Gaining A Pricing Edge

What do lenders need these days? Among other things, as much real-time data as possible. Lenders want access to fully adjusted competitor pricing, including all loan-level pricing adjustments, margin and loan officer compensation. A new product by Optimal Blue that offers up market pricing intelligence hopes to fill this industry need. Here’s how:

Specifically, Optimal Blue Insight is a real-time price benchmarking service, which provides retail pricing information for 470 lenders across 280 metropolitan areas nationwide. “Optimal Blue Insight enables lenders to compare their retail pricing against the rest of the market for all loan types and loan scenarios,” commented James Rowe, Managing Director, Data and Analytics. “It provides actual consumer facing prices – not survey responses – which is an important competitive edge for optimizing volume and profitability.”

Lenders have up to the minute access to fully adjusted competitor pricing, including all loan level pricing adjustments, margin and loan officer compensation. And the pricing is segmented so users can see high, medium and low volume lenders in each market.

“Optimal Blue Insight has proven itself to be a valuable tool for managing our lending strategies. It provides comprehensive pricing information, and helps us validate our competitiveness in the markets we serve,” said AJ Swope, SVP, Secondary Markets, Primary Residential Mortgage, Inc.

Optimal Blue’s Product Eligibility and Pricing Services provide lenders, originators and consumers with decision-making capabilities, resulting in increased workflow productivity. The company’s enterprise lending platform connects almost 200 investors with 3,000 financial institutions, and touches nearly 1 in every 6 new mortgages.

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