| Rates
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| Security
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| Service
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| Company
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How
are rates disbursed to the publisher's websites? |
Lenders’
rate information is stored in a database that is
accessible by the Publisher and their designated
Auditor(s). Once an Auditor approves the rates,
they are securely distributed by the publisher’s
website and can be viewed by clicking on the following
link - sample
publisher's rate page. Lenders can also view
their rates from our database on a regular basis.
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What
is the role of the Auditors for rate distribution?
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Auditors
will confirm that all published rates conform to
the criteria established by their Publisher. This
step is designed to ensure that all Lenders’
rates are reasonable and provides an "apples
to apples" type of disclosure.
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How
does the online application work? |
The
online loan application accumulates all data necessary
to complete a residential loan application (Fannie
Mae® 1003) for one or multiple applicants. Utilizing
a series of seven dynamic screens, the applicant
completes an interview process. Accurate results
are obtained by only asking for data pertinent to
a specific transaction.
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What
happens once the application is submitted to a lender? |
Once
the application is submitted, both the applicant
and the designated Lender receive confirmation in
the form of an email. The email contains an encrypted
copy of the loan application in a PDF®
file which can be viewed here
-(please use “demo” as the password).
The Lender also receives an encrypted Zip®
file in Fannie Mae 1003 format that can be easily
imported into most loan origination software programs.
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What
steps are in place to protect the applicant's data?
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The
online application is hosted on a server that provides
a secure socket layer (ssl) security via a web browser.
All hardware is located in a collocation center
behind firewalls to provide the highest level of
network security and is only accessible by approved
employees. Additionally, intrusion detection services
monitor all network activity 24/7 to ensure only
appropriate activity is allowed on data, web, and
communication servers.
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Is
the applicant's data shared with other lenders or
third parties? |
An
applicant’s data is never shared with any
party other than the Lender chosen by the applicant.
This service is provided by PCLender.com, Inc. a
Nevada corporation whose privacy policy may be viewed
by clicking on the following link - Privacy
Policy .
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What
other resources are provided to approved lenders?
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Lenders
are provided access via the Internet to:·
- Current
bond market data
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Live statistics of all Lenders’ rates
-
Rate sheet for each Publisher the Lender subscribes
to
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Account activity records.
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How
does a lender become a lead sponsor for rate distribution?
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Some
Publishers have elected to offer premium location
for Lender’s rates. The quantity of locations
and the pricing for these premium locations are
set by the specific Publisher. For more information
about Publishers, please contact information@PCApproval.com
.
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How
much does PCApproval.com services cost? |
Prices
for rate distribution vary with each Publisher,
but are typically $50.00 to $200.00 per month, dependent
on the size of the Publishers customer base. Online
applications are invoiced only when an application
has been fully completed and submitted to the Lender.
The cost per application received is determined
by the Publisher as well as the type of online application
service the Lender has subscribed to.
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How
are the PCApproval.com services invoiced? |
Based
on the services each lender subscribes to, the fees
are broken down into a simple monthly invoice sent
via e-mail to the primary Lender contact within
five business days following each calendar month.
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