Mortgage Data Provider best blue Announced this week, the Competitive Data License is a product designed to help lenders price loans accurately and improve profitability.
In its announcement, the Texas-based company described the product as “a collection of critical national mortgage pricing data that enables lenders to competitively price products, improve operating margins, and React quickly to changing market conditions.
The competitive data license leverages data from Optimal Blue’s Product Pricing Engine (PPE), which the company says is used to price and lock in more than 35% of U.S. mortgages. premiums, discounts, loan officer salaries, etc.
“We often hear from lenders how difficult it is to make informed pricing decisions due to a lack of access to detailed market data,” said Brennan O’Connell, director of data solutions at Optimal Blue, in a statement.
“The competitive data license ensures our PPE customers have complete transparency into the granular pricing components required for complete price tracking from buyer to seller, providing Optimal Blue customers with a strategic advantage in benchmarking their entire pricing strategy.”
Profile authorization products allow lenders to see which loan locks have been completed using profile sets and which loan officers have locked loans. Optimal Blue explains that lenders can “feed raw data from competitive data licenses into their own business intelligence platforms to assess their performance relative to competitors and adjust pricing strategies such as repricing or hedge optimization based on market changes”.
The new product is only available to Optimal Blue PPE users, but the company noted that its market data licensing product will still be available to lenders who do not use PPE.
Optimal Blue made a name for itself in the industry earlier this month when it hired Joe Tyrrell to succeed Scott Smith as CEO.
during an interview house line Shortly after the announcement, Tyrrell explained the reasoning behind his move after his previous career came to a halt. ICE Mortgage Technology and medal.
“What lenders really need is the ability to maximize profitability on every loan so they can continue to operate and then continue to reinvest in the business to help more people,” Tyrrell said. “In this industry No one is more important than Optimal Blue: a secondary marketing platform that is the only end-to-end solution.”
