Optimal Blue releases new analytics capability for mortgage lenders

by Candyd Mendoza31 Jul 2019

Optimal Blue has announced the latest addition to its suite of business intelligence offerings, Competitive Analytics.

The company said the new product gives mortgage lenders an insight into how well they are performing. It also provides access to real-time business data as well as three types of benchmarking capabilities: advanced volume, lending profile, and pricing strategies.

With the advanced volume benchmarking, users can compare their loan production to the overall market and chart volume trends across particular periods; weekly, monthly, quarterly, or yearly.

The lending profile benchmarking provides a comparison of the client’s loan production characteristics. It charts loan-level parameters, including FICO, LTV, loan amount, property type, occupancy, loan type, and loan purpose against the overall market.

Lastly, the pricing strategies benchmarking allows clients to compare various marketing metrics that affect profitability such as margins, concessions, price, and note rate to the market – filtering by business channel, institution type, state, MSA, and others.

“The Optimal Blue Marketplace Platform has supported the daily activity of mortgage buyers and sellers for close to two decades,” Optimal Blue Chief Executive Officer Scott Happ said. “This has generated an incredible amount of transactional data that uniquely positions Optimal Blue to achieve an entirely new scope of market transparency and competitive insight.”