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NYLX Launches Free Pricing Service By Anthony Garritano Realizing that brokers are hurting, NYLX has launched what it calls the mortgage industry's first no-charge information portal that provides reliable and specific loan product eligibility and pricing information, as well as the most current, extensive mortgage industry news and information. The site is called LendingArt. In addition to free eligibility and pay-as-you-go loan pricing, LendingArt offers properties and tools such as a program and guidelines search engine, a scenario desk, investor news and profiles, a business and events directory, and a messenger tool that updates subscribers on program guidelines, rates and loan requirements as they occur. "There has never been a gateway into the mortgage industry like this before, and it is desperately needed," stated Howard H. Conyack, Jr., founder and chief executive of NYLX. "Now, literally everyone involved in the mortgage transaction, from borrower or mortgage broker to lender or secondary market investor, can access the critical information, at little or no cost, that makes it faster and easier to make the most profitable and economic decisions." With LendingArt, users can navigate through the network of mortgage industry resources and obtain detailed product eligibility and loan pricing information, research investors, look up industry events and even read articles from popular journals and blogs. Additionally, the site's business financing search engine offers a commercial lending marketplace for individuals seeking business loans, commercial mortgage loans and equipment lease financing. In addition, the tool includes seamless and bi-directional integration with the Calyx Point system right from the user's desktop, which eliminates re-keying, time-consuming and costly computer systems integration. To get started with LendingArt, users simply submit an e-mail address and password to create an account. If users need to price loans, they can establish a "bank" for as little as five dollars. So far, feedback from beta testers has been very positive. "LendingArt is not only informative, but it's also extremely helpful," says Frank J. DelPesce, national sales manager at Florham Park, N.J.-based MLD Mortgage. "Whether I'm looking to browse investor guidelines, view key economic indicators or search for the next industry trade show, it's all there on one website. It's the first website I go to in the morning, and go back to it throughout the day." The portal is located at http://www.LendingArt.com. NYLX also offers LoanDecisions, the company's flagship product, which is a product eligibility and loan pricing system, and BrokerTools, an all-in-one product and pricing system designed specifically for brokers. NYLX also hosts the NYLX Exchange, which includes market information resulting from the billions of dollars worth of originations that pass through the NYLX system each day.

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