Did you know Optimal Blue has access to extensive data that can help optimize your lending operations? Our unique position to touch a loan across the complete capital markets life cycle gives us a valuable line of sight into rich data. The Optimal Blue platform is used to price and lock approximately 35% of mortgages completed nationwide, as well as to support nearly 40% of loans hedged and sold into the secondary market. As a result, we possess an unmatched depth of data that provides critical insight no matter what the market holds.
Introducing: Competitive Data License
Lenders can unlock unprecedented insight into mortgage pricing with Optimal Blue’s new Competitive Data License. This data product offers Optimal Blue PPE users more granular pricing data, post-lock intelligence, competitive analytics, and more. With access to this level of data, you can confidently set competitive rates, maximize profitability, and respond quickly to market changes.
While high-level data sets can help a lender set overarching goals, granular details are key to setting more specific strategy and profitability goals. With Competitive Data License, users can optimize their advantage with granular pricing insights, benchmarking capabilities, post-lock information, and competitive analytics.
More Visibility and Granularity
Lenders often struggle to make informed pricing decisions due to their limited visibility into the intricate details of loan pricing. This issue further compounds in dynamic markets, making it more challenging to respond to market changes quickly and maintain the profitability of a loan.
With access to highly granular data in Competitive Data License, you can confidently set competitive rates, maximize your profitability, and quickly respond to market changes.
Gain more granularity in data covering:
- Markups
- Loan-level pricing adjustments (LLPA)
- Service release premiums (SRP)
- Concessions
- Loan officer compensation (LO Comp)
- Base prices
- PAR rates
Benchmarking Against the Market
With the mortgage industry’s many moving parts, knowing how you stack up against your competitors is essential. Lenders need to be able to assess their performance relative to their competition and use other industry benchmarks for growth and strategic decision-making.
Competitive Data License allows you to effectively use your data to identify areas of improvement, replicate successful strategies, and stay ahead of the curve. For more detailed insights, this data solution allows you to benchmark at the organization, branch/channel, or even the loan officer levels. With this flexibility, users can identify the optimal product mix for the borrower profile, find new territories to target, or identify existing territories where improvement is desired.
Furthermore, with access to Competitive Data License, you can better understand which specific elements influence your overall pricing strategy, including identifying where there’s room to add or reduce planned margin, scripted LLPAs, and LO compensation. Lenders can also use this product to validate opinions or feelings about the market that may not otherwise be detectable.
Post-Lock Insights to Maintain Margins
The road to profitability does not stop once a lender locks in a rate for a borrower. Further market changes can significantly impact margins and possibly require strategies to be adjusted post-lock.
Competitive Data License equips lenders with real-time post-lock data and insights, allowing you to adjust strategies based on the latest market shifts. Whether you are repricing or optimizing your hedging strategies, you want to make sure your product’s options help you stay agile in any market.
Access to Competitive Analytics
With so many players in the mortgage industry, lenders often struggle to differentiate themselves in a competitive market. This is especially true when all lenders use the same generic data sets derived from outdated information or data collected via survey methods.
With competitive analytics offered in Competitive Data License, lenders can gain an advantage that instills confidence. They can garner insights into their pricing strategies, compare against peers, and identify areas for improvement. By driving efficiency and profitability in any market, you can stay ahead of the competition and confident in your strategies.
Ready to Optimize Your Advantage?
With Optimal Blue’s Competitive Data License, you can optimize your advantage with more granular pricing insights, the ability to benchmark against the market, post-lock information, and competitive analytics.
To learn more, contact Sales@OptimalBlue.com or reach out your Optimal Blue representative.
