CHICAGO--(BUSINESS WIRE)--Today at the MBA Technology conference in Chicago, Optimal Blue, the leading provider of product eligibility and pricing services for originators and operator of the mortgage industry’s digital marketplace, announced an industry first – a business intelligence tool providing real-time visibility into a lender’s market share. Market Share Insight provides lenders with the ability to review and analyze current and historical market share by lock request volume in comparison to all other lenders using the Optimal Blue platform. Lenders can track their ranking by metrics such as price, rate, loan amount, FICO and product type and can also compare changes in their volume against overall market performance. Market share can be evaluated over any time period based on MSA and loan attributes, and lenders can view results online or schedule reports for automatic delivery via email.
“The Optimal Blue customer base originates roughly one in four loans in the industry,” explained Scott Happ, CEO of Optimal Blue. “Market Share Insight provides a meaningful measure of a lender’s relative share in specific markets. Because of Optimal Blue’s broad market coverage, this capability is unique, enabling lenders to compare their lock activity to a significant cross section of the market for all loan types and lock scenarios. We are excited to deliver this powerful tool to our customers, and we are confident that it will help lenders optimize their volume and profitability.”
“The release of Market Share Insight is a gamechanger for those institutions looking to track real-time changes in their lock share percentage,” said Danny Earley, SVP of Revenue Optimization at PrimeLending. “Gone are the days of waiting on stale, lagged, funded data that does not provide an apples-to-apples comparison of loans locked in a similar timeframe. By combining real-time share with Optimal Blue’s Insight application, lenders can easily track the impact of targeted pricing moves on their share garnered.”
When paired with Optimal Blue’s popular Pricing Insight solution – used to benchmark retail pricing in real-time – lenders are equipped with an innovative and powerful toolkit to guide decision-making. Sheryl Teague, Product Manager for Optimal Blue, added, “With the launch of Market Share Insight, our inclusive suite of competitive intelligence tools cover all angles, from real-time to historical analytics. We are delighted to provide our customers with the capabilities needed to instantly evaluate the success of marketing, pricing, and growth strategies.”
ABOUT OPTIMAL BLUE
Optimal Blue operates the mortgage industry’s digital marketplace, connecting lenders, investors and providers. At the center of our marketplace is a robust analytics engine containing the industry’s largest library of loan programs and real-time loan pricing data. The engine is surrounded by a workflow automation system enabling lenders to price, lock and sell mortgage loans while managing risk and maximizing efficiency. Through marketplace participation, investors gain access to the largest network of lenders and brokers in the industry while leveraging tools to automate data exchange, improve decision making and source new business. Value-added providers represent an important third group of marketplace participants, consuming pricing data to enhance the value of their solutions for Optimal Blue lenders. Together these lenders, investors and providers form a unique, multi-sided marketplace touching one of every four mortgage loans closed nationally each year.
