NYLX Launches Loan Lock Software Upgrade
Mount Arlington, N.J.-based mortgage software developer NYLX launched the latest version of its loan locking software. NYLX is a Lenders One preferred vendor and officially launched the new release at the mortgage banker collective’s annual conference, hosting a seminar at the event. The AppNavigator software enables users to automate the process of locking in mortgage interest rates with the secondary market. By automating the process, risk of error associated with manual entry is minimized and lock submissions for pools of loans can be processed faster, NYLX said. “AppNavigator ... [can] be designed to work in any secondary process and with any secondary systems,” said Paul Griffin, AppNavigator developer. “Loan lock detail is captured, populated on investor sites and flowed back into secondary systems for a complete closed loop process,” he added. Write to Austin Kilgore.