Mortgage
data
provider


Optimal
Blue
this
week
announced
the
launch
of
Competitive
Data
License,
a
product
that
is
designed
to
help
lenders
price
loans
accurately
and
drive
profitability.

In
its
announcement,
the

Texas-based
company
described
the
product
as
“a
collection
of
key
national

mortgage
pricing
data
that
enables
lenders
to
price
products
competitively,
operate
more
profitably,
and
react
swiftly
to
changing
market
conditions.“

Competitive
Data
License
draws
upon
data
from
the
Optimal
Blue
product
pricing
engine
(PPE),
which
the
company
said
is
used
to
price
and
lock
more
than
35%
of
mortgages
in
the
U.S.
The
product
offers
insights
into
loan
markups,
loan-level
pricing
adjustments,
service-released
premiums,
concessions,
loan
officer
compensation
and
more.

“We
often
hear
from
our
lenders
how
difficult
it
is
to
make
informed
pricing
decisions
given
the
lack
of
visibility
into
detailed
market
data,”

Brennan
O’Connell,
director
of
data
solutions
at
Optimal
Blue,
said
in
a
statement.

“Competitive
Data
License
ensures
that
our
PPE
customers
have
full
transparency
into
the
granular
pricing
components
needed
for
a
full
price
trace
from
buy-side
to
sell-side
—
giving
Optimal
Blue
clients
a
strategic
advantage
in
benchmarking
their
entire
pricing
strategy.”

The
data
license
product
allows
lenders
to
see
which
loan
locks
were
completed
using
the
dataset
and
which
loan
officers
locked
the
loan.
Lenders
can
“feed
the
raw
data
from
Competitive
Data
License
into
their
own
business
intelligence
platforms
to
assess
their
performance
relative
to
competitors
and
adjust
pricing
strategies
—
such
as
repricing
or
hedging
optimization
—
based
on
market
shifts,“
Optimal
Blue
explained.

The
new
product
is
available
only
to
Optimal
Blue
PPE
users,
but
the
firm
noted
that
its
Market
Data
License
product
will
remain
available
to
lenders
not
using
the
PPE.

Earlier
this
month,
Optimal
Blue
landed
a
big
name
in
the
industry
when
it

hired
Joe
Tyrrell
as
its
CEO
to
succeed
Scott
Smith.

In
an

interview
with

HousingWire
shortly
after
the
announcement,
Tyrrell
explained
his
reasoning
behind
the
move
after
previous
career
stops
at


ICE
Mortgage
Technology
and

Medallia.

“What
lenders
really
need
is
the
ability
to
maximize
their
profitability
on
every
single
loan,
so
that
they
can
just
stay
in
business
and
then
continue
to
reinvest
their
business
to
help
more
people,“
Tyrrell
said.
“There
is
nobody
in
this
industry
that’s
more
critical
in
that
than
Optimal
Blue:
a
secondary
marketing
platform
that’s
the
only
end-to-end
solution.“

Related