Today’s mortgage lenders need transparency and visibility into their business, their competition, and the mortgage market as a whole.
As the industry’s most widely used product eligibility and pricing engine (PPE) with the largest single source of rate lock data, Optimal Blue’s advanced Product & Pricing Solution is uniquely positioned to support mortgage lenders like no other solution. In just the last 12 months, the company has managed more than 240 million rate quotes and exceeded $1.5 trillion in rate locks for its +1,000 lender clients.
Optimal Blue’s PPE is broad in reach and deep in functionality, managing many core functions in mortgage lending, including decisive product eligibility and sophisticated pricing strategies as well as propelling the rate lock process. Its technology provides lenders with the tools to create and maintain an extremely competitive product offering, giving them the ability to choose from thousands of leading conforming, non-conforming, jumbo and government products—even supporting their own in-house portfolio products.
The company has made significant investments to break down the silos between mortgage technology systems, paying detailed attention to how its own systems function together. As a result, more than 70 mortgage technology vendors have integrated their systems with Optimal Blue’s robust library of secondary marketing APIs, providing access to real-time pricing, lock functionality and more.
Optimal Blue also delivers real-time integrations between its industry leading Product & Pricing, Hedge Analytics and Loan Trading solutions. Its fully connected, end-to-end secondary marketing automation platform provides significant competitive benefits to its users, such as a powerful concept called True BESTX, which ensures the best option—highest revenue or lowest cost—for any mortgage financing scenario.
Lenders who leverage Optimal Blue’s PPE benefit from lower costs, more efficient workflows, increased profitability and enhanced competitiveness. Clients appreciate its value in terms of stability, performance and functionality, as well as the use of automation to decrease workloads.
In an ongoing effort to take automation to the next level, Optimal Blue developed a Lights-out Lock Desk roughly two years ago. This advanced capability enables clients to automate most aspects of the lock desk, including lock requests, price concessions, profile changes, product changes, relocks and lock extensions. Its granular auto-accept functionality saves time and industrializes key workflows, while margin automation and itemized dynamic markups allow for maximum profitability.
Recently, the company also added a feature to automatically accept post-lock changes that do not affect product eligibility or pricing when attributes of a loan profile change. This enables lenders to systematically recognize when change requests have no impact on rate, price, lock period or product, and then automatically process the modification, eliminating the need for manual review. One lender reported a 60% reduction in staffing requirements during peak refinance levels.
Optimal Blue continues to enhance its technology to support its many clients and meet the mortgage industry’s ever-changing needs. By delivering the industry’s most comprehensive and sophisticated functionality, it’s no wonder more lenders rely upon Optimal Blue’s Product & Pricing solution to support their unique business strategies, no matter how complex.
PRODUCT: Optimal Blue Product & Pricing Solution
SNAPSHOT: Optimal Blue Product & Pricing Solution provides mortgage lenders with an enormous amount of comprehensive and highly granular functionality, enhances a variety of workflow efficiencies, and enables lenders to be more competitive and confidently execute profitable lending strategies.
