Mortgage Professionals, have your own personalized edition of the RateSpeed Mortgage Search Engine configured and embedded directly on your sites (yes we white label).
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Wholesale Conforming Mortgage Rates and Pricing 8/01/2008
August 1st, 2008 Categories: Conforming Wholesale Mortgage Rates
Wholesale Conforming Rates and Pricing 8/01/2008
Rates and Pricing Provided by RateSpeed‚
Risk Based Pricing Variables:
- Primary Residence
- Purchase
- Single Family Residence
- <80%LTV
- 720 FICO score
- DTI <42%
- 400,000 Loan Amount
- Fully Documented Income and Assets
Mortgage Professionals, have your own personalized edition of the RateSpeed Mortgage Search Engine configured and embedded directly on your sites (yes we white label).
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Wholesale Conforming Mortgage Rates and Pricing 7/18/2008
July 18th, 2008 Categories: Conforming Wholesale Mortgage Rates
Wholesale Conforming Rates and Pricing 7/18/2008
Rates and Pricing Provided by RateSpeed‚
Risk Based Pricing Variables:
- Primary Residence
- Purchase
- Single Family Residence
- <80%LTV
- 720 FICO score
- DTI <42%
- 400,000 Loan Amount
- Fully Documented Income and Assets
Mortgage Professionals, have your own personalized edition of the RateSpeed Mortgage Search Engine configured and embedded directly on your sites (yes we white label).
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Wholesale Conforming Mortgage Rates and Pricing 7/17/2008
July 17th, 2008 Categories: Conforming Wholesale Mortgage Rates
Wholesale Conforming Rates and Pricing 7/17/2008
Rates and Pricing Provided by RateSpeed‚
Risk Based Pricing Variables:
- Primary Residence
- Purchase
- Single Family Residence
- <80%LTV
- 720 FICO score
- DTI <42%
- 400,000 Loan Amount
- Fully Documented Income and Assets
Mortgage Professionals, have your own personalized edition of the RateSpeed Mortgage Search Engine configured and embedded directly on your sites (yes we white label).
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