Optimal Blue Releases myLenderMortgagePress.comOptimal Blue, myLender, search engine, PPE search, Larry Huff
Optimal Blue, developer of a comprehensive, Web-based platform
that couples decisioning technology with content management for the
mortgage industry, announced the company has launched myLender, a
feature that simultaneously displays up to six views of search
results for a given borrower's profile. Each of the six views can
be configured independently to the lender's specification. No other
vendor in the industry can return more than one view of their
search results. This represents a phase change in PPE search
capabilities.
Using a highly sophisticated algorithm, myLender performs a best
execution complete with loan level adjustors for every possible
note rate and lock period combination across all possible products
and investors and concisely displays the results in one of the six
views. Almost as important, this complex feature returns results in
less than three seconds. myLender's performance is further enhanced
with the recent release of Optimal Blue's new engine, data center
and user interface. The new user interface empowers an originator
to search for any combination of products from a single product
type to all product types without limitation.
As part of the advanced functionality in the new engine, Optimal
Blue added the capabilities to handle a pricing trace for
historical pricing of a locked loan. When a loan officer locks a
loan, the historical pricing trace allows users to view the entire
grid for the loan product, itemizing all of the loan level
adjusters and lender imposed factors that are needed to derive the
final price. The average locked loan changes several times before
it is funded thus requiring originators and secondary to
recalculate the new price and compare it to the old price. The
historical pricing feature enables originators and secondary
personnel to save a tremendous of time and resources by not having
to go back to the outdated rate sheets to determine the new price
calculation.
Larry Huff, co-CEO of Optimal Blue, commented, "While many in
our industry face significant market challenges, we believe that
now is the time to innovate and offer mortgage professionals the
tools that improve efficiencies, increase productivity and
ultimately boost profitability. With the release of our new engine
and production sites, and now MyLender, we continue to
differentiate ourselves in the market by creating a platform that
operates at a more advanced level than our competitor's. This is
more than a competitive advantage for our customers--these
innovations truly transform the way they do business, positioning
them for greater success."
For more information, visit www.optimalblue.com.
