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The Importance of an Integrated Product Pricing Engine

Nov 27, 2023

A Product Pricing Engine (PPE) falls into the “how did I ever live without this” category for those who use and rely on them. If you haven’t benefited from one, read on and you’ll quickly understand why using this tool will make your day, and ultimately your business, far more successful and far less stressful.

Integrating your product pricing engines allow you to work smart, not hard.


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Saying goodbye to the old days of manually sifting through guidelines and rate sheets to come up with accurate pricing is something to look forward to. It takes a little bit of effort, but once your systems are connected with a Product Pricing Engine, your mortgage origination and loan process world will change for the better.

In the old days, it was more straightforward. We had rate sheets with a handful of options — zero, one, or two points. Chocolate, vanilla, or strawberry; pick your flavor and lock it in. Investor overlays, loan-level price adjustments, adverse market condition bumps and g-fee hits weren’t even a thing yet.

But now, we have all those troublesome and sometimes expensive things to consider in any given loan scenario. The biggest issue is that prospects are often unaware of the details. They’re comparison shopping, and if you want to be able to offer rates at least comparable to what they might be seeing or hearing, you better have the ability to know exactly what you can provide, and quickly.

The ability to offer your mortgage loan prospects not just any rate quote, but one specific to their scenario, is critical. Doing it instantly vs. after abundant research and guideline perusal can make the difference between your winning the deal or having it become another one for your competitors.

Along with speed to lead, explaining to the borrower as you enter data why it’s important to get an accurate quote can and will set you apart from those only offering generic quotes. Better yet, it will also distinguish you from less thorough loan officers that might lure someone in, only to upset them later.

There are other benefits to using a product pricing engine, too.

It’s not just that, a PPE will make initial loan origination easier, and save time and aggravation, too. These days, you can be on the hook for misquoting, and no one likes to work for free. We all know what more time is worth: do more deals or have more personal space.

Let’s face it — just being able to quote accurately, offer more options and account for readily identified adjustments makes you more professional in the eyes of your prospects. There will always be those who care about nothing more than the absolute best rate, and that’s fine. A mortgage product pricing engine can allow you to identify that “best” rate and where it may have originated. But the most significant value is being able to best serve your clients and prospects with knowledge and professionalism.

In the end, people will forget what rate they got, but they will remember how they were treated. Be the one that cares more about accuracy and fair pricing, and your business will reflect that with a never-ending stream of repeat and referral business that no advertisement will ever compete with.

While we’re at it, the combination of a mortgage product pricing engine and a world-class mortgage CRM that will keep your clients and prospects informed from that first inquiry all the way through many years of loan anniversaries can do exponential justice to your mortgage business.

Want to join the ranks of successfully integrated CRM and mortgage product pricing users? For starters, just request a demo with Surefire. You’ll be a mortgage quoting and marketing automation pro in no time.

Grow your mortgage marketing expertise and close more deals with our free Mortgage Marketing University courses.

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