38
Journal
THE NEXT ITERATION OF
LOAN ORIGINATION TECH
Rick Soukoulis is redefining how the wholesale lending channel operates, again.
Rick Soukoulis has been disrupting the mortgage industry with
tech innovations since the early 90s, and he is at it again with a
community platform that will change the way MLOs and lenders
work together. As a management executive and entrepreneur with
a proven track record of leading successful high-growth, start-up companies in real
estate finance, he has demonstrated success in developing break-through solutions
that deliver powerful results, including the mortgage industry's first multilender
proprietary loan search engine and one of the first online mortgage shopping and
origination services, which led to creating new innovative products and strategic
alliances to drive revenue growth and market expansion.
Over the years, Soukoulis has built and sold multiple companies in the
mortgage industry, but recently his passion to create new efficiencies for
wholesale brokers and lenders through technology was the inception of
ReadyPrice—the first platform that allows brokers to price, underwrite, and
deliver loans across all product categories to the lender of choice through a
simple, cloud-based software.
Q: What does ReadyPrice do?
Soukoulis: ReadyPrice does three very simple
things. First, it prices mortgages from multiple
lenders so a broker can see all of their pricing in a
single place. en, it marries that up with getting
a decision back so that the broker knows how to
process this loan in accordance with Fannie Mae
standards through DO. Finally, it allows the
broker to deliver that loan straight into the lend-
ers TPO platform. e ability to do those three
things across multiple product types, within a
single technology, has never been done before.
Q: What challenge does it solve with this
technology?
Soukoulis: ere are many legacy systems that
brokers are using on their desktops today— things
like Point and other old processing forms that were
developed during a different era. ey weren't real-
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