Optimal Blue’s position as the largest provider of secondary marketing automation gives it unique visibility into $750 billion of loan transactions across its Mortgage Marketplace Platform. 

The company is using that data to create business intelligence solutions that provide benchmarking at an unprecedented scale. 

Optimal Blue started with Enterprise Analytics, released two years ago to shed light on lenders’ margins and profitability through dynamic visualizations of their internal locks and change requests. 

This summer, the company launched another powerful BI tool: Competitive Analytics. 

This game-changing innovation enables Optimal Blue clients to gauge performance through granular illustrations of their market position, compare margins and profitability and assess the effectiveness of current pricing strategies. 

Competitive Analytics provides three types of sophisticated industry benchmarking capabilities, including:

Volume benchmarking: Allows the user to compare their loan production to the overall market and chart volume trends across specific time periods – by week, month, or year. In addition, volume benchmarking provides a trended production percentile market rank by business channel, institution type, state, MSA, loan type and other parameters, as well as the ability to compare the percentage of their locks that observed change requests or lock extensions to the overall market.

Lending profile benchmarking: Enables clients to compare characteristics of their loan production by charting loan level parameters such as FICO, LTV, loan amount, property type, occupancy, loan type and loan purpose against the overall market.

Pricing strategies benchmarking: Provides a market comparison for a variety of secondary marketing metrics that impact profitability. Clients can compare margins, concessions, price and note rate to the market, and filter by business channel, institution type, state, MSA and more.

Future offerings will measure market share by origination volume, providing unrivaled transparency into the mortgage market through widgets available to lenders and other interested parties, like MI companies or investors, through a subscription.

Competitive Analytics is updated with new transactional data daily, which is a sharp contrast to historical HMDA data or survey data that lenders had to depend on in the past. 

“Lenders are hungry for this kind of information because it puts the power in their hands,” said Scott Happ, CEO of Optimal Blue. “Our clients are really delighted with their sudden ability to have full visibility into what’s happening elsewhere in the market and with their peers.”  

PRODUCT: Competitive Analytics

DESCRIPTION: Competitive Analytics allows lenders to see how they rank against their peers in market share, as well as how they measure up against other lenders in volume, lending profile and pricing strategies.