SOURCE: Optimal Blue LLC

Leading Mortgage Enterprise Lending Services

January 28, 2016 16:02 ET

Optimal Blue Recognized for Industry-Changing Innovations

PLANO, TX--(Marketwired - January 28, 2016) - Optimal Blue, the premier cloud-based provider of enterprise lending services to the mortgage industry, was recently nominated for inclusion on PROGRESS in Lending's Innovations 2015 list. This year, PROGRESS in Lending will recognize advancements in mortgage technology that were introduced into the mortgage market between January of 2015 to December of 2015, which made a positive difference and truly changed the industry for the better.

Seven industry experts that make up the PROGRESS in Lending Association executive team will act as judges, scoring the nominated companies on a weighted scale that reviews multiple criteria, such as:

  • The innovation's overall industry significance;
  • The originality of the innovation;
  • The positive change the innovation made possible;
  • The intangible efficiencies gained as a result of the innovation; and
  • The hard cost and time savings that the innovation enables industry participants to achieve

Optimal Blue was nominated for inclusion based on its new Automated Bulk Bidding feature. An industry-first game changer, Automated Bulk Bidding allows the user to view rankings of returned bids from multiple investors at-a-glance. More importantly, it enables the same comparison against all other executions available to the lender in one web-based, real-time, live best execution platform. This enables lenders to ensure they are getting the best execution every time, assuring that they are maximizing their profitability.

Known within the mortgage industry for their powerful and innovative technology, Optimal Blue created Automated Bulk Bidding to tame unwieldy bulk bidding processes that previously forced inefficient and potentially inaccurate spreadsheet manipulation. Rather than rely on spreadsheets, originators can now bring bids into the Optimal Blue system and compare them against each other and existing executions, allowing them to hit winning bids in a much timelier manner against market movement. Additionally, users can increase price executions across the board, while trading more efficiently and accurately.

Significant time savings, as well as the removal of human error when utilizing this automated process, are only a couple of the intangible efficiencies gained as a result of this innovation. Don Brown, Managing Director of Secondary Services for Optimal Blue, noted, "Over the past several years, a new style of bulk bidding has emerged where investors are returning pricing at the loan level. By automating the solicitation and reception of bulk bids, Optimal Blue has enabled our customers to be confident that they are getting the best exposure for their product, and that they are executing to the best price every time, whether that is a bulk transaction or not."

Award winners will be named on April 3, 2016.

About Optimal Blue
Optimal Blue is the premier cloud-based provider of managed-content, pricing and product eligibility (PPE), secondary marketing, consumer engagement, data and analytics, and compliance services. Based in Plano, Texas, Optimal Blue has developed an enterprise class suite of products and services designed to automate a lender's complex processes, improving efficiency and profitability while gaining a competitive advantage. With a 99.999% accuracy rate, Optimal Blue technology connects hundreds of investors with more than 1,500 financial institutions and currently touches nearly 1 of every 4 mortgage loans originated nationally.

For more information, please visit www.optimalblue.com.

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