FBC Mortgage leverages Optimal Blue’s technology to streamline operations MortgagePress.comFBC Mortgage, Optimal Blue, product eligibility and pricing engine, Vinay Miglani
Optimal Blue, the award-winning developer of a comprehensive,
Web-based platform that couples decisioning technology with content
management for the mortgage industry, today announced that
Florida-based FBC Mortgage LLC has immediately improved the locking
process since implementing Optimal Blue's product eligibility and
pricing engine (PPE) technology in August 2008.
Based on feedback from end users, FBC wanted to upgrade its PPE
to a more accurate platform that would tightly integrate with its
existing systems. As FBC began looking for a new PPE, they heard a
lot of positive feedback in the market about Optimal Blue, which
led to FBC executives contacting the company and ultimately
selecting its PPE technology. Accuracy was the primary driver in
selecting Optimal Blue, however, FBC executives also cited the
systems ease of use, strong lock desk functionality and
customizable, feature-driven functions as key reasons in their
decision making process.
Vinay Miglani, secondary marketing manager with FBC Mortgage
LLC, commented, "Switching to Optimal Blue had an immediate impact
on our operations. By centralizing the lock process, we have
improved our pull-thru ratios with investors and have become
eligible for pricing incentives. Optimal Blue's system thus allowed
us to increase profitability, which has promoted our growth in a
challenging environment. The system makes it much easier for us to
manage product and pricing information, and coupled with its
virtually perfect accuracy, the investment has allowed us to see
significant benefits, from improving margins to saving time."
With a centralized lock desk, Miglani also likes the
customizable nature of Optimal Blue's system, as FBC can now
customize each investor's product, as well as being able to
manipulate delivery times and implement overlays.
"Having prior experience with another PPE was a huge advantage
for FBC, as they knew exactly what they were looking for in a
solution," said Larry Huff, co-CEO of Optimal Blue. "Our 99.99
percent accuracy rate has been the single biggest differentiator
between our system and others in the market. While others tout
their accuracy at is 99 percent, approximately 30 percent of our
business came from competitors in 2008, and of those, most began
looking at our system due to dissatisfaction with the accuracy of
their prior PPE. Our ability to provide the most accurate,
real-time pricing and guideline information gives us a tremendous
competitive advantage and has been a primary driver in our ability
to increase market share."
For more information, visit www.optimalblue.com.
