As we strive to keep you up to date on the latest technology, we keep an eye out for new products hitting the market. Just yesterday I was told that Optimal Blue, a cloud-based provider of enterprise level pricing, point-of-sale, compliance and secondary marketing automation services for the mortgage industry, demonstrated innovative new services that will address compliance in Fair Lending and empower lenders with real-time market pricing intelligence.
The 3rd Annual Optimal Blue Client Conference was buzzing with anticipation over adding the patent-pending real-time lock monitoring functionality, incorporating the “Equivalent Rate” feature, to their Optimal Blue Advantage real-time Fair Lending solution. When applied to a mortgage lender’s locked pipeline, the Equivalent Rate calculations immediately highlight any loans that may not have been priced equally. “Our clients can greatly reduce the chance for rate disparity and pricing discrimination,” said Tammy Butler, Director, Fair Lending and Compliance. “They need this now more than ever!”
Also introduced was Optimal Blue Insight, a real-time pricing analysis service. “Our customers can now benchmark pricing against their peers at the local market level,” said James Rowe, Managing Director, Data and Analytics. “We provide actual retail lender pricing – not survey responses – from the leading product and pricing engine in the mortgage industry.”
About The Author
Tony Garritano is chairman and founder at PROGRESS in Lending Association. As a speaker Tony has worked hard to inform executives about how technology should be a tool used to further business objectives. For over 10 years he has worked as a journalist, researcher and speaker in the mortgage technology space. Starting this association was the next step for someone like Tony, who has dedicated his career to providing mortgage executives with the information needed to make informed technology decisions. He can be reached via e-mail at email@example.com.