SOURCE: Optimal Blue LLC

Leading Mortgage Enterprise Lending Services

September 10, 2015 16:51 ET

Optimal Blue Supports Guaranteed Rate's Digital Mortgage Initiative

Launch of New Digital Mortgage Application Leads to Overwhelmingly Positive Customer Response

PLANO, TX--(Marketwired - September 10, 2015) - Optimal Blue partner, Guaranteed Rate, recently pioneered Digital Mortgage, an innovative online platform that will save its customers hours of time and effort. The eighth largest retail mortgage lender in the nation and an industry technology leader, Guaranteed Rate reports that since launching the world's first Digital Mortgage in June, more than 4,400 people have already locked more than $1.4 billion in loans via the new technology.

Guaranteed Rate's innovative Digital Mortgage relies on cloud-based managed content and automated decisioning provided by Optimal Blue, through its Product eligibility and Pricing Engine (PPE) service. Optimal Blue is the premier cloud-based provider of managed-content, PPE and compliance services to the mortgage industry. Optimal Blue's PPE ensures accurate pricing and fees to the consumer. While traditional mortgages typically require scanning, faxing and sending private information through public email servers, Guaranteed Rate's cutting-edge technology provides private and secure digital document transfer that simplifies and shortens a previously long and complex process -- with the majority of customers able to complete the new Digital Mortgage from application to approval in 25 minutes or less.

"This is a revolutionary change for the mortgage industry, as borrowers are now able to take charge of the process and complete each step of the Digital Mortgage online at their own pace," said Victor Ciardelli, president and CEO of Guaranteed Rate.

Guaranteed Rate began utilizing Optimal Blue's enterprise suite of services in 2012. "Providing cloud-based, cutting edge services to our customers is what drives Optimal Blue," said Larry Huff, co-CEO of Optimal Blue. "We are excited to be a part of Guaranteed Rates' successful implementation with our private label pricing service. Guaranteed Rate is a leader in the industry on many fronts, and Optimal Blue is honored to be part of this initiative and their success."

About Guaranteed Rate

Guaranteed Rate is the eighth largest retail mortgage lender in the United States. The company has become The Home Purchase Experts® by offering industry-leading, self-service tools and low rate, low fee mortgages through an easy-to-understand process and unparalleled customer service. Headquartered in Chicago with approximately 175 offices across the U.S. and licensed in all 50 states, Guaranteed Rate has helped hundreds of thousands of homeowners with more than $80 billion in home purchase loans and refinances since 2000 and nearly $10 billion in 2015 alone through June. Guaranteed Rate was ranked No. 1 in Scotsman Guide's "Top Retail Mortgage Lenders 2014" honors, and was recognized by Inc. Magazine as the No. 4 private company job creator in the U.S. in 2013.

Guaranteed Rate has received numerous honors for its technology innovations: last year, Victor Ciardelli was named "CEO of the Year" at the 2014 Illinois Technology Association CityLights Awards and the company's online loan application was named the "Best Corporate Digital Innovation" at the 2013 Moxie Awards. The company now has more top loan originators in the annual national rankings from mortgage industry publications Mortgage Executive, Scotsman Guide and Origination News than any other bank or mortgage company. Follow Guaranteed Rate on Facebook, Twitter and LinkedIn.

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 is currently the system of record for over $200 Billion in mortgage loans, representing 1 of every 4 loans nationally.

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

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