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PRMI’s Platinum Banking Program is as amazing as it sounds! With affiliates such as CitiMortgage, Wells Fargo, Chase, and Countrywide, PRMI has established relationships with the top correspondent banking lenders as part of its Platinum Banking Program. Through the state-of-the-art Platinum Banking Engine (PBE), PRMI Branches have the power to enjoy the following features: |
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- Powerful point-of-sale execution. The PBE will make it extremely easy for you and your Loan Officers to find the best fit for your borrowers and to compare rates on products within the Platinum Banking Engine in seconds.
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- Open-book pricing. When you place a loan with our correspondent banking Investors inside the PBE, you pay a flat fee of only $175 per loan. To help guarantee our open-book model, we also privately publish the Incentive Pricing Agreements with our platinum lenders. This allows you to audit the pricing in the PBE to ensure accuracy and to determine what the calculated up-front warehouse coverage will be per loan transaction.
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- Instant cash flow. By locking your loans through the PBE, you will enjoy 100% of the Profit/Commission the day after loan funding.
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- Full-service Secondary Lock Desk. Once you’ve located the product that fits your borrower’s needs, and you’ve found the best price in the PBE, all you’ll need to do is simply click the Lock My Loan button in the system. It’s as easy as
1-2-3—no more dealing with confusing Investor online locking systems or holding on the phone forever to lock a loan. Once you choose the product and rate and click Lock, within seconds that lock will execute at PRMI Corporate and a representative will lock the loan with the Platinum Lender and send you a confirmation. In addition, you always maintain authority to control who your correspondent loans are sold to.
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