South Street Securities, LLC Adopts Optimal Blue’s Comergence to Elevate Regulatory Standards in Broker-Dealer Market

Digital Oversight & Process Automation Provides Added Assurance to Satisfy Internal & Regulatory Requirements

PLANO, Texas--()--South Street Securities, LLC (“South Street”), a Tier 1 member of FICC and MBSD with a current balance sheet of $30+ billion, has selected Optimal Blue, the leading provider of secondary marketing automation and third-party oversight solutions in the mortgage industry, to strengthen the company’s compliance regime. In adopting this technology, South Street further demonstrates their position as a premier broker-dealer in a niche market by leveraging a comprehensive due diligence and surveillance platform to satisfy rigorous business and oversight requirements.

Utilizing the electronic document collection and financial status reporting modules available on the Comergence platform provides South Street with a deeper understanding of a client’s financial health at the time of application, while enabling ongoing visibility during the life of the relationship. Relying on system automation removes what was previously a labor-intensive review process while maintaining company protocols and compliance with regulatory mandates.

South Street’s MBS division began TBA Pipeline Hedging for originator clients in 2017. According to David DeBlase, Chief Financial Officer of South Street, the decision to move forward with Optimal Blue came after meticulous evaluations of compliance, surveillance, and on-boarding platforms. “We determined that the Comergence platform was able to effortlessly facilitate the various credit and compliance demands of a complex process that grants margin and hedging lines to our clients. Further, the system seamlessly complements the robust infrastructure that South Street employs to on-board, trade, and clear securities.”

Comergence was acquired by Optimal Blue because the company has been widely recognized for its innovations in due diligence automation and ongoing surveillance services – a capability unmatched in the mortgage industry. Popularity continues to grow, with new segments like the broker-dealer market now adopting these services.

“This is a huge endorsement of our technology,” said Greg Schroeder, Vice President of Comergence at Optimal Blue. “It further validates our enterprise automation approach that is centered on process improvement and acceleration rooted in data insight – without compromising compliance demands.”

ABOUT OPTIMAL BLUE

Optimal Blue operates the mortgage industry’s Digital Marketplace, connecting originators, investors, and providers with comprehensive secondary marketing solutions, market-leading capabilities and value-added services that deliver results.

Contacts

South Street
David DeBlase
Chief Financial Officer
david.deblase@sssnyc.com
or
Optimal Blue
Samantha Tyriver
Marketing Manager
styriver@optimalblue.com

Contacts

South Street
David DeBlase
Chief Financial Officer
david.deblase@sssnyc.com
or
Optimal Blue
Samantha Tyriver
Marketing Manager
styriver@optimalblue.com