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Black Knight, Inc. announced that its Optimal Blue PPE mortgage rate lock data is now available within the company's Rapid Analytics Platform. Now, clients have the ability to subscribe and have access to the source of rate lock information in the industry and leverage the data in a number of critical uses, according to Black Knight's press release.
RAP is a cloud-based enterprise and data solution that allows users to access Black Knight's data assets and analytics within a single platform. It gives users the ability to source data, execute queries, create advanced analytics and train machine-learning models to gain helpful insights.
"RAP was already one of the most powerful and insightful data solutions available for the mortgage finance and real estate sectors," said Ben Graboske, president of Black Knight Data & Analytics. "The addition of our daily Optimal Blue rate lock data to RAP's offerings creates a slew of new opportunities for even more timely views of the market."
With the addition of rate lock data, capital and secondary market professionals and servicing portfolio managers can leverage RAP for benchmarking and predictive forecasting, to enhance prepayment, valuation, and risk management models. The data, which delivers key transaction variables 60-90 days before loan closing information is otherwise available, provides visibility into short-term prepayment trends and more timely, accurate insights into refinance incentive, according to the press release.
"Daily rate lock data provides the closest thing we have to a real-time view of the origination market. Now, with access to that sort of granular rate lock data, RAP users also get an advanced look at prepayment potential, especially critical to holders of mortgage-backed securities or mortgage servicing rights," said Scott Happ, president, Black Knight Secondary Market Technologies.
The rate lock data also offers RAP users visibility into origination volume trends, borrower demographics and loan pricing across all geographies.
Click here to learn more about Black Knight's latest integration.