Secondary marketing automation platform provider Optimal Blue announced it has acquired LoanLogics’ product, pricing, and eligibility technology business, LoanDecisions, as part of a new partnership with the company.
On Monday, the companies announced the new partnership, which is designed to automate loan acquisition for correspondent lenders. According to the company, current LoanLogics PPE clients will be migrated to Optimal Blue and it has added 11 employees to the company as part of the acquisition.
“We are delighted with this transaction and extend a warm welcome to LoanDecisions’ customers and staff,” said Scott Happ, Optimal Blue CEO. “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.”
The partnership between the two companies, which are both 2018 HW Tech100 winners, seeks to change the digital correspondent experience by providing users with real-time integration between LoanLogics' LoanHD® Correspondent Lending platform and Optimal Blue's PPE platform, the companies explained in a press release.
“Working closely with the Optimal Blue team, we will expand the value each company can offer our respective clients through an integrated solution,” explained Brian Fitzpatrick, LoanLogics CEO. “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.”