Firms partner to automate correspondent lenders' loan acquisition

by Steve Randall01 Oct 2018

A newly-announced strategic partnership between fintech platform operator Optimal Blue and regulatory technology (regtech) firm LoanLogics aims to change the digital correspondent experience.

The two businesses will work together in delivering a real-time integration between LoanLogics’ LoanHD® Correspondent Lending platform and Optimal Blue’s product eligibility and pricing platform.

 “Individually, we are leaders in our respective disciplines. Together, we offer powerful technology to help investors ‘automate first’ across their loan purchase, pricing, hedging, trading, and counterparty risk oversight practices,” explained Brian Fitzpatrick, LoanLogics CEO.

LoanLogic’s LoanHD platform automates the loan acquisition process, giving investors the assurance that they are buying quality, compliant loans at an accurate price.

The integration with Optimal Blue fully automates loan-level pricing and eligibility controls; and provides support for automated adjustments to loan- and bulk-level pricing based on automated due diligence results.

LoanDecisions acquired by Optimal Blue
As part of the partnership, Optimal Blue has acquired LoanDecisions, the product, pricing, and eligibility (PPE) business of LoanLogics.

“We are delighted with this transaction and extend a warm welcome to LoanDecisions’ customers and staff,” said Scott Happ, Optimal Blue CEO. “We are investing deeply in our PPE technology and are committed to delivering the best-in-class solutions and innovative partner connections across our marketplace.”

 


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