and Optimal Blue
have announced a strategic partnership aimed at changing the digital correspondent experience, by delivering a real-time integration between LoanLogics' LoanHD Correspondent Lending platform and Optimal Blue's product eligibility and pricing platform. In conjunction with this partnership, Optimal Blue has acquired LoanLogics' product, pricing, and eligibility (PPE) technology business, LoanDecisions.
With the capabilities of LoanLogics' LoanHD, investors ensure the loans they are buying are high-quality, compliant and accurately priced, while sellers experience rapid turnaround for funding and enhanced availability of warehouse lines.
"Working closely with the Optimal Blue team, we will expand the value each company can offer our respective clients through an integrated solution," said Brian Fitzpatrick, Chief Executive Officer of LoanLogics. "Individually, we are leaders in our respective disciplines. Together, we offer powerful technology to help investors 'automate first' across their loan purchase, pricing, hedging, trading, and counterparty risk oversight practices."
Through real-time integration with Optimal Blue's product eligibility and pricing platform, LoanLogics fully automates loan-level pricing and eligibility controls that are pervasive throughout loan file review and enhances a critical aspect of the correspondent workflow inside the LoanHD Correspondent Investor Module. Optimal Blue will provide support for automated adjustments to loan- and bulk-level pricing based on automated due diligence results, while simultaneously delivering maximum flexibility in support of an investor's secondary guidelines and pricing requirements.
"We are delighted with this transaction and extend a warm welcome to LoanDecisions' customers and staff," said Scott Happ, Optimal Blue Chief Executive Officer. "We are investing deeply in our PPE technology and are committed to delivering the best-in-class solutions and innovative partner connections across our marketplace."