Mintos Review is a personal viewpoint on the new Mintos loan originators platform created by Prime Mortgage (PMI) Inc. and their wholly-owned subsidiary, Mintos Financial Network. Mintos is an online financial research tool which provides mortgage loan originators with real time pricing information, making the loan process a more reliable and efficient process. The information provided through Mintos is primarily based on national prime mortgage rate data, providing the originators with critical pricing data to aid in the underwriting process. Mintos also offers a number of automated quote tools, allowing the lenders to review multiple lending rates at one time.
Mintos provides access to many different lending companies. Mintos has partnered with several major banks and mortgage processors to provide information from many different sources on prime rates and loan terms for the consumers that need it. Because Mintos does not sell or share personal information, there are no risks associated with lending to the general public. This means that Mintos provides the service to the lending companies with the security of knowing that the data provided is secure. Many of the lenders who have chosen to use Mintos as their main source of information about loans have raved about the accuracy and value of the service offered.
In a recent article on Mintos Review by Steve Woods, he discussed how to use Mintos to get the best pricing quotes from lenders. He mentioned that he had recently completed an assignment with the FHA to test the effectiveness of Mintos as a quote provider for the FHA. He shared his results with the lending companies that he had worked with. The testing showed that over 90% of the borrowing companies reported that they received accurate quotes from Mintos. The most common reason that quotes varied was due to the fact that the quote was either submitted using the wrong parameters or the right parameters for the quote was not being submitted. Steve was quick to point out however that since all of the lending companies are Mintos customers, all clients can use the platform, regardless of whether they are FHA or non-FHA borrowers.
The third quarter of fiscal year 2020 ended on a high note, reporting revenues of nearly $5.5 million, up twenty percent from the same quarter last year. The amount of money reported was nearly twice that of the second quarter, which ended on the year’s last day, and almost four times the revenue generated during the year’s first quarter. The success of the marketplace has been fueled largely by the availability of Mintos. Steve pointed out that the availability of the platform allows more people to apply and get approved for loans on a daily basis, rather than just a few select individuals during busy times.
Since the availability of the Mintos platform has increased the competition for a good number of the small business financing deals available through these networks. While this competition has driven down the interest rates that companies were charging, this competition has also increased the number of loan originators who are actually offering the services that Mintos was designed to do. Additionally, the number of lending marketplace participants has been increasing as well, which is helping to support the overall performance of Mintos. As a result, Steve feels that the overall performance of the company has been quite strong, and he sees great opportunities ahead.
The use of the Mintos platform has helped Mintos Review participants be able to get a better sense of their own personal financial position. Because it allows so many different kinds of information to be accessed at once, Mintos Reviewers has the ability to compare one information item with another. This means that an investor can quickly evaluate whether or not the personal finances of a certain company are in a healthy state. The overall value of the marketplace has also been enhanced by the increased number of lenders who have made the switch to providing Mintos Loans on their websites. The increase in competition among the many different lenders has helped increase the overall value of the marketplace, which has helped Mintos Review participants be able to realize strong results with their investments in the near future.