Optimal Blue’s newly launched mobile app for the Optimal Blue PPE – one of the industry’s most widely used product, pricing and eligibility engine – gives loan officers full product and search capabilities from their mobile phones.
By giving loan officers the flexibility to access scenario pricing from any location, the Optimal Blue mobile app is expected to help with timely and borrower conversations, the company said.
With a single tap, these scenarios can be refreshed to show the best product, rate, and price, as well as any interest rate movement on a given day.
All eligible products and rates are presented – including any adjustments, notes, and advisories. Ineligible products are also displayed, along with a reason for ineligibility.
“With just a few taps, a loan officer can identify the best product, rate, and price for their borrower without the constraint of being in an office. This helps them operate more efficiently and competitively, while also delivering a better experience to prospective homebuyers,” said Kevin Foley, director of product management at Optimal Blue.
The mobile app is available for Android as well as iOS for download.
In addition to an all-new app for Android, the app for iOS includes pricing analysis from the Optimal Blue Mortgage Market Indices (OBMMI).
Calculated from actual locked rates with consumers across approximately 42% of all mortgage transactions nationwide, the OBMMI includes multiple mortgage pricing indices developed around the most popular mortgage products and specific borrower attributes.
The OBMMI access is expected to be added to the Android app later in 2024.
Optimal Blue – a provider of secondary market solutions and actionable data services – offers a premier software as a service (SaaS) marketplace platform facilitating commerce between mortgage originators and investors.
The market functions include real-time price discovery, execution, workflow automation, risk management, counterparty oversight and data services.
Now under the roof of Constellation Software following Intercontinental Exchange (ICE)’s acquisition of Black Knight, Optimal Blue aims to solidify its position as an end-to-end solution from pricing a loan to hedging, trading and selling a loan.
