Optimal Blue Releases myLender - Company first to provide configurable, multi-search results view of mortgage information

by 14 Apr 2009
Company first to provide configurable, multi-search results view of mortgage information PLANO, Texas, April 14, 2009 ? Optimal Blue , developer of a comprehensive, Web-based platform that couples decisioning technology with content management for the mortgage industry, announced the company has launched myLender, a feature that simultaneously displays up to six views of search results for a given borrower?s profile. Each of the six views can be configured independently to the lender?s specification. No other vendor in the industry can return more than one view of their search results. This represents a phase change in PPE search capabilities. Using a highly sophisticated algorithm, myLender performs a best execution complete with loan level adjustors for every possible note rate and lock period combination across all possible products and investors and concisely displays the results in one of the six views. Almost as important, this complex feature returns results in less than three seconds. myLender?s performance is further enhanced with the recent release of Optimal Blue?s new engine, data center and user interface. The new user interface empowers an originator to search for any combination of products from a single product type to all product types without limitation. As part of the advanced functionality in the new engine, Optimal Blue added the capabilities to handle a pricing trace for historical pricing of a locked loan. When a loan officer locks a loan, the historical pricing trace allows users to view the entire grid for the loan product, itemizing all of the loan level adjusters and lender imposed factors that are needed to derive the final price. The average locked loan changes several times before it is funded thus requiring originators and secondary to recalculate the new price and compare it to the old price. The historical pricing feature enables originators and secondary personnel to save a tremendous of time and resources by not having to go back to the outdated rate sheets to determine the new price calculation. Larry Huff, co-CEO of Optimal Blue, commented, ?While many in our industry face significant market challenges, we believe that now is the time to innovate and offer mortgage professionals the tools that improve efficiencies, increase productivity and ultimately boost profitability. With the release of our new engine and production sites, and now MyLender, we continue to differentiate ourselves in the market by creating a platform that operates at a more advanced level than our competitor?s. This is more than a competitive advantage for our customers ? these innovations truly transform the way they do business, positioning them for greater success.? About Optimal Blue Founded in 2002, Optimal Blue is a Web-based provider of product eligibility and pricing engine (PPE) and secondary marketing automation technology and services. Based in Plano, Texas, Optimal Blue has developed a comprehensive suite of products designed to give lenders the ability to automate the management and distribution of their products and pricing, enabling originators to then source, manage, price and lock loans in a way that is efficient, accurate and easy to use. Without having to be technology experts, Optimal Blue?s solutions allow clients to leverage superior technology and content for a competitive advantage. For more information, please visit http://www.optimalblue.com/ .



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