PLANO, TX--(Marketwired - October 08, 2015) - Optimal Blue Secondary Services, the premier provider of web-based hedging, loan allocation and best execution services to the mortgage industry, recently unveiled the industry's first automated bulk bid management module. This comprehensive functionality is available as a component of the Optimal Blue Secondary Services system, a platform that combines real-time market pricing with accurate investor and market eligibility content to optimize profitability and efficiency for Optimal Blue's mortgage origination clients.
Optimal Blue Secondary Services' comprehensive technology already gives originators the tools to scrub their data for logical and eligibility errors, and obtain accurate pipeline valuations daily. In addition, they're able to understand the factors causing their pipeline valuations to change and maximize their best execution strategy with a real-time, multiple investor, multiple commitment style best execution and loan allocation platform. The automated bulk bidding functionality further enhances this model by enabling originators to tame unwieldy bulk bidding processes that currently force inefficient and potentially inaccurate spreadsheet manipulation. Rather than rely on spreadsheets, originators can now bring bids into the Optimal Blue system, and compare them against each other and also against existing executions without having to wrestle with spreadsheets.
"The automated bulk bid functionality enables our customers to send and receive bid files automatically, facilitating their ability to analyze multiple investor bid results and any other execution that is available to them in one, real-time best execution platform," said Don Brown, Managing Director for Optimal Blue Secondary Services. Brown also noted that this innovative functionality expedites the bulk bidding process for Optimal Blue customers and, more importantly, ensures that these originators find their best execution every day, on every trade, and with every loan.
Patrick Ruybal, Risk Management Specialist at All Western Mortgage explained, "The most immediate impact with this new functionality is time savings. The new bulk functionality offers a clear view of a true execution within the Optimal Blue platform, allowing me to hit winning bids in a much timelier manner against market movement!"
He continued, "Allocating loans into the different execution types is also much more efficient, and I no longer need to create individual bulk commitments for individual loans." Ruybal now experiences a significantly simplified process of importing his spreadsheet, viewing individual loan prices and then easily allocating everything under one commitment number.
About Optimal Blue
Optimal Blue is the premier cloud-based provider of managed-content, pricing and product eligibility (PPE), secondary marketing, consumer engagement, data and analytics, and compliance services. Based in Plano, Texas, Optimal Blue has developed an enterprise class suite of products and services designed to automate a lender's complex processes, improving efficiency and profitability while gaining a competitive advantage. With a 99.999% accuracy rate, Optimal Blue technology connects hundreds of investors with more than 1,500 financial institutions, and is currently the system of record for over $200 Billion in mortgage loans, representing 1 of every 4 loans nationally.
For more information, please visit www.optimalblue.com.
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Contact Information:
PRESS CONTACT FOR OPTIMAL BLUE:
Mike Maccioli
Vice President, Marketing
(972) 781-0200
mmaccioli@optimalblue.com