Optimal Blue Launches Market Share Analytics Solution

Optimal Blue launched a business intelligence tool that provides real-time visibility into a lender’s market share. Market Share Insight provides lenders with the ability to review and analyze current and historical market share by lock request volume in comparison to all other lenders using the Optimal Blue platform. Lenders can track their ranking by metrics such as price, rate, loan amount, FICO and product type and can also compare changes in their volume against overall market performance. Market share can be evaluated over any time period based on MSA and loan attributes, and lenders can view results online or schedule reports for automatic delivery via email.

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“The Optimal Blue customer base originates roughly one in four loans in the industry,” explained Scott Happ, CEO of Optimal Blue. “Market Share Insight provides a meaningful measure of a lender’s relative share in specific markets. Because of Optimal Blue’s broad market coverage, this capability is unique, enabling lenders to compare their lock activity to a significant cross section of the market for all loan types and lock scenarios. We are excited to deliver this powerful tool to our customers, and we are confident that it will help lenders optimize their volume and profitability.”

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“The release of Market Share Insight is a gamechanger for those institutions looking to track real-time changes in their lock share percentage,” said Danny Earley, SVP of Revenue Optimization at PrimeLending. “Gone are the days of waiting on stale, lagged, funded data that does not provide an apples-to-apples comparison of loans locked in a similar timeframe. By combining real-time share with Optimal Blue’s Insight application, lenders can easily track the impact of targeted pricing moves on their share garnered.”

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When paired with Optimal Blue’s popular Pricing Insight solution – used to benchmark retail pricing in real-time – lenders are equipped with an innovative and powerful toolkit to guide decision-making. Sheryl Teague, Product Manager for Optimal Blue, added, “With the launch of Market Share Insight, our inclusive suite of competitive intelligence tools cover all angles, from real-time to historical analytics. We are delighted to provide our customers with the capabilities needed to instantly evaluate the success of marketing, pricing, and growth strategies.”

About The Author

Tony Garritano
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 tony@progressinlending.com.